Stocks to Watch, Nov. 30: Tiffany & Co., TiVo Inc.
{{#rendered}} {{/rendered}}Among the companies whose shares are expected to see active trade in Wednesday session are Tiffany & Co., TiVo Inc., Smithfield Foods Inc. and Novellus Systems Inc.
Dress Barn Inc. (DBRN) is expected to report fiscal first-quarter earnings of 40 cents a share, according to analysts polled by Thomson First Call.
Jack in the Box Inc. (JBX) is seen posting a per-share profit of 59 cents in its fiscal fourth quarter.
{{#rendered}} {{/rendered}}McData Corp.'s (MCDTA) third quarter is expected to show earnings of a penny a share.
Smithfield Foods Inc. (SFD) is expected to post a profit of 56 cents a share in its fiscal second quarter.
Synopsys Inc. (SNPS) is seen showing per-share earnings of 10 cents in its fiscal fourth quarter
{{#rendered}} {{/rendered}}Tiffany & Co.'s (TIF) third-quarter results are expected to show a profit of 16 cents a share.
After Tuesday's closing bell, Novellus Systems Inc. (NVLS) lowered the top end of its fourth-quarter revenue forecast.
Watch list
{{#rendered}} {{/rendered}}Ashworth Inc. (ASHW) said it has retained Houlihan Lokey Howard & Zukin to advise the company in identifying and evaluating strategic alternatives and options. The retailer said its current stock price does not reflect the true value of the company. Ashworth also forecast a fourth-quarter loss of 15 cents to 17 cents a share on revenue of $55 million. Analysts polled by Thomson First Call currently estimate the company to break even on a per-share basis in the fourth quarter, and for revenue to come in at $50 million. For 2006, Ashworth forecast revenue of $210 million to $220 million. Analysts are expecting 2006 revenue of $200 million.
Chico's FAS Inc. (CHS) said profit shot up 43% in the third quarter as shoppers snapped up the women's-wear fashions and accessories at higher prices.
Discovery Partners International Inc. (DPII) said it has ended discussions with Pfizer Inc. (PFE) regarding a possible new collaboration on pharmaceutically relevant chemical compounds. Discovery's current agreement with Pfizer expires Jan. 5. As a result, Discovery said it expects to have a reduced need for combinatorial chemistry and library synthesis capacity. The San Diego-based biopharmaceutical company said it plans to close all operations at its South San Francisco, Calif., facility during the first quarter of 2006, except for its compound management services. The company also said it will consolidate its chemistry platform into its facility in San Diego. Discovery Partners said it expects to incur up to $10 million in restructuring and impairment charges.
{{#rendered}} {{/rendered}}FirstEnergy Corp. (FE) raised its 2006 earnings forecast by 5 cents a share, to a range of $3.45 to $3.65 a share, excluding any unusual items. The Akron, Ohio-based company also said its subsidiaries will make a voluntary contribution of $500 million to $600 million to its pension plans by the end of 2005. The impact is expected to add to earnings. The after-tax cost of the contributions is estimated at $300 million to $360 million. FirstEnergy also said it expects net cash from operating activities in 2006 to exceed $2 billion.
Gottschalks Inc. (GOT) reported a fiscal third-quarter net loss of $1.63 million, or 12 cents a share, vs. a net loss of $1.53 million, or 12 cents a share, during the same period a year ago. There were 13,314 shares outstanding in the quarter compared with 12,927 in the year-ago period. The Fresno, Calif.-based retailer posted revenue of $151.8 million vs. $148.4 million.
Microchip Technology Inc. (MCHP) reaffirmed its fiscal third-quarter earnings outlook of 32 cents a share on revenue of $234 million. The company said it expects revenue from its analog division to grow about 20% sequentially and by more than 40% compared with the third quarter of fiscal 2005. Additionally, Microchip Technology revised its long-term gross margin outlook to 62% from 60%.
{{#rendered}} {{/rendered}}Semtech Corp. (SMTC) reported third-quarter net earnings of $11.5 million, or 15 cents a share, down 21% from $14.6 million, or 19 cents a share, in the year-ago period. Revenue at the Camarillo, Calif.-based semiconductor company fell to $60.9 million from $65 million last year. Analysts polled by Thomson First Call had estimated earnings of 14 cents a share on revenue of $60 million. Semtech forecast fourth-quarter earnings of 16 cents a share and expects revenue to rise 4% to 6% sequentially. Analysts expect a fourth-quarter profit of 16 cents a share on revenue of $63 million.
TiVo Inc. (TIVO) indicated its fourth-quarter revenue would fall short of analyst expectations.
Wet Seal Inc. (WTSLA) reported a third-quarter net loss of $6.45 million, or 14 cents a share, compared with a restated net loss of $24.2 million, or 67 cents a share, in the same period last year. Net sales rose to $129.3 million from $110.8 million, the Foothill Ranch, Calif.-based teen retailer said, driven by a 46.6% increase in same-store sales but offset by a reduction in store count that resulted from the closure of 153 stores since the close of the year-ago third quarter.