Stocks in focus for Wednesday; Analog Devices, Wellcare, TJX, Hertz

Feb.19, 2008 in Market Outlook

Analog Devices, Wellcare, TJX, Hertz

By MarketWatch

Last Update: 6:24 PM ET Feb 19, 2008

SAN FRANCISCO (MarketWatch) — Among the companies whose shares are expected to
see active trade in Wednesday’s session are Analog Devices, Wellcare, TJX and
Hertz.

Analog Devices (ADI) is projected to post earnings of 39 cents a share in the
fiscal first quarter, according to analysts polled by Thomson Financial.

Wellcare Health Plans (WCG) is expected to report earnings of $1.58 a share in
the fourth quarter

TJX Cos. (TJX) is forecast to report earnings of 63 cents a share in the fourth
quarter.

Hertz Global Holdings (HTZ) is projected to post fourth-quarter earnings of 26
cents a share.

AbitibiBowater (ABH) is likely to report a loss of $2.67 a share in the fourth
quarter.

Transocean (RIG) is estimated to post fourth-quarter earnings of $2.55 a share.

Terex Corp. (TEX) is expected to report earnings of $1.40 a share in the fourth
quarter.

Health Management Associates (HMA) is projected to post fourth-quarter earnings
of 7 cents a share.

Allied Capital Corp. (ALD) is forecast to report earnings of 28 cents a share in
the fourth quarter.

Watson Pharmaceuticals (WPI) is likely to report earnings of 31 cents a share in
the fourth quarter.

Career Education Corp. (CECO) is estimated to post fourth-quarter earnings of 30
cents a share.

After Tuesday’s closing bell, Hewlett-Packard Co. (HPQ) reported a first-quarter
profit of $2.1 billion, or 80 cents a share, compared to $1.5 billion, or 55
cents a share, in the year-ago period. Revenue rose to $28.5 billion from
last-year’s $25.1 billion. Excluding charges and one-time items, H-P would have
earned $2.3 billion, or 86 cents a share, to beat the estimates of analysts
surveyed by Thomson Financial, who forecast the company to earn 81 cents a share
on $27.6 billion in sales. For its second quarter, H-P expects to earn 77 cents
to 78 cents a share on revenue in a range of $27.7 billion to $27.9 billion. See
full story
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Watch list

Chiquita Brands International Inc.’s (CQB) fourth-quarter loss narrowed to $26
million, or 67 cents a share, from a year-earlier loss of $41.5 million, or 98
cents a share. Results from the latest quarter included a $26 million
restructuring charge. The fruit producer said sales increased to $1.15 billion
from $1.08 billion, due to higher banana pricing in European and North American
markets. Analysts had expected revenue of $1.12 billion.

Chrysler LLC said a federal bankruptcy judge ruled that it cannot reclaim its
tooling from Plastech Engineered Products Inc., which supplies interior, exterior
and powertrain plastic components. The automaker said it was disappointed with
the decision, but will work with all parties to ensure parts deliveries will
continue to be made to its plants. Plastech filed for bankruptcy Feb 1. after
Chrysler canceled its contracts and allegedly pulled out of a deal to give the
company financial support.

CNET Networks Inc. (CNET) named Dan Farber editor-in-chief of CNET News.com to
replace Jai Singh, who is leaving the company March 10. The media company said
Farber had been vice president of editorial at ZDNet. It also named Larry Dignan
editor-in-chief of ZDNet.

Credit Suisse (CS) has suspended its global head of the collateralized debt
obligations, Kareem Serageldin, along with a number of traders, in connection
with the writedown related to losses on asset-backed securities, the Financial
Times reported on its Web site. The bank so far has not released details on
suspensions, including names of traders involved. Credit Suisse said earlier that
it found “errors” during an internal review in connection with “the operation of
ongoing control processes.” See related story
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Crocs Inc.’s (CROX) fourth-quarter net income rose to $38.3 million, or 45 cents
a share, from $20.8 million, or 26 cents a share, a year earlier. Earnings are
for the current and year-ago periods have been adjusted to reflect the June
2-for-1 stock split, the company said. Crocs’ revenue nearly doubled to $224.8
million from $112.9 million a year ago. Analysts had predicted fourth-quarter
earnings of 44 cents a share and revenue of $207.7 million. Crocs reaffirmed its
2008 earnings and revenue forecasts of $2.70 a share and $1.16 billion,
respectively. Wall Street is looking for 2008 earnings of $2.71 a share and
revenue of $1.18 billion.

Delphi Corp. (DPHIQ) said its fourth-quarter loss narrowed to $542 million from
$853 million as the company said it recorded a tax benefit of $703 million.
Delphi also reported a charge of $595 million to write down assets of
discontinued operations. The auto parts company said revenue fell to $5.3 billion
from $5.5 billion a year earlier. Delphi is attempting to secure financing to
emerge from Chapter 11 bankruptcy protection.

Sealed Air Corp. (SEE) said its board increased the company’s quarterly cash
dividend by 20% to 12 cents. The dividend will be payable on March 21 to
shareholders of record as of March 7.

Fitch Ratings placed Staples Inc.’s (SPLS) BBB+ ratings on Rating Watch Negative
following the company’s proposal to buy Corporate Express NV (CXP) at 7.25 euros
($10.68) a share, for a total of about $3.7 billion. Corporate Express has
rejected Staples’ offer but the office supply company will remain on Rating Watch
Negative until it announces that it will not further pursue its purchase of
Corporate Express, according to Fitch. See related story
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