Stocks to Watch: Yahoo, Advanced Micro Devices, Sun Microsystems

SAN FRANCISCO – Among the companies whose shares are expected to see active trade in Wednesday's session are Yahoo Inc., Advanced Micro Devices Inc. and Sun Microsystems Inc.

Abbott Laboratories (ABT) is expected to report earnings per share for the fourth quarter of 74 cents, according to analysts polled by Thomson First Call.

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ConocoPhillips (COP) is expected to post fourth-quarter per-share income of $1.95.

Corning Inc. (GLW) is expected to report earnings per share of 28 cents for the fourth quarter.

EBay Inc. (EBAY) is expected to post fourth-quarter earnings of 28 cents per share.

First Data Corp. (FDC) is expected to post income per share of 34 cents for the fourth quarter.

General Dynamics Corp. (GD) is expected to report earnings per share for the fourth quarter of $1.14.

Hershey Co. (HSY) is expected to post income per share of 71 cents for the fourth quarter.

McDonald's Corp. (MCD) is expected to report fourth-quarter per-share income of 61 cents.

Qualcomm Inc. (QCOM) is expected to report earnings of 42 cents per share for the first quarter.

WellPoint Inc. (WLP) is expected to post income per share of $1.27 for the fourth quarter.

After Tuesday's closing bell, Yahoo (YHOO) reported fourth-quarter profit plunged 61% from a year ago, when it booked a large one-time investment gain. The Internet bellwether was also hurt by higher costs for employee stock options.

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Adobe Inc. (ADBE) named Mark Garrett, an EMC Corp. (EMC) executive, as its new chief financial officer, more than two weeks after the software maker said it had completed an internal review of its stock-options practices.

Advanced Micro Devices (AMD) said it swung to a fourth-quarter loss, hurt by charges related to its acquisition of ATI Technologies and a price war with larger rival Intel Corp. (INTC) that crimped AMD's profit margins.

AFC Enterprises Inc. (AFCE) said its domestic same-store sales fell 3.1% in the fourth quarter. The Atlanta-based franchisor and operator of Popeyes Chicken & Biscuits also reaffirmed that fiscal 2007 domestic comparable sales are projected to be up in the range of 1.5% to 2.5%.

Albemarle Corp. (ALB) reported fourth-quarter net earnings of $63 million, or $1.29 a share, compared with $32.2 million, or 67 cents a share, on the back of a $5.4 million tax benefit and lower costs of good sold.

Broadcom Corp. (BRCM) said a review found that most of the stock options granted by the company between June 1998 and May 2003 were misdated. As a result, the Irvine, Calif.-based chip maker has restated its financial statements to include additional charges of $2.22 billion for 1998 to 2005.

Brocade Communications Systems Inc. (BRCD) said its stockholder rights plan, commonly referred to as a "poison pill," has been amended to accelerate the expiration date, effectively terminating the plan as of today. Also, Brocade and McData Corp. (MCDTA) (MCDT) said the Federal Trade Commission has cleared Brocade's pending acquisition of McData.

Candela Corp. (CLZR) reported second-quarter net earnings of $1.02 million, 4 cents a share, compared with $4.51 million, or 19 cents a share, in the same period last year, as sales slipped and expenses rose.

Centex Corp. (CTX) said it swung to a fiscal third-quarter loss as home builders struggle with lower demand for homes and land charges as they scramble to reduce inventory.

Dell Inc. (DELL) said Nasdaq has granted its request for continued listing, subject to conditions. Dell said it must provide Nasdaq with information regarding its audit committee investigation by March 1, and file its delinquent periodic reports, along with any required restatements, by March 14.

DST Systems Inc. (DST) said fourth-quarter net income rose, as costs, expenses and income taxes declined, to $81 million, or $1.15 per share, from $50.7 million, or 68 cents a share, during the same period in the prior year.

Harsco Corp. (HSC) declared a 2-for-1 stock split, to be distributed March 26 to stockholders of record as of Feb. 28.

Hewlett-Packard Co. (HPQ) said it has amended its corporate bylaws to require that, in uncontested board elections, each nominated director must receive more votes "for" his or her election than "against" to be elected.

Hoku Scientific Inc. (HOKU) reported a third-quarter net loss of $1.25 million, or 8 cents a share. During the same period a year ago, the Kapolei, Hawaii-based company posted net earnings of $202,000, or a penny a share.

Integrated Device Technology Inc. (IDT) reported a third-quarter net loss of $1.94 million, or a penny a share, down from $42.3 million, or 21 cents a share, during the year-ago period.

Pactiv Corp. (PTV) , maker of Hefty bags and other packaging products, reported fourth-quarter net income of $52 million, or 39 cents a share, up from $35 million, or 25 cents, in the year-ago period.

Palm Harbor Homes Inc. (PHHM) said it swung to a net loss in the third-quarter, as sales fell, of $2.62 million, or 11 cents a share. During the same period in the prior year, net income was $4.27 million, or 18 cents a share.

Provident Financial Holdings Inc. (PROV) said it has approved the buyback of up to 5% of its common stock, or 333,365 shares.

Radian Group Inc. (RDN) reported fourth-quarter net earnings of $158.4 million, or $1.96 a share, compared to $104.5 million, or $1.24 a share, in the same period last year, on the back of strong revenue and lower expenses.

Renovis Inc. (RNVS) said it has cut its workforce by about 40% under its restructuring plan, leaving about 70 employees. The biopharmaceutical company said it expects to post charges primarily associated with severance benefits of about $1 million in the first quarter.

Rollins Inc. (ROL) raised its quarterly dividend 20% to 7.5 cents a share. The provider of pest control services said the dividend is payable March 12 to stockholders of record as of February 12.

Steel Dynamics Inc. (STLD) reported fourth-quarter net earnings of $105.1 million, or $1.03 a share, compared with $64.9 million, or 65 cents a share, in the same period last year, on the back of strong sales.

Sun Micro (SUNW) said it swung to a fiscal second-quarter profit on higher sales of corporate servers, topping Wall Street expectations and helping send its shares 8% higher in after-hours trading.

TNS Inc. (TNS) said it has rejected the $16-a-share acquisition proposal from a group led by John McDonnell Jr., the company's former chief executive. TNS said it concluded that the offer "was inadequate and substantially undervalued the company."

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