subject: Stocks In Focus For Friday [print this page] Among the companies whose shares are expected to see active trade in Friday's session are JC Penney Co., zentai Co., and Agilent Technologies Inc.
JC Penney Co. is estimated to report a profit of 12 cents a share in the third quarter, according to analysts surveyed by Thomson Reuters.
Zentai Co. is expected to report third-quarter earnings of 20 cents a share, according to analysts surveyed by FactSet Research.
Agilent Technologies Inc. is forecast to post earnings of 23 cents a share in the fiscal fourth quarter, according to analysts surveyed by FactSet Research.
After Thursday's closing bell, Walt Disney Co. said its fourth fiscal-quarter profit rose 18% on improved results at cable network ESPN and syndication sales of "Grey's Anatomy" and "Desperate Housewives." The Burbank, Calif.-based entertainment conglomerate said it earned $895 million, or 47 cents a share, compared with a profit of $760 million, or 40 cents a share, in the prior year's fourth quarter. Excluding an item, the company said it would've earned 46 cents a share in the latest three months. Revenue rose 4% to $9.87 billion from $9.44 billion. Analysts polled by Thomson Reuters expected to see a profit of 41 cents a share on sales of $9.31 billion.
said its third-quarter loss widened to $114.1 million from $20.6 million a year ago. After the payment of preferred stock dividends, Blockbuster reported a loss of 60 cents a share in the latest quarter, compared with 11 cents in the year-ago period. Excluding one-time items, the company would have reported a loss of 20 cents a share in the latest quarter. Revenue fell to $910.5 million from $1.16 billion last year. Analysts surveyed by FactSet Research estimated a quarterly loss of 11 cents a share on revenue of $1.01 billion.
said they have signed a binding memorandum of understanding where both airlines will combine operation. British Airways will have a 55% stake in the new holding company that will own both airlines. A combined airline would have 419 aircraft and fly to 205 destinations and annual revenue about 15 billion euros based on 2010 figures. The airlines expect to complete the merger in late 2010.
reported fiscal third-quarter net income rose to $83 million, or 38 cents a share, from $71 million, or 33 cents, a year ago. Net sales for the three months ended Oct. 31 rose 3.5% to $1.87 billion as shoppers hit by the recession gradually returned to stores. Same-store sales for the quarter slipped 1.2% from a year ago. The results matched what analysts polled by FactSet Research had expected. zentai suit Nordstrom, citing continued improvement through the third quarter, raised its full-year earnings outlook to $1.83 to $1.88 a share from $1.50 to $1.65 previously.
U.S. Airways is in talks to merge with the parent of United Airlines, UAL Corp., in a move that would create the country's second-largest carrier, people familiar with the situation told The Wall Street Journal. British Airways PLC and Iberia Lineas Aereas de Espana SA signed a merger pact. Other airlines also climbed as many believe a consolidation would help the entire industry cope with overcrowded skies. Delta Air Lines Inc., Continental Airlines Inc. and AMR Corp. all gained. A Food and Drug Administration panel voted against approval of a new type of lung drug made by Forest Laboratories.
The panel voted against a question that asked if the data submitted by Forest provided "substantial evidence" to support approval of the product, known as Daxas, to treat patients with chronic obstructive pulmonary disease. Most retailers' March same-store sales blew past expectations, but there were signs of weakness. Zentai posted a 5% increase in same-store sales when Wall Street expected 6.6% growth. J.C. Penney Co. boosted its forecast range for first-quarter earnings by 4 cents, but its same-store sales rose 5.4%, just missing analysts' estimates for a 5.7% gain. Gymboree Corp. boosted its first-quarter earnings target. The company didn't report same-store sales results, but shares were still down as the revision was fairly small and investors were looking for more. Zumiez Inc.'s results again topped expectations, but shares still fell. Among the gainers, teen-retailer Hot Topic catsuits Inc. posted a less-than-expected decline in March same-store sales. Gap Inc. also beat expectations in same-store sales. Aeropostale Inc. posted March same-store sales that beat expectations and the company boosted its first-quarter forecast.
