Stocks to Watch: Oracle, Nike, ConAgra Foods

SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Wednesday's session are Oracle Corp., Nike Inc. and ConAgra Foods.

Bed Bath & Beyond Inc. (BBBY) is expected to report fiscal first-quarter earnings of 37 cents a share, according to a poll of analysts by Thomson Financial.

ConAgra Foods' (CAG) fiscal fourth-quarter profit is expected to come in at 31 cents a share.

Herman Miller (MLHR) is seen posting a per-share profit of 49 cents in its fourth quarter.

Paychex Inc. (PAYX) is expected to report fiscal fourth-quarter earnings of 36 cents a share.

Red Hat Inc.'s (RHT) first-quarter results are expected to show a per-share profit of 15 cents.

Smart Modular Technologies (SMOD) is seen posting fiscal third-quarter earnings of 22 cents a share.

UniFirst Corp. (UNF) is expected to report per-share earnings of 64 cents for its fiscal third quarter.

After Tuesday's closing bell, Oracle Corp. (ORCL) reported fiscal fourth-quarter profit rose 23 percent from a year ago as the software giant recorded increased sales of new software contracts and said it was gaining market share in key areas from some of its top rivals.

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Arbitron Inc. (ARB) said Clear Channel Radio (CCU) has signed a multi-year agreement for portable people meter radio ratings services in 46 markets. Financial terms of the deal, which expires at the end of 2011, were not disclosed.

AeroVironment Inc. (AVAV) swung to a fiscal fourth-quarter profit of $5.57 million, or 27 cents a share, from a year-earlier loss of $532,000, or 4 cents a share. Revenue for the period ended April 30 jumped 66 percent to $50.7 million from $30.6 million due to growth at the company's unmanned aircraft systems unit. On average, analysts polled by Thomson Financial expected earnings of 26 cents a share on revenue of $48 million. For fiscal 2008, the Monrovia, Calif., producer of unmanned aircraft systems expects revenue to rise 20 percent to 25 percent.

Ennis Inc. (EBF) reported first-quarter net earnings of $10.8 million, or 42 cents a share, down from $11.3 million, or 44 cents a share, in the year-ago period. The Midlothian, Texas-based business forms producer said revenue in the three months ended May 31 rose 5.3 percent to $152.8 million from $145.1 million in the comparable period last year.

Gannett Co. (GCI) said it has agreed to sell $1 billion of unsecured senior convertible notes due 2037 in an underwritten public offering.

GSI Commerce Inc. (GSIC) said it "remains comfortable" with its second-quarter and annual financial guidance. The King of Prussia, Pa., e-commerce company said in April that it expects a second-quarter loss of $6.5 million to $7.5 million on revenue of $125 million to $135 million. The company expects 2007 revenue of $710 million to $760 million.

InVentiv Health Inc. (VTIV) said it has agreed to acquire Chandler Chicco Agency for $65 million in cash and stock and Innovative Health Strategies Inc. for $75 million in cash and stock. Both transactions include earn-out payments for exceeding certain financial targets.

Nike Inc. (NKE) said fourth-quarter profit surged 32 percent, driven by gains in the U.S. and Europe.

Nuvelo Inc. (NUVO) said it will resume development of alfimeprase, an investigational treatment for multiple blood clot-related disorders, in the second half of the year. The company also said that it and a Bayer (BAY) unit have terminated their collaboration agreement. Nuvelo will receive $15 million for waiving notification terms for Bayer HealthCare, but it has granted Bayer one-time options to reacquire rights to alfimeprase upon the initiation of a pivotal stroke trial. Nuvelo also that it doesn't expect to exceed its previous forecast for operating expenses and net cash in operating activities of $30 million to $35 million for the first half of 2007.

Spectrum Control Inc.'s (SPEC) fiscal second-quarter net income rose 59 percent to $2.75 million, or 20 cents a share, from $1.73 million, or 13 cents a share, a year earlier on a significant decline in material costs. The Fairview, Pa., provider of electronic control products said sales for the quarter ended May 31 increased 5.3 percent to $33.6 million from $31.9 million a year ago. Spectrum expects third quarter earnings of 22 cents to 23 cents a share and revenue of $34.5 million to $35.5 million, the company said.

Topps Co. (TOPP) said Upper Deck Co.'s subsidiary, UD Co., has launched a tender offer to purchase all of Topps' outstanding shares for $10.75 each in cash. New York-based Topps, a creator and marketer of sports cards and entertainment products, said it plans to review the Upper Deck offer and issue a recommendation by July 9. On March 5, Topps agreed to be acquired by the Tornante Co. LLC and Madison Dearborn Partners LLC for $9.75 a share in cash, and Topps said its board has not changed its recommendation with respect to the offer.