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Stocks to Watch, Sept. 19, 2007: Morgan Stanley, General Mills

By | MarketWatch

SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Wednesday's session are Morgan Stanley, General Mills Inc. and Darden Restaurants Inc.

AAR Corp. (AIR) is expected by analysts surveyed by Thomson Financial to report earnings of 38 cents a share for its fiscal first quarter.

Apogee Enterprises Inc. (APOG) is expected to report second-quarter earnings of 36 cents a share.

CarMax Inc. (KMX) is expected to post earnings of 29 cents a share for the second quarter.

CKE Restaurants Inc. (CKR) is forecast to report earnings of 20 cents a share for the second quarter.

Analysts are looking for Clarcor Inc. (CLC) to post a per-share profit of 49 cents for its fiscal third quarter.

Comtech Telecommunications Corp. (CMTL) is expected to report fiscal fourth-quarter earnings of 44 cents a share.

General Mills Inc. (GIS) is forecast to report earnings of 80 cents a share for its fiscal first quarter.

Herman Miller Inc. (MLHR) is expected to post fiscal first-quarter earnings of 50 cents a share.

Morgan Stanley (MS) is expected by Wall Street to report earnings of $1.54 a share for its fiscal third quarter.

After Tuesday's closing bell, Darden Restaurants (DRI) reported first-quarter earnings of $105.9 million, or 72 cents a share, up from $88.5 million, or 59 cents a share, a year ago. Sales rose to $1.47 billion from $1.36 billion. Earnings from continuing operations came to 73 cents a share. Analysts polled by Thomson Financial had expected earnings of 70 cents a share on revenue of $1.46 billion. Darden, whose chains include Olive Garden and Red Lobster, also confirmed its 2008 outlook.

Watch List

Atari Inc. (ATAR) said Tuesday evening it has filed its Form 10-K for fiscal year 2007 with the SEC. The video game publisher said in June that the filing would be delayed as it determined the amount of a fourth-quarter goodwill impairment charge. Its net loss for the year ended March 31 was $69.7 million on revenue of $122.3 million. The 2007 results include a non-cash goodwill impairment charge of $54.1 million.

Choice Hotels International's (CHH) board has approved an increase of up to an additional 3 million shares under its existing share buyback plan. The company said that 1 million shares are available under its previous program.

Dress Barn Inc. (DBRN) reported fiscal fourth-quarter net earnings of $33.6 million, or 48 cents a share, compared with $24.4 million, or 35 cents a share, last year. Sales rose to $379.9 million from $343.3 million. Analysts expected earnings of 42 cents a share on sales of $377 million. The company also forecast 2008 earnings of $1.40 to $1.50 a share, below Wall Street's estimate of $1.53 a share.

Kenneth Cole Productions (KCP) said it bought the Le Tigre brand, including the trademark, tiger logo, license portfolio and other intellectual property. Financial terms weren't disclosed.

Knight Transportation Inc. (KNX) forecast third-quarter earnings of 18 cents to 21 cents a share, citing an industry-wide decrease in freight tonnage and excess truckload capacity as contributing factors on its outlook. Analysts currently expect earnings of 23 cents a share.

NovAtel Inc. (NGPS) acquired privately held Antcom Corp. for $5 million. Deal terms include an additional $1 million if Antcom meets certain financial targets by the end of the year. NovAtel expects the deal to add marginally to earnings during the first 12 months and expects Antcom will add about $7 million to $7.4 million in revenue.

R.H. Donnelley (RHD) expects 2007 pro forma advertising sales growth to be flat to up 1%, including its acquisition of Business.com. Excluding the acquisition, the Yellow Pages publisher is looking for 2007 advertising sales growth in the range of down 1% to flat.

Warnaco Group Inc. (WRNC) plans to reduce its swimwear business to the Calvin Klein and Speedo brands, and incur a related charge of $30 million to $32 million. Warnaco expects 2007 earnings from continuing operations to range from $2.05 to $2.15 and forecast revenue growth of 9% to 11%. The company has also hired Goldman Sachs to explore strategic alternatives for its Lejaby unit.