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Stocks to Watch: Dell, Google, Hewlett-Packard, Marvell, Rambus

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Can't nobody hold me down

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Stocks to watch for Thursday, August 17

  • Aeroflex (ARXX) reported fourth-quarter net earnings of $6.91 million, or 9 cents a share, compared with $2.13 million, or 3 cents a share, during the year-ago period.
  • AFC Enterprises (AFCE) said its second-quarter net earnings rose to $5.1 million, or 17 cents a share, compared with $4.9 million, or 16 cents a share, in the same period last year, as operating profit increased.
  • Amkor Technology (AMKR) said it expects to restate its financial results from fiscal 1998 through 2005 and the first quarter of 2006 to correct errors related to accounting for stock-based compensation expense. The company said the restatements will likely be material to its most recent results.
  • Avista (AVA) increased its quarterly dividend 3.6% to 14.5 cents a share from 14 cents a share. The energy company said the dividend is payable Sept. 15 to shareholders of record as of Aug. 31.
  • Banta (BN) on Wednesday called Cenveo's acquisition offer a "highly conditional and ambiguous overture" that "merits no further discussion." In a letter to Cenveo Chief Executive Robert Burton, Banta said the offer is "subject to numerous contingencies, including obtaining financing, effecting due diligence and reaching a satisfactory definitive merger agreement."
  • BEA Systems (BEAS) reported second-quarter net earnings of $36.3 million, or 9 cents a share, compared with $36.1 million, or 9 cents a share, during the year-ago period. The corporate-software company posted revenue of $339.6 million, up 19% from $285.2 million.
  • Blue Coat Systems (BCSI) reported first-quarter revenue of $36.2 million, compared with $33.4 million in the same period last year. The maker of Internet communications equipment did not report first-quarter earnings due to an ongoing review of its stock option granting practices.
  • Cablevision (CVC) said the SEC is investigating its stock-options grants. Intuit said a review of its options practices uncovered no evidence of fraud
  • CACI International (CAI) reported fourth-quarter net earnings of $22.1 million, or 71 cents a share, compared with $22 million, or 71 cents a share, during the year-ago period. The company posted revenue of $477.3 million vs. $429.8 million.
  • Cherokee International (CHRK) reported second-quarter net earnings of $352,000, or 2 cents a share, as sales rose and expenses fell. In the same period last year, the maker of power supplies posted a net loss of $1.77 million, or 9 cents a share.
  • Citi Trends (CTRN) reported second-quarter net earnings of $1.28 million, or 9 cents a share, compared with $381,000, or 3 cents a share, during the year-ago period. The retailer posted revenue of $76.3 million vs. $59.4 million.
  • Intuit (INTU) said its board committee has completed a review of the company's historical stock options granting practices and uncovered no evidence of fraud or intentional wrongdoing. The software company said it does not expect to restate any of its past results.
  • Dell's (DELL) battery recall may hurt its back-to-school business but is less likely to cause long-term problems, some analysts predict
  • DynCorp International (DCP) said it has been awarded a contract by the Federal Emergency Management Agency to provide temporary housing for future disaster victims.
  • Epix Pharmaceutical (EPIX) said it has completed the acquisition of Predix Pharmaceuticals Holdings Inc. In connection with the acquisition, Epix effected a 1-for-1.5 reverse stock split of its outstanding stock.
  • Google (GOOG) says it bought Neven Vision, a photo-search technology company, as the search giant continues to boost its online offerings.
  • Gymboree (GYMB) said it swung to a profit in the second quarter from a prior-year loss on an 18% improvement in net sales. The company earned $544,000, or 2 cents a share, in the latest three months. A year ago, it lost $3.34 million, or 11 cents a share.
  • Hansen Medical filed with the Securities and Exchange Commission to raise up to $86.3 million in an initial public offering. The company has applied to have its shares listed on the Nasdaq under the ticker symbol "HNSN."
  • Hewlett-Packard's (HPQ) net surged to $1.38 billion, helped by cost-cutting. The tech company raised its profit outlook and authorized a $6 billion stock-buyback plan. Shares rose 4% after hours.
  • Hot Topic (HOTT) reported a second-quarter net loss of $905,000, or 2 cents a share. In the quarter ended July 30 of 2005, the teen retailer made $893,000, or 2 cents a share.
  • Limited Brands (LTD) said it made $113.1 million, or 28 cents a share, in the second-quarter compared with last year's profit of $81.5 million, or 20 cents a share.
  • Longs Drug Stores (LDG) said higher sales boosted its second-quarter net earnings to $19 million, or 50 cents a share, compared with $16.7 million, or 43 cents a share, in the same period last year.
  • Lyondell Chemical (LYO) said it bought out Citgo's stake in the Lyondell-Citgo refinery in Houston for $2.1 billion. The company said the acquisition would add immediately to its earnings and allow the company to significantly reduce its debt load.
  • Marvell Technology Group (MRVL) said it plans to report limited results for the second quarter due to the ongoing review of its historical stock option practices. The company also said it doesn't expect to file its Form 10-Q for the quarter by the Sept. 7 filing deadline.
  • Network Appliance (NTAP) reported fiscal first-quarter profit fell 9% on the cost of employee stock options, even as sales rose by more than a third. The company said net income for the period ended July 28 fell to $54.7 million, or 14 cents a share, from $60.1 million, or 16 cents, a year earlier.
  • Men's Wearhouse (MW) earned $35.6 million, or 65 cents a share, in its second quarter, up sharply from the $24.4 million, or 43 cents, a year ago. Total sales came in at 460.6 million, up 8.7%, while same-store sales climbed 3.7% in the U.S. and 7.3% in Canada.
  • NuCo2 (NUCO) reported fourth-quarter net earnings $2.57 million, or 16 cents a share, compared with $18.6 million, or $1.16 a share, in the same period last year. The company said quarterly revenue rose 16% to $30.4 million from $26.2 million.
  • Owens & Minor (OMI) said the Federal Trade Commission has granted early termination of the antitrust waiting period related to its proposed acquisition of certain assets of the acute-care medical and surgical supply distribution business of McKesson Medical-Surgical, a unit of McKesson (MCK).
  • Rambus (RMBS) said it plans to request a hearing before Nasdaq following the receipt of a non-compliance letter from the exchange. The company said it received the letter because it did not file its Form 10-Q for the period ended June 30 on time due to an ongoing stock option grant review.
  • Salesforce.com (CRM) posted a net loss of $145,000, down from year-earlier earnings of $5 million. On a per-share basis, the company broke even, compared to a profit of 5 cents a basic share and 4 cents a diluted share in the comparable period of last year.
  • Synopsys (SNPS) reported fiscal third-quarter net income of $7.6 million, or 5 cents a share, versus net income of $17.3 million, or 12 cents a share, in last year's period.
  • Teck (TCK) won't proceed with an increased $17.83 billion bid for Inco, leaving CVRD the apparent front-runner to acquire the nickel miner.
  • Tetra Tech (TTEK) said it recorded a $3.2 million charge in the third quarter related to stock-based compensation. As a result, the provider of consulting and engineering services lowered its quarterly per-share earnings from continuing operations to 14 cents, from the 17 cents it had originally reported.
  • Tyco (TYC) employees who invested retirement savings in the company's stock have won class-action status for their lawsuit, which alleges the company misrepresented its value in a fraud scheme.


Market Update

  • Asian trading closed higher with the Hang Seng -0.45%, Nikkei -0.31%, Sensex +0.25%, Taiwan +0.55% and Shanghai -0.81%
  • A check across the pond finds markets lower for the most part with the CAC +0.03%, DAX +0.10%, FTSE +0.15%, ATX -0.07%, Swiss Mkt +0.46% and Stockholm +0.91%.
  • Crude oil is trading -1.19 to 70.70 while gold is +0.8 to 629.3 this morning. For their part, stateside futes are right around fair value.
No positions in stocks mentioned.

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