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3Com Corp. (NASDAQ:COMS - News) said the second-quarter net loss narrowed to a penny a share from 3 cents in the year-earlier period.
ASV Inc. (NASDAQ:ASVI - News) estimated 2006 earnings at 80 cents to 84 cents a share on sales of $240 million to $250 million. A survey of analysts by Thomson First Call produced consensus estimates of 82 cents of profit on $245 million of revenue. The company also said that for 2007, earnings would range 68 cents to 87 cents a share, on revenue of $230 million to $260 million. Thomson First Call's estimates: 90 cents and $249 million.
Bed Bath & Beyond (NASDAQ:BBBY - News) posted a third-quarter profit rise of about 6%, bolstered by both same-store-sales growth and new-store openings.
Commercial Metals Co. (NYSE:CMC - News) said its first-quarter net income rose 23% to $85.4 million, or 71 cents a share, from $69.6 million, or 57 cents a share in the year-earlier period. Sales at the Irving, Texas, metal company climbed 21% in the three months ended Nov. 30 to $1.99 billion from $1.65 billion. International steel prices appear to be at or near the bottom and are likely to increase early in calendar 2007, according to the company's outlook.
First Data Corp. (NYSE:FDC - News) said it expects fourth quarter earnings to be 33 cents to 35 cents a share, excluding 5 cents of special items, or 28 cents to 30 cents a share from continuing operations on a GAAP basis. For the full year 2006, the company expects to earn $1.08 to $1.10 a share excluding items 2 cents, or $1.06 to $1.08 per share from continuing operations on a GAAP basis. According to analysts polled by Thomson First Call, the average estimate for the company's fourth quarter adjusted earnings is 34 cents a share.
Heico Corp. (NYSE:HEI - News) fourth-quarter net income rose to 35 cents a share from 25 cents in the year-earlier period. Analysts had expected 31 cents
Jabil Circuit Inc. (NYSE:JBL - News) posted fiscal first-quarter revenue of $3.2 billion, up 33% from the year-earlier period. The provider of electronic manufacturing services said it expects second-quarter revenue of $2.75 billion to $2.85 billion, and fiscal 2007 revenue growth of about 20%.
Joy Global Inc. (NASDAQ:JOYG - News) named Michael Sutherlin president and chief executive. Sutherlin has served as president of Joy Mining Machinery since 2003.
Kyphon Inc. (NASDAQ:KYPH - News) said it would acquire the spine-related product assets and associated intellectual property rights of Disc-O-Tech Medical Technologies Ltd. of Israel for as much as $240 million. In a statement, Kyphon said it expects to report a pre-tax charge of $30 million to $40 million for in-process research and development in 2007. Excluding the charge, Kyphon expects the deal to cut 12 cents to 17 cents a share from adjusted 2007 earnings. The transaction should "slightly" dilute 2008 reported earnings and add to earnings beginning in 2009. Richard Mott, president and chief executive of Kyphon, said in the statement that Disc-O-Tech's systems will boost Kyphon's ability to serve a fast-growing industry segment, minimally invasive treatment of degenerative disc disease.
Manatron Inc. (NASDAQ:MANA - News) said it's rejecting at bid of $9 a share from Constellation Software. The Kalamazoo, Mich. Web application software firm said its board unanimously concluded that "pursuing the proposal would not be in the best interests of the company, its shareholders or other stakeholders."
Pier 1 Imports, (NYSE:PIR - News) said E. Mitchell Weatherly, executive vice president for stores, is retiring as of Dec. 30. In a Securities and Exchange Commission Form 8-K, Pier 1 said that while the company searches for a successor, David A. Walker, EVP for logistics and allocations, will add the responsibilities of head of store operations.
PMC-Sierra Inc. (NASDAQ:PMCS - News) cut its quarterly sales target due to slower demand for its chips used in high-speed Internet-networking gear and data-storage equipment. PMC-Sierra forecast fourth-quarter revenue in the range of $100 million to $105 million, down from its prior outlook of $105 million to $112 million.
Shiloh Industries Inc. (NASDAQ:SHLO - News) said it lost $6 million, or 38 cents a share in its fourth quarter. During the fourth quarter, the firm recorded special items that reduced net income by $7.1 million, or 44 cents a share. Net income, excluding special items was $1.1 million, or 6 cents a share for the fourth quarter, compared to net income of $8.1 million, or 49 cents a share a year ago. Sales for the fourth quarter ended October 31, 2006 were $157.9 million compared to $176.9 million reported in the fourth quarter of fiscal 2005, a decrease of $19 million or 10.7%. The company also said its board declared a special dividend of $2.50 a share.
Sonic Foundry Inc. (NASDAQ:SOFO - News) said it's priced an offering of 3 million shares at $3.75 each. It will use the proceeds for research and development and capital expenditures.
Stepan Co. (NYSE:SCL - News) said it expects a fourth-quarter loss of $5 million to $6 million, compared with a loss of $400,000 million a year earlier. The Northfield, Ill., chemicals company said it expects the loss for 2006 at $6 million to $7 million. Stepan said surfactant earnings will be lower due to employee severance costs in Europe and an unfavorable comparison with a year ago. The company also said polymer earnings will be lower due to declining profit margins for phthalic anhydride and polyurethane polyol.
Ultratech Inc. (NASDAQ:UTEK - News) revised its fourth-quarter outlook to a loss of 25 cents to 30 cents a share from its prior view of a loss of 10 cents to 15 cents a share.
Wet Seal Inc. (NASDAQ:WTSLA - News) said it now expects its December same-store sales to rise from 1% to 3%, compared with a previously estimated increase in the low- to mid-single digit range.
Worthington Industries Inc. (NYSE:WOR - News) said its second-quarter earnings for the three months ended Nov. 30 fell 31% to $26.9 million, or 31 cents a share, from $39 million, or 48 cents a share in the year-ago period. Revenue rose 4% to $729 million from $700 million. Analysts surveyed by Thomson First Call forecast earnings of 39 cents a share and revenue of $782.5 million, on average. The company said its steel processing and metal framing segments had lower volume as a result of weaker demand. Looking ahead, the company said its third quarter will be the weakest of the year.
-MarketWatch

Labels: ASVI, BBBY, COMS, FDC, HEI, JBL, JOYG, KYPH, MANA, PIR, PMCS, SCL, SHLO, SOFO, UTEK, WOR, WTSLA

Alpharma Inc. (NYSE:ALO - News) shares slumped after the specialty pharmaceuticals maker said it expects to report 2007 earnings below the average forecast on Wall Street.
Anadarko Petroleum (NYSE:APC - News) was downgraded to neutral from buy at Goldman Sachs.
Biomira Inc. (NASDAQ:BIOM - News) shares fell after the Edmonton, Alberta-based biotech company said it plans to raise $13 million by offering up to 9.63 million units for $1.35 each. Units will consist of one common share and 0.2 of a warrant. Each warrant will entitle the holder to buy one common share at an exercise price of $1.86. The warrants will have a 48-month term and a no-exercise period of six months. The offering is expected to close in the next few days.
Celgene (NASDAQ:CELG - News) shares declined after the company said Barr Pharmaceuticals (NYSE:BRL - News) has filed an Abbreviated New Drug Application with the Food and Drug Administration to market a generic version of thalidomide. Celgene said Barr is seeking approval for the treatment of moderate to severe erythema nodosum leprosum, an immunologic skin ailment. Celgene markets thalidomide under the brand name Thalomid for treatment multiple myeloma, as well as for erythema nodosum leprosum. Celgene said it plans to file a complaint against Barr, alleging infringement of Celgene patents.
CHC Helicopter Corp. (NYSE:FLI - News) reported second-quarter net earnings of C$8.9 million ($7.2 million), or 20 Canadian cents a share, compared with C$39.2 million, or 85 Canadian cents a share, in the same period last year.
CKE Restaurants Inc. (NYSE:CKR - News) said third-quarter net income fell, as income tax expense rose, to $9.46 million, or 13 cents a share, from $15.8 million, or 23 cents a share, during the same period in the prior year. The company also said its blended same-store sales for November rose 2.9%. The company's Carl's Jr. restaurants posted an increase of 0.5% in comparable sales for the four weeks ended Dec. 4, while its Hardee's restaurants saw a jump of 5.2% in same-store sales for the period. Carpinteria, Calif.-based CKE said total consolidated revenue from company-owned stores for the period reached $95.9 million.
Shares of Cooper Cos. (NYSE:COO - News) slumped after the company reported fiscal fourth-quarter results that came in below its own expectations, which the health-care products maker attributed to order processing and shipping delays, and a lackluster response to its new spherical contact lens products.
Shares of CSX Corp. (NYSE:CSX - News) fell after Bear Stearns downgraded the railroad company to peer perform from outperform, due primarily to concerns over valuation. Analyst Edward Wolfe also said CSX was the most-likely of the large-capitalization companies he covers to miss fourth-quarter earnings expectations due to a drag from fuel hedges, a drop off in volume that was worse than expected and than its peers and management's commitment to stay with its operating plan regardless of near-term cost overrides.
EntreMed Inc. (NASDAQ:ENMD - News) shares fell after the company announced that it plans to sell up to 10.7 million shares of its common stock in a transaction valued at about $17.2 million.
Shares of Monster Worldwide Inc. (NASDAQ:MNST - News) slid after the company said a panel investigating its stock option grant practices found evidence that someone intentionally lowered exercise prices so they would have a higher value. The company said it's restating results to record a total charge of $339.6 million to properly account for options granted between 1997 and March 31, 2003.
The disclosure tamped down the positive effects of a note Wednesday by Piper Jaffray & Co. analyst Brett Manderfeld, who wrote that the operator of the Monster.com jobs board was on track for a fourth-quarter that was in-line with expectations of about 60% sales growth.
Share of OptionsXpress (NASDAQ:OXPS - News) fell after the company reported that while its trading volume improved, its account growth slowed. Also, Raymond James analysts downgraded the shares to outperform from strong buy Wednesday, noting account growth, "was well below expectations."
Peerless Systems Corp. (NASDAQ:PRLS - News) said it swung to a third-quarter net loss, as revenue fell, of $18,000, or breakeven on a per-share basis. During the same period in the prior year, net income was $1.05 million, or 6 cents a share.
Shares of Pozen Inc. (NASDAQ:POZN - News) tumbled on news that regulators want additional data for its proposed migraine medication Trexima before they will consider approving the drug.
Qantas Airways has agreed to an A$11 billion takeover offer from a consortium led by Australia's Macquarie Bank and Texas Pacific Group of the U.S. after the group sweetened its bid by 10 cents a share to overcome the Qantas board's reticence, according to a media report.
SAIC Inc. (NYSE:SAI - News) said third-quarter net income rose, as revenue gained, to $98 million, or 28 cents a share, from $91 million, or 25 cents a share, during the same period in the prior year.
Stanley Furniture Co. (NASDAQ:STLY - News) said it plans to cut 200 of the 450 employees at its Robbinsville, N.C. plant. The cuts include management and hourly employees, according to the wood furniture manufacturer.
Tyson Foods (NYSE:TSN - News) was downgraded to underweight from neutral at J.P. Morgan, citing valuation concerns.
Wet Seal Inc. (NASDAQ:WTSLA - News) said certain shareholders will sell 16 million shares of its Class A common stock in a secondary offering. The shares are being sold by affiliates of Prentice Capital Management LP, S.A.C. Capital Associates LLC and GMM Capital LLC. In addition, the underwriters have been granted an over-allotment option to buy up to 2.4 million additional shares. Foothill Ranch, Calif.-based Wet Seal, an apparel retailer, will not receive any proceeds from the offering, other than those received as a result of the exercise of warrants for shares to be sold in the offering.
-MarketWatch

Labels: ALO, APC, BIOM, BRL, CELG, CKR, COO, CSX, ENMD, FLI, Hot Stocks, MNST, OXPS, POZN, PRLS, SAI, STLY, TSN, WTSLA