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Stocks To Watch: Coldwater Creek, Delphi, Exxon, FootLocker, Take Two Interactive

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Today's big stories and some stocks with potential to move...

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Stocks to watch for Thursday, March 8

  • AirTran Holdings (AAI), the parent of AirTran Airways, said late Wednesday it has submitted preliminary proxy materials to the Securities and Exchange Commission regarding its slate of nominees to the board of Midwest Express Holdings (MEH) Midwest Air Group Inc. The nominees are John Albertine, Jeffrey Erickson, and Charles Kalmbach, the Orlando, Fla.-based carrier said. AirTran also said it has extended its exchange offer for Midwest until April 11. The offer was scheduled to expire on Thursday.
  • Alon USA Energy (ALJ) fourth-quarter net income decreased to $22 million, or 47 cents share, from $29.7 million, or 64 cents share, a year earlier, on lower production at its Big Spring refinery. The Dallas refiner of petroleum products said net sales for the period ended Dec. 31 increased to $920.2 million from $682 million.
  • Ashford Hospitality Trust (AHT) swung to a fourth-quarter profit of $10.7 million, or 9 cents a share, from a year-earlier loss of $5 million, or 18 cents a share. The Dallas-based hotel real-estate investment trust said adjusted funds from operations rose to $25.5 million, or 27 cents a share, from $17 million, or 27 cents a share, last year.
  • Ashworth (ASHW) named Eric Hohl chief financial officer and treasurer, effective March 19.
  • Brinker International (EAT) February same-store restaurant sales fell 4.9%. The Dallas restaurant chain owner attributed 1% of the decline to poor weather.
  • Casella Waste Systems (CWST) swung to a third-quarter loss of $845,000, or 7 cents a share, from a profit of $1.29 million, or 2 cents a share, a year earlier. The Rutland, Vt., trash company's revenue rose 2.2% to $133.5 million from $130.6 million in the year-ago period.
  • Casey's General Stores (CASY) reported third-quarter net earnings of $11.2 million, or 22 cents a share, up from $6.95 million, or 14 cents a share, during the year-ago period. The Ankeny, Iowa-based convenience store operator posted total revenue of $923 million vs. $798.3 million last year.
  • Central European Distribution (CEDC) late Wednesday said it expects 2007 earnings of $1.50 to $1.66 a share on revenue of $1.05 billion to $1.1 billion. The Polish distributor of alcoholic beverages also said it sees the expansion of gross margins to 21.5% and organic sales growth of 12%.
  • Cirrus Logic (CRUS) David French resigned as president, chief executive and director, and the company said it will take a charge of $22 million to $24 million to correct the dating of stock option grants.
  • Coldwater Creek (CWTR) reported fourth-quarter net earnings of $15.9 million, or 17 cents a share, down slightly from $16.4 million, or 17 cents a share, during the same period a year ago. The Sandpoint, Idaho-based retailer posted revenue of $366.6 million vs. $283.9 million.
  • Culp (CFI) said its third quarter net loss widened slightly to $2.2 million from $2.17 million. The High Point, N.C.-based company's loss per share for the quarter was unchanged at 19 cents a share. Quarterly net sales fell to $55.7 million from $61 million.
  • DCP Midstream Partners (DPM) agreed to acquire certain natural gas gathering and compression assets in Oklahoma for $180.25 million in cash from Houston-based Anadarko Petroleum (APC).
  • Auto-parts maker Delphi (DPHIQ) filed to issue nearly $2 billion worth of common stock to shareholders as a key step toward funding its emergence from bankruptcy. According to a filing with the Securities and Exchange Commission, the company is offering current stockholders the right to buy 56,700,000 shares at $35 each.
    Deutsche Boerse said CFO Mathias Hlubek and Matthias Ganz, chief operations officer, have resigned in a mutually agreed move. The German stock exchange operator said CEO Reto Francioni will take on the CFO role on an interim basis, while other board members will take on Ganz's role in their respective business areas.
  • Dresser-Rand Group (DRC) has commenced a secondary offering of 11.6 million shares of its common stock to be sold by shareholder D-R Interholding LLC.
  • Exxon Mobil (XOM) pegged its capital spending at $20 billion a year, as its top executive said the price of oil still reflects a hefty speculative premium tied to global supply concerns.
  • Family Dollar Stores (FDO) expects to record a pretax charge of $10.5 million, or 4 cents a share, for the fiscal year-ended August 26 on improper accounting regarding stock option grants between 1995 and 2006.
  • Flamel Technologies (FLML) reported a fourth-quarter net loss of $5.86 million, or 25 cents a share, compared with a net loss of $6.45 million, or 28 cents a share, during the year-ago period. The French biopharmaceutical company posted revenue of $7.78 million vs. $6.26 million.
  • Foot Locker (FL) said an extra week helped boost its fiscal fourth-quarter net income to $113 million, or 72 cents a share, from $95 million, or 61 cents a share, a year earlier. Sales for the 14 weeks ended Feb. 3 rose 5.6% to $1.65 billion from $1.56 billion in the 13-week period a year ago.
  • General Dynamics (GD) raised its quarterly dividend 26% to 29 cents from 23 cents a share.
  • Hot Topic (HOTT) said February same-store sales fell 2.7%. Analysts had expected a 4.6% fall in monthly comp sales, according to a survey by Thomson Financial. For the four weeks ended March 3, the retailer said net sales rose 3% to $49.8 million.
  • Hurray Holding (HRAY) fourth-quarter net income fell to $1.57 million, or 7 cents an American depositary share, from $3 million, or 13 cents an ADS, a year earlier. Total revenue for quarter ended Dec. 31 rose 6.3% to $17 million, from $16 million.
  • ITC Holdings (ITC) fourth-quarter net income more than doubled to $3.59 million, or 8 cents a share, from $1.69 million, or 5 cents a share, a year earlier, as revenue rose 59%. The Novi, Mich., electricity transmission infrastructure company's revenue jumped to $73.1 million from $46 million in the year-ago period.
  • JetBlue Airways (JBLU) named Russell Chew as chief operating officer, effective March 19.
  • K2 (KTO) swung to a fourth-quarter profit of $10.4 million, or 20 cents a share, from a loss of $232.1 million, or $5.01 a share, a year earlier. Year-ago earnings included a non-cash charge of $253.2 million for goodwill. The Carlsbad, Calif., sporting goods company's revenue rose 10% to $388.6 million from $353.5 million a year ago.
  • Martek Biosciences (MATK) first-quarter profit fell 32% to $3.78 million, or 12 cents a share, from $5.58 million, or 17 cents a share, a year earlier. The Columbia, Md., maker of products from microalgae said revenue for the quarter rose 12% to $70.3 million from $62.9 million.
  • Mellanox Technologies (MLNX) late Wednesday reported fourth-quarter net earnings of $3.84 million, up from $1.3 million during the year-ago period. Net income attributable to ordinary shareholders was $433,000, or 4 cents a share, compared with nil, or breakeven on a per-share basis, last year. The maker of silicon chips for Internet video and other applications posted total revenue of $15.8 million vs. $12.2 million.
  • Men's Wearhouse (MW) expects first-quarter earnings between 63 cents and 67 cents a share, assuming same-store sales rise 1% to 2% in the U.S. and 5% to 6% in Canada. The Houston-based seller of men's apparel also expects to earnings between $2.80 and $2.91 a share for the fiscal year ending Feb. 2.
    Men's Wearhouse's fiscal fourth-quarter net income rose to $52.3 million, or 95 cents a share, from $32.7 million, or 60 cents a share, a year earlier. The quarter ended Feb. 3 includes an extra week, as well as other significant items. Total sales rose 12% to $556.8 million from $497 million.
  • Metabolix Inc. (MBLX) reported its fourth quarter loss widened to $7.5 million from $2.3 million a year earlier. Loss per share decreased to 59 cents a share from 78 cents a share, primarily due to higher shares outstanding from its initial public offering in November. The Cambridge, Mass., biotechnology company said revenue fell to $357,000 from $707,000.
  • Nastech Pharmaceutical (NSTK) reported its fourth quarter loss widened to $10.7 million, or 50 cents a share, from $8.9 million, or 44 cents a share, a year earlier. Revenue rose to $4.8 million from $1.3 million.
  • National Medical Health Card Systems (NMHC) second-quarter net income fell 48.3% to $1.5 million, from $2.9 million for the same period last year. The pharmacy benefit manager said revenue for the period ended Dec. 31 decreased 9.4% to $199.3 million from $219.9 million.
  • NorthWestern (NWEC) settled a Securities and Exchange Commission investigation concerning the company's 2002 earnings restatement. The Sioux Falls, S.D., company said the SEC began an administrative proceeding, which was simultaneously settled. NorthWestern agreed, without admitting any wrongdoing, to cease-and-desist from future violations of securities laws. The company won't pay a fine.
  • Take-Two (TTWO) investor group is launching a proxy contest to wrestle control of the videogame maker from the board. Shares jumped 7.6% on the news.
  • Zumiez (ZUMZ) on Wednesday said its February sales at stores open at least a year increased 12.4%. Analysts, on average, expected the retailer to post a same-store sales increase of 7.1%, according to a survey by Thomson Financial. Total net sales for the four-week period ended March 3 increased 43.9% to $20.7 million, from $14.4 million for the four-week period ended Feb. 25, 2006.


Market Update

  • Asian trading closed with the Hang Seng +1.36%, Nikkei +1.94%, Sensex +3.73%, Taiwan +1.24% and Shanghai +1.08%.
  • Looking over at Europe, we find the CAC +0.84%, DAX +0.83%, FTSE +0.85%, ATX +2.37%, Swiss Mkt. +0.56% and Stockholm +1.34%.
  • Gold is trading +2.3 to 655.2 and crude oil is -0.15 to 61.67 this morning.
No positions in stocks mentioned.

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