Friday Stocks to Watch

The market is trading higher in the afternoon after the good house data reported this morning. Maybe the economy is not as bad as people think. Perhaps buyers are back now.
Here are the stocks to be watched on your list from MarketWatch:

Advancers

3Com Corp. (COMS) shares rose Friday after the company narrowed its third-quarter net loss to a penny a share from 8 cents in the year-earlier period. Revenue at the provider of voice and data networking solutions nearly doubled to $323.4 million vs. $177.6 million. Additionally, the Chinese government cleared 3Com's proposed $882 million acquisition of Huawei Technologies' 49% stake in the Huawei-3Com Ltd. joint venture.

Advancis Pharmaceutical Corp. (AVNC) said it has resubmitted a new drug application with the Food and Drug Administration for its once-daily amoxicillin Pulsys product, a treatment for adolescents and adults with pharyngitis/tonsillitis. The Germantown, Md.-based company said it believes it responded to the FDA's requests for more information fully and directly. Advancis said it sees the anticipated target action date for the product's application as January 2008.

Bel Fuse (BELFA)(BELFB) shares jumped after Technitrol Inc. (TNL) sent a letter to the board of Bel Fuse offering to acquire the company for $40.30 a share, or $480 million, in cash.

DaimlerChrysler (DCX) shares rose on speculation it had issued a letter to employees prohibiting insider share sales in conjunction with the possible sale of Chrysler, though a spokesman for DaimlerChrysler rejected the rumor.

Dreamworks (DWA) was lifted to buy from neutral at Goldman Sachs.

Shares of storage hardware makers EMC Corp. (EMC) and Network Appliance (NTAP) gained, lifted by Wall Street upgrades.

G-III Apparel Group Ltd. (GIII) swung to a fiscal fourth-quarter profit of 3 cents a share from a loss of 23 cents in the year-earlier period. The New York apparel maker's net sales rose 43% to $98.8 million. Analysts polled by Thomson Financial predicted earnings of 2 cents on revenue of $99.4 million. G-III expects a first-quarter loss of 51 cents to 56 cents a share and net sales of $28 million.

General Motors Corp. (GM) shares rose after Merrill Lynch in a note reiterated that it has a $50 price target for the stock and said it's currently trading well below its historical range

Shares of ImClone Systems Inc. (IMCL) jumped Friday after rival Amgen Inc. (AMGN) said it discontinued a trial of colon cancer treatment Vectibix because it reduced patient survival. ImClone's Erbitux competes with Vectibix. See full story.

Kronos Inc. (KRON) signed a definitive agreement to be acquired by private equity firm Hellman & Friedman Capital Partners VI LP and its related funds in a transaction valued at about $1.8 billion. The Chelmsford, Mass., maker of data collection systems said its shareholders will receive $55.00 a share in cash, a 34.4% premium over its closing share price from 20 trading days ago. The company's board has approved the agreement and will recommend that shareholders approve the agreement. Kronos said the transaction is expected to be completed in the fourth quarter ending Sept.

New Century Financial (NEWC) agreed to transfer $900 million of loans to Barclays Plc, one of its financial backers, as the subprime mortgage specialist tries to recover from a credit crunch in the sector. See full story.

New York Times Co. (NYT) lifted the quarterly dividend 31%, to 23 cents a share from 17.5 cents, payable June 13 to holders of record as of June 1.

Palm's (PALM) fiscal third-quarter earnings fell, though revenue beat Wall Street's forecasts thanks to strong sales of its smart-phone products. See full story. The company was cut to reduce from neutral at UBS.

Paxar Corp. (PXR) said Avery Dennison Corp. (AVY) agreed to buy the label and tag company for $30.50 a share, or about $1.34 billion.

Power-One Inc. (PWER) shares rose after the company said the U.S. District Court for the Eastern District of Texas has completed the Markman hearing in its patent litigation against Artesyn Technologies and issued its claim construction ruling, which Power-One said "decides a number of important issues" in its favor. Power-One said the court's ruling rejects a defense raised by Artesyn, a unit of Emerson Electric Co. , that Power-One's patents are invalid as being indefinite. "The court's ruling is a big positive for our litigation and validates our belief in the broad meaning and scope of our patent claims," said Power-One Chief Executive Bill Yeates in a statement.

Pozen Inc. (POZN) said the Food and Drug Administration accepted for review its amended response to the agency's approvable letter for its Trexima migraine treatment. Pozen said the FDA has also notified the company that it expects a Class II review, which could result in a new decision date of Aug. 1. Pending FDA clearance, the product could be available in the second half of 2007, the Chapel Hill, N.C., company said.

Royal Ahold (AHO) was upgraded to buy from neutral at Merrill Lynch on the supermarket operator's fourth-quarter figures. "Less leveraged, more orderly in operating terms and with over 5 billion euros of property on the balance sheet, the group could then start to consider increased investment or further possible 'asset-funded' distributions to investors," the broker said.

Smithway Motor Xpress Corp. (SMXC) said Friday it would be acquired by Western Express Inc. in a deal with an enterprise value of about $90 million, including existing debt. Smithway, a Fort Dodge, Iowa, trucking company, said its stockholders will receive $10.63 a share, an 18% premium over Thursday's closing price, for an equity value of $54 million. Separately, Smithway reported that it swung to a fourth-quarter loss of $42,000, or a penny a share, from a year-earlier profit of $755,000, or 15 cents a share, due partly to an uninsured loss and legal expenses from a settlement.

Shares of State Street (STT) rose Friday after analysts at UBS upgraded the shares to buy from neutral.

Synnex Corp. (SNX) shares gained after the Fremont, Calif.-based company reported fiscal first-quarter net income of $13.9 million, or 43 cents a share, up from $10.7 million, or 34 cents a share, in the year-ago period. Revenue for the quarter ended Feb. 28 rose to $1.59 billion from $1.5 billion. Analysts polled by Thomson Financial were expecting earnings of 40 cents a share on revenue $1.61 billion. Synnex forecast fiscal second-quarter earnings of 43 cents to 45 cents a share on revenue of $1.595 billion to $1.645 billion. Analysts are looking for a per-share profit of 41 cents on revenue of $1.62 billion.

Urban Outfitters (URBN) was upgraded to outperform from market perform at Wachovia Securities after a meeting with management that convinced the broker that a turnaround is well underway. "After a challenging year in which margins fell 560 basis points and earnings declined 10%, management was forced to take a hard look at virtually all aspects of the business. What it found were several areas that could benefit from improved efficiencies including real estate, store construction, and sourcing," Wachovia said.

Decliners

Amgen (AMGN) discontinued a clinical trial evaluating the addition of its Vectibix drug to a treatment regimen of chemotherapy and Avastin in patients with metastatic colorectal cancer. The combination was found to hinder patient survival. See full story.

A. Schulman Inc. (SHLM) cut its fiscal 2007 earnings outlook on continued weakness in Europe and North America during the second quarter ended Feb. 28. The Akron, Ohio, supplier of plastic compounds and resin now expects net income for the year ending Aug. 31 of $25 million to $30 million, below the prior estimate that it would meet or exceed fiscal 2006 net of $32.7 million.

Bookham Inc. (BKHM) shares slipped after the San Jose, Calif.-based maker of optical components, modules and subsystems said it will sell 13.7 million shares and warrants to purchase 4.1 million shares in a private placement. The company said the offering will generate gross proceeds of roughly $28.6 million. The warrants, which have a term of five years and will become exercisable after Sept. 23, have an exercise price of $2.80 per share, subject to adjustment. Bookham plans to use the proceeds from the offering for general working capital.

Ceco Environmental Corp. (CECE) reported fourth-quarter net earnings of $1.2 million, or 9 cents a share. During the same period a year ago, the company posted a net loss of $393,000, or 4 cents a share. The New York-based provider of air pollution control and industrial ventilation systems reported revenue of $41.5 million vs. $23 million.

Comverse Technology (CMVT) reported a fourth-quarter loss from operations of $18.2 million, compared with earnings of $20.6 million in the year-earlier period. Adjusted earnings were $26.6 million versus $34.3 million. In addition, the first phase of the company's stock-option inquiry is complete and it has recorded $314 million of expense for the period during which it is restating results.

Genentech Inc. (DNA) backed its 2007 earnings growth forecast on Friday and said it expects first-quarter U.S. product sales to be essentially flat compared with the fourth quarter, but lifted its short-and long-term drug production goals. See full story.

Hana Biosciences Inc. (HNAB) shares tumbled after the South San Francisco, Calif.-based company announced it is no longer pursuing a special protocol assessment for its drug Marqibo with the Food and Drug Administration due to an FDA policy restricting SPAs to randomized trials. Marqibo is being developed to treat acute lymphoblastic leukemia. Hana said it will conduct a Phase II, open-label trial in relapsed adult ALL. The company also plans to initiate a Phase III randomized, multicenter trial comparing Marqibo to vincristine in elderly patients with ALL. In addition, Hana said it will withdraw its new drug application for Zensana and stop development of the drug's original formulation. Zensana was being developed to prevent nausea and vomiting as a result of chemotherapy, radiation, and surgery. Hana added that it is evaluating a new formulation of Zensana.

IHS Inc., (IHS) the Englewood, Colo., provider of technical information, tools and services, said a holder began a secondary offering of 3.75 million shares.

Jabil Circuit Inc. (JBL) reported fiscal second-quarter revenue rose 27% to $2.9 billion. The contract manufacturer for the electronics industry didn't provide earnings results because accountants and board's audit committee are still reviewing its previous financial statements. For the third quarter, Jabil estimates a result between a loss of 8 cents a share and a profit of 4 cents a share as revenue ranges $2.9 billion to $3 billion.

Newtek Business Services Inc. (NEWT) shares sank after the New York-based company late Thursday reported fourth-quarter net earnings of $3.9 million, or 11 cents a share, on revenue of $29.8 million. For 2007, the company forecast a net loss of 30 cents to 33 cents a share on revenue of $90.5 million to $92.5 million.

Nike Inc. (NKE) reported a nearly 8% jump in quarterly profit, helped by strength in Europe and Asia and favorable currency exchange, but said profit margins in the current quarter and year would be flat or slightly down. See full story.

Reliant Energy (RRI) was cut to sell from neutral at Banc of America, which said the company's valuation doesn't support the current stock price.

RF Monolithics Inc. (RFMI) swung to a second-quarter loss of 44 cents a share from year-earlier net income of 2 cents, as revenue fell 2.7% to $12.3 million. The Dallas wireless technology company expects third-quarter sales to rise 5% to 10% sequentially. The company said it expects fiscal 2008 per-share earnings of 15 cents to 25 cents.

Vonage (VG) shares fell Friday after a federal judge ordered the Internet-phone company to stop using patented technology owned by Verizon Communications Inc. (VZ). See full story.

Thursday Stocks to Watch

The market is trading mixed in the afternoon after yesterday's massive advance with confirmation. It is time to nibble at stocks again after yesterday's rally confirmation. Although it is no guarantee of success of the new bull emerges, it is time to get back to stocks slowly in case the confirmation is false.
Here are stocks worth watching:

Advancers

Actuant Corp. (ATU) said fiscal second-quarter earnings fell to $18.9 million, or 62 cents a share, from $19.3 million, or 63 cents a share, a year earlier. Excluding a charge related to the restructuring of its European electrical business, earnings would have been 71 cents a share. Revenue rose 24% to $341 million from last year's $276 million, helped by growth in all four of its business units, acquisitions and a weaker U.S. dollar. Analysts surveyed by Thomson Financial had been expecting earnings of 70 cents a share and revenue of $326.9 million, on average. For the third quarter, the Milwaukee diversified industrial company said it expects earnings of 89 to 96 cents a share, vs. analyst forecasts of 90 cents a share, and revenue of $360 million to $370 million. The company raised its 2007 earnings estimate to $3.30 to $3.45 a share and its revenue projection to $1.39 billion to $1.41 billion.

Adams Respiratory Therapeutics Inc. said it settled a patent dispute with Pharmaceutical Holdings Corp. subsidiaries Mutual Pharmaceutical Co. and United Research Laboratories Inc. Adams said the patent covers its extended-release guaifenesin single-agent and combination products.

Alon USA Energy (ALJ) was upgraded to outperform from neutral by Credit Suisse after the company's analyst presentation in New York City. "The presentation reviewed existing operations at the Big Spring refinery, the strategy for the retail business and more details on the economics of the asphalt segment. The key takeaways from the meeting are likely to come from better transparency into the earnings power and EBITDA contribution of the recently acquired California refineries."

Bombay Co. (BBA) said fiscal fourth-quarter losses narrowed to $1.7 million, or 5 cents a share, from $25.1 million, or 69 cents a share, a year earlier. Revenue for the quarter ending Feb. 3 increased to $188.2 million from last year's $186.9 million, while same-store sales 3.1%. The Fort Worth, Tex. home accessories retailer said it has engaged William Blair & Co. to explore ways to provide additional liquidity.

Citi Trends Inc. reported fourth-quarter earnings rose 31% to $10.4 million, or 73 cents a share. The Savannah, Ga., retailer posted revenue of $126.8 million vs. $96.8 million. Analysts polled by Thomson Financial had forecast fourth-quarter earnings of 70 cents a share on revenue of $126 million. Same-store sales for the quarter rose 1.3%.

FortuNet Inc. (FNET) shares rose after the Las Vegas-based maker of multi-game server-based gambling platforms late Wednesday reported fourth-quarter net earnings of $1.27 million, or 11 cents a share, up from $541,418, or 7 cents a share, in the year-ago period. Revenue rose to $4.41 million from $3.7 million.

Glu Mobile's (GLUU) shares surged in the company stock market debut. See full story.

Hutchison Whampoa Ltd. (HUWHY) reported 40% growth in net earnings for 2006, bolstered by a narrower loss incurred in the conglomerate's third-generation, or 3G, mobile-communications business. See full story.

IHS Inc. (IHS) shares rose after the company late Wednesday reported fiscal first-quarter net income of $18.4 million, or 32 cents a share, up from $13.5 million, or 24 cents a share, in the year-ago period. Revenue at the Englewood, Colo.-based oil and natural gas services company rose to $152.6 million from $129.9 million. IHS also raised its revenue growth forecast to a range of 11% to 13% and raised its adjusted EBITDA growth forecast to a range of 18% to 22% percent for the fiscal year ending Nov. 30. Separately, IHS said it has acquired RapiData from Rapid Technology Corp. Financial terms were not disclosed.

Komag Inc. said it expects first-quarter revenue to exceed an earlier forecast. The computer-hard-disk maker estimates its sales to be slightly above 2006 fourth-quarter revenue of $255.9 million; it had forecast first-quarter sales to be down 2% to 3% from the fourth quarter. The company also said its net margins should be below the midpoint of its forecast range of 12% to 14%.

Ligand Pharmaceuticals Inc. plans to pay a dividend of $2.50 a share. The San Diego developer of small-molecule drugs said the dividend is payable April 19 to shareholders of record April 5. Ligand's board also authorized up to $100 million in share repurchases over the next 12 months.

Misonix Inc. (MSON) shares surged after the Farmingdale, N.Y.-based medical device maker said the first human kidney cancer treatments using its Sonatherm 600 were successfully completed with positive ablation effect noted on the cancer cells. The Sonatherm 600 uses high intensity focused ultrasound.

Procter & Gamble (PG) was upgraded to outperform from peer perform at Bear Stearns which said the consumer-products giant's valuation is too low for a company with such a strong track record.

RCM Technologies Inc. reported fourth-quarter earnings nearly tripled to $2.33 million, or 19 cents a share. The Pennsauken, N.J., company posted revenue of $54.2 million vs. $46.8 million.

Saks Inc. (SKS) was upgraded to buy from hold at Citigroup, which said the department-store operator's turnaround initiatives are starting to gain traction.

Sigma Designs Inc. said its fiscal fourth-quarter revenue tripled to $31.2 million. The company's board is still reviewing its stock-option practices. As a result, the Milpitas, Calif., maker of silicon-based media processors may miss the deadline for filing its financial report.

Tweeter Home Entertainment Group Inc. (TWTR) on Thursday said it would restructure its operations, which will include closing 49 stores, two regional facilities, and exiting certain regions of the country. Tweeter will close all of its stores in California, Tennessee, Alabama, New York, and most of Georgia within two to three months, resulting in layoffs of about 20% of its workers. Tweeter will move from 153 stores and $735 million in revenue, to 104 go-forward stores and $555 million in revenue. The move will result in charges of about $50 million to $60 million, related to its store and facilities closings. In addition, Tweeter said it entered into a new $75 million senior secured revolving credit facility with GE Capital Corp. The five year facility provides Tweeter with additional liquidity at more favorable rates.

Tyson Foods (TSN) said it planned to sell two poultry plants in Alabama to Koch Foods Inc. Financial terms of the deal were not disclosed. The Springdale, Ark. meat processor said many of the 1,200 employees at the plants are expected to be offered jobs at Koch, but 400 of 675 jobs at a plant in Gladsen, Ala. will be eliminated.

Decliners

Alcatel-Lucent (ALU) was downgraded to neutral from buy at Goldman Sachs, which said the French-American telecom equipment carrier's revenue was "in free fall" due to integration issues. It doesn't see a sales recovery before the third quarter.

Amerigroup Corp. cut its full-year 2007 profit forecast to account for costs associated with securing litigation-related financing. See full story.

Avalon Pharmaceuticals (AVRX) saw its shares skid Thursday. Late Wednesday, the drugmaker reported a fourth-quarter net loss of $4.4 million, or 43 cents a share, compared with a loss of $3 million, or 37 cents, for the same period in 2005. Avalon also said it's withdrawing its listing from NYSE Arca, formerly the Pacific Exchange, to save on administrative costs. The withdrawal is expected within the next month.

Barnes & Noble Inc. (BKS) turned in a slightly higher fourth-quarter profit on Thursday, but warned investors of a loss in the first quarter, pressuring shares. See full story.

Borders Group, (BGP) outlined a reinvention strategy, with a plan to focus on domestic superstores, slash the size of its Waldenbooks chain and consider alternatives for its international business. See full story.

Clarcor Inc.'s first-quarter net income rose to 32 cents a share from 31 cents in the year-earlier period. The Franklin, Tenn., maker of filtration and industrial-packaging products said sales fell 1.7% to $209.5 million from $213.2 million a year ago. On average, analysts polled by Thomson Financial predicted 36 cents of profit on $222 million of revenue.

CRA International Inc. (CRAI) shares fell after the Boston-based consulting company reported fiscal first-quarter net earnings of $7.1 million, or 56 cents a share, up from $5.6 million, or 47 cents a share, in the comparable period last year. Revenue rose 14.9% to $83.3 million from $72.5 million. Analysts polled by Thomson Financial were expecting a per-share profit of 57 cents on revenue of $86.2 million. The company forecast fiscal 2007 earnings-per-share growth of 18% to 23%, and percentage revenue growth in the mid to high teens.

Shares of International Rectifier Corp. (IRF) fell, hitting a 2-month low in intraday trading, after Lehman Bros. downgraded the power management technology company to equal weight from overweight, citing the belief that business was decelerating.

Intuit Inc. said its TurboTax federal unit sales through March 17 rose 1% to 10.9 million from 10.8 million a year earlier. The Mountain View, Calif., provider of business and financial-management services expects total unit growth of 3% to 5% for the full season. Intuit also affirmed its segment revenue growth forecast of 10% to 15% and its fiscal 2007 outlook.

Herman Miller Inc. reported fiscal third-quarter earnings rose 44% to $32.3 million, or 50 cents a share as revenue rose 14% to $484.8 million. Analysts polled by Thomson Financial were expecting profit of 52 cents on revenue of $491 million. The Zeeland, Mich., furniture maker expects fiscal fourth-quarter earnings of 47 cents to 51 cents on revenue of $485 million to $505 million.

Modine Manufacturing Co. (MOD) said it now expects to breakeven or report a loss for its fiscal fourth-quarter. The Racine, Wis. thermal management systems company said it revised its outlook given the sharp rise in nickel prices since January, and due to an expected charge related to warranty events in its European business. The company said it a slower-than-expected start-up of a new truck customer continues to impact results.

Motorola (MOT) saw its stock drop to a new 52-week low Thursday morning following the company's latest earnings warning, which was again sparked by disappointing sales of its wireless handsets. See full story.

New York & Co. (NWY) fell Thursday after the women's apparel retailer reported a rise in fiscal fourth quarter profit but said its earnings for the current three-month period are apt to come in below Wall Street's hopes. See full story.

Nortel Networks (NT) said it has launched the sale of $1 billion worth of convertible debt. The Toronto telecommunications equipment maker said it will grant the underwriters of the offering options to buy up to $150 million worth of additional debt to cover over-allotments. The company expects use the proceeds from the sale, expected to be about $980 million, to pay down debt.

PDI Inc. said a large pharmaceutical company customer won't renew its contract sales engagement with PDI when it expires May 12. The Saddle River, N.J., provider of commercialization services to biopharmaceutical companies said the contract was for one year and $35 million.

Palm (PALM) shares amid dwindling speculation the company will be purchased by Motorola Inc. (MOT) . See full story.

Raytheon Co. increased its annual dividend by 6% to $1.02 a share from 96 cents.

RF Micro Devices (RFMD) was downgraded to sector performer from sector outperformer by CIBC World Markets, and the broker also removed its $9 price target. "We believe RFMD's story outside of Motorola remains strong and consistent, yet given Motorola's contribution to RFMD's top line we see downside to our fiscal 2008 targets," the broker said.

Scholastic Corp. (SCHL) shares dropped as much as 13% Thursday after the book publisher cut its annual earnings outlook, citing weaker-than-expected results in its school-based and direct-to-home continuity programs. See full story.

Shares of Tessco Technologies (TESS) shares dropped after the wireless systems products company warned late Wednesday that revenue for the current quarter will be lower than expected. The Hunt Valley, Md. company said revenue for the quarter ending March will be up 30% from year-earlier levels but fall short of forecasts, and fiscal year earnings are expected to be at the low end of the previously provided forecast of $1.15 to $1.22 a share

Wednesday Stocks to Watch

The market is trading slightly higher after the FED kept its lending rate at 5.25% for the 6th straight meeting. Looks like inflation is still not out of the wood yet even though we saw some down turn in the housing market along with the subprime markets.
Keep your eyes on how the market reacts to the news with volumes. If the timing is right, just jump it. Here is the movers and shakers from MarketWatch for you to use as a watch list:

Advancers

Adobe Systems Inc (ADBE) said first-quarter profit rose 37%, helped by non-operating income and a lower tax bill, while sales slipped from a year ago as customers delayed purchases ahead of an important product launch. See full story.

AirTran Holdings (AAI) was upgraded to overweight from neutral by J.P. Morgan after the stock has "taken a beating." The broker said "second-half 2007 competitive supply trends appear benign, and AirTran's multi-month hiatus from aircraft deliveries and city-adds should lead to positive revenue per available seat miles and above consensus earnings."

American Axle Manufacturing (AXL) was upgraded to buy from neutral at UBS.

American Superconductor Corp. (AMSC) said it's received an order worth roughly $8 million for an additional 150 1.5 megawatt wind turbine electrical systems from China's Sinovel Wind Corp. Ltd.

Automatic Data Processing (ADP) said it now sees growth of 20% to 23% in earnings per share from continuing operations in fiscal 2007. It sees revenue growth of 12% to 13% for the year. This revised view reflects the anticipated completion of the spin-off of its Brokerage Services Group on March 30. The company also provided an outlook for its Broadridge operations, saying it expects revenue growth of 7% to 9% for the fiscal year ending June 30 from its fiscal 2006 total of $1.93 billion. ADP said Broadridge sees operating income growth of 9% to 14% for fiscal 2007 from its total of $303 million for fiscal 2006. This view excludes expenses from the spin-off, interest expense on new debt and public company expenses.

Avalon Pharmaceuticals' (AVRX) shares rose in midday action on Wednesday. The Germantown, Md., cancer therapeutics developer is scheduled to release its results for the fourth quarter and fiscal 2006 after the closing bell.

Chaparral Steel Co. reported third-quarter net earnings of $62.5 million, or $1.29 a share, up 27% from $49.2 million, or $1.03 a share, during the year-ago period. The Midlothian, Texas-based producer of structural steel beams and supplier of steel bar products posted net revenue of $420.2 million vs. $374.6 million. Additionally, Chaparral said that based on current market conditions, it expects the fourth-quarter earnings of $1.35 a share. The company said it believes the end user demand for its products will remain strong.

Clorox (CLX) was upgraded to overweight from neutral by J.P. Morgan, which said the company will benefit from declining resin prices. "We think Clorox is also best positioned in case of a global economic slowdown, through low international sales, and high materials exposure," the broker said.

Ediets.com (DIET) posted fourth-quarter earnings from continuing operations of $100,000, or break even on a per share basis, with revenue of $9.5 million. The company also said it expects to launch its DeliciouslyYours weight loss meal delivery offering in the second quarter.

Fortress Investment Group (FIG) said late Tuesday its board has declared a partial first-quarter dividend of 12.25 cents a share, reflecting its initial public offering pricing date of Feb. 8. The company said its annualized dividend will be 85 cents a share, up 25% from its pre-IPO annualized payout of 68 cents. A number of firms also started coverage of the company, including Lehman Bros. with an overweight rating and Goldman Sachs with a buy rating.

Fremont General Corp. (FMT) said it'll book a $140 million pre-tax loss in the sale of $4 billion of its sub-prime residential real estate loan portfolio. The company said it's received a first installment of $950 million in the deal, with other sales agreements expected over the next several weeks. Fremont did not name the buyer. "The company will sell the loans at a discount, reflecting current conditions in the sub-prime mortgage market," the Santa Monica, Calif., company said.

GSI Commerce (GSIC) was upgraded to buy from neutral at Goldman Sachs.

ICF International Inc. swung to a fourth-quarter profit of $9.21 million, or 65 cents a share, from a loss of $1.03 million, or 11 cents a share, a year earlier. The Fairfax, Va., provider of consulting and technology services said revenue more than doubled to $113.9 million from $51.8 million a year ago. On average, analysts polled by Thomson Financial predicted fourth-quarter revenue of $100 million. ICF International expects first-quarter revenue of $125 million to $135 million and 2007 revenue of $480 million to $520 million. Analysts predict first-quarter and 2007 revenue of $96.9 million and $399 million, respectively.

IMAX Corp. (IMAX) signed a deal to install a theatre in the Daqing Science and Technology Museum in China.

Medivation Inc. (MDVN) was initiated with an outperform rating at RBC Capital Markets. The firm set a price target of $24.

Microsemi Corp. (MSCC) was upgraded to outperform from market perform at Piper Jaffray. The firm lifted its price target to $25 from $20, citing improved business trends.

Morgan Stanley (MS), the last of four big Wall Street banks to report earnings for their first quarter ending in February, said Wednesday that profit in the period rose 70%, to $2.67 billion, or $2.51 a share, compared to $1.57 billion, or $1.48 a share a year ago. Revenue in the quarter rose to $11 billion, from $8.55 billion a year ago. The company said favorable mortgage positions helped trading results in the quarter. See full story.

Nvidia (NVDA) was upgraded to buy from neutral at Goldman Sachs. The firm cited valuation and set a six-month price target of $33.

OfficeMax (OMX) was upgraded to buy at Goldman Sachs. The firm said it believes the office supply retailer is still a "vibrant turnaround story, with significant margin opportunity relative to its competitors." Analyst Matthew Fassler said the company's operating margins are still well below its competition, citing inferior sales productivity, weak store concentration compared to its rivals, and a contract business more heavily weighted toward lower-margin large customers. "We expect operating momentum from tangible initiatives to continue to drive margins higher," Fassler wrote in a note to clients.

OptionsXpress Holdings (OXPS) named David Fisher, previously its chief financial officer, to the president position. Adam DeWitt was tabbed to succeed Fisher as CFO. The company also said Ned Bennett, one of its founders, will become executive vice-chairman.

Oracle reported fiscal third-quarter profit rose 35%, helped by a surge in sales of the business-software applications Chief Executive Larry Ellison has acquired during a three-year acquisition spree. See full story.

Stein Mart Inc. (SMRT) said fourth-quarter earnings rose to $21.07 million from $21.06 million a year earlier, while earnings-per-share remained flat at 48 cents. The Jacksonville, Fla., fashion-merchandise retailer said sales rose 7.9% to $461 million from $427.4 million in the year-ago period. Stein Mart said the latest period included an extra week, which added $19.7 million in sales and about 4 cents to earnings per share. Same-store sales, or sales at stores open at least a year, rose 0.9% for the latest quarter. Analysts polled by Thomson Financial expected, on average, fourth-quarter earnings of 41 cents a share.

Targa Resources Partners LP (NGLS) was initiated with a buy rating and a $29 price target at A.G. Edwards.

Telestone Technologies Corp. (TSTC) shares surged after the Beijing-based provider of wireless communications equipment reported fourth-quarter net income rose 12.2% to $1.6 million, or 19 cents a share, from $1.4 million, 17 cents a share, in the year-ago period. Revenue rose 35% to $7.4 million from $5.5 million in the prior-year quarter.

Tiffany & Co. (TIF) was upgraded to buy from neutral at Banc of America Securities. The firm lifted its price target to $52 from $44.

Ultralife Batteries (ULBI) said it's received an order worth about $1.6 million for its BA-5390 battery from the Defense Department.

Velocity Express Corp. (VEXP) said it's recently signed a multi-year contract renewal, representing more than $13 million in annual revenue, with its largest financial services customer. Westport, Conn.-based Velocity Express, which provides regional delivery services, did not name the customer. As part of the contract, Velocity Express said it will continue to manage primary transportation needs for the customer in markets in the south, northeast and west coast states.

WSI Industries (WSCI) shares jumped after the Minneapolis-based maker of parts for the avionics and defense industries reported fiscal second-quarter net earnings of $155,000, or 6 cents a share, up from $69,000, or 3 cents a share, in the year-ago period. Revenue rose to $4.44 million from $3.57 million. The company said it expects continued top-line growth in the second half of fiscal 2007.

Decliners

AAR Corp. (AIR) reported net income of $15.3 million, or 36 cents a share, for the third quarter ended Feb. 28, up from the prior year's $9.1 million, or 24 cents. The Wood Dale, Ill.-based supplier of equipment used in aviation and aerospace applications tallied quarterly sales of $271 million, including $16.5 million from the sale of two aircraft at book value. AAR's year-earlier revenue amounted to $223.4 million. Earnings from continuing operations were 37 cents for the latest quarter, the company said. Analysts were looking a profit of 37 cents a share, according to estimates compiled by Thomson Financial. Operating income improved to $25.5 million, up from $18 million in the year-ago third quarter.

Shares of Agilysys Inc. (AGYS) slumped following a downgrade at Raymond James to market perform from outperform, due primarily to concerns over valuation. Analyst Brian Alexander said if the information technology services company's management executes its 3-year plan, the stock could exceed $30. "Discounting this back to the present, however, results in a current price of $22.74," Alexander said in a research note. So at Tuesday's closing price of $22.66, Alexander said the stock appears "fully valued."

Alcoa (AA) was downgraded at Prudential to neutral weight from overweight, citing concerns over a doubling in output growth out of China and higher costs estimates. Analyst John Tumazos cut his price target for the aluminum producer's stock to $38 from $41, his 2007 earnings estimate to $3.38 a share from $3.72 and his 2008 estimate to $2.73 a share from $2.88. His unit cost assumption increased by 2%. Alcoa's stock, a component of the Dow industrials, was down 1.1% at $33.68 ahead of the open. Alcoa's downgrade comes as Tumazos lowered his rating on the aluminum industry to unfavorable from favorable. He also downgraded Alcan (AL) to underweight from overweight, and cut his price target to $48 from $60.

Buffalo Wild Wings (BWLD) was downgraded to hold from buy at Jefferies & Co.

Charming Shoppes Inc. (CHRS) said fiscal fourth-quarter net income rose to $24.9 million, or 19 cents a share, from $19.2 million, or 15 cents a share, in the year-ago period. Net sales rose to $874 million from about $800 million. Analysts, on average, expected it to earn 19 cents a share on revenue of $863 million, according to Thomson Financial. Sales at stores open at least one year fell 1%. For the year, Charming Shoppes expects to earn 85 cents to 89 cents a share, assuming total sales in a range of $3.25 to $3.3 billion and low single-digit percentage increases in consolidated same-store sales. For the first quarter the company, which operates Lane Bryant, Catherines and Fashion Bug stores, forecast earnings per share in the range of 19 cents to 21 cents with total sales in a range of $780 to $790 million, and flat consolidated same-store sales. Analysts polled by Thomson Financial expect it to earn 28 cents a share on revenue of $786 million for the first quarter, and post a profit of 92 cents a share on revenue of $3.25 billion for the year, on average.

Cintas Corp.'s fiscal third-quarter net income rose slightly to $76.7 million, or a 48 cents share, from $76.6 million, or 45 cents a share, a year earlier. The Cincinnati provider specialized services to businesses said revenue for the quarter ended Feb. 28 rose 8.2% to $905.4 million from $836.4 million a year ago. Cintas cut its 2007 earnings and revenue forecast to ranges of $2.03 to $2.08 a share and $3.675 billion to $3.725 billion, respectively.

Cost Plus (CPWM) has rescheduled the release of its results for the fourth quarter and fiscal 2006 to April 12 from March 22. The Oakland, Calif., off-price retailer said it needs additional time to finish its statements and allow the independent auditor to complete their work.

Darden Restaurants Inc. reported a slight bump in fiscal third-quarter net profit late Tuesday with the help of a tax break -- and the company stuck to its full-year earnings and sales growth target. See full story.

Diversa Corp. (DVSA) said it plans to sell about $75 million worth of convertible subordinated notes due 2027 in a private placement. The deal includes an over-allotment option for the sale of an additional $11.25 million in notes.

FedEx Corp. (FDX) said fiscal third-quarter earnings fell 2% to $420 million, or $1.35 a share, from $428 million, or $1.38 a share, a year earlier, hurt by a "slowing economic environment", lower fuel surcharges and 6 cents a share due to winter storms. The company said the latest period was helped by 8 cents a share from a reduction in its effective tax rate. The Memphis-based package-delivery company said revenue for the period ended Feb. 28 rose 7% to $8.59 billion from $8 billion in the year-ago period. Analysts polled by Thomson Financial expected, on average, third-quarter earnings of $1.33 a share on revenue of $8.7 billion. See full story.

FSI International (FSII) said its second-quarter loss widened to $4.29 million, or 14 cents a share, from $3.72 million, or 12 cents a share, a year earlier, as the company recorded a $3.6 million impairment charge. The Minneapolis microelectronics capital equipment manufacturer's revenue for the quarter ended Feb. 24 grew 50% to $33.4 million from $22.3 million in the year-ago period. On average, analysts expected revenue of $33.8 million, according to a poll by Thomson Financial. For the third quarter, the company expects revenue of $24 million to $27 million, compared with Wall Street's estimate of $36.4 million. FSI expects a severance charge of $450,000 in the third quarter after the company last week cut headcount by 11% and made other cutbacks.

Gateway Inc. said it isn't involved in discussions to be acquired by Taiwanese personal-computer giant Acer Inc. A Gateway spokesman said that while the No. 3 U.S. PC maker doesn't normally comment on rumors, it isn't in any discussions with Acer, which has been trying to make more inroads in the U.S. computer market.

Hancock Fabrics (HKF) said it has filed a voluntary petition for Chapter 11 relief in the U.S. Bankruptcy Court for the District of Delaware. The company said it has negotiated a consensual $105 million debtor-in-possession financing arrangement with Wachovia Bank, N.A., and is in the final stages of negotiating an additional loan of up to $17.5 million with another lender.

Lindsay Corp. (LNN) posted fiscal second-quarter earnings of $2.5 million, or 21 cents a share, on revenue of $63.7 million. The Omaha, Neb., maker of irrigation systems said demand for its equipment has developed slightly slower than expected with higher corn and grain prices and the adverse impact of wet winter weather.

McClatchy Co. reported that total revenue in February fell 5.1% compared with the year-ago pro forma figure. Pro forma revenue includes the addition of newspapers purchased in the Knight Ridder acquisition, and excludes the Minneapolis Star Tribune newspaper, the Sacramento, Calif.-based newspaper company said. Consolidated advertising revenue for the month decreased 5.2%, McClatchy said.

Media General (MEG) expects to post a first-quarter net loss of 26 cents to 30 cents a share. A survey of three analysts by Thomson First Call produced a consensus estimate of profit of 20 cents for the quarter. Market conditions were "difficult" in January and February, MEG said, with comparable total revenue for February down 2.9%. In February, publishing revenue declined 4.2%; broadcast revenues rose 27% including new stations and fell 2.7% on a comparable basis, and interactive-media revenue rose 29%.

New York Times Co. said February revenue from continuing operations fell 3.6% from the same month last year, while advertising revenue from continuing operations dropped 6%. The company said February ad revenue fell 7.5% at the New York Times Media Group, dropped 4% at the New England Media Group, and fell 8.1% at the Regional Media Group.

ProQuest (PQE) shares dropped after the NYSE said it's delisting the company's stock. "The decision was reached in view of the fact that the company is a late filer," the exchange said. "Also, the company was under review by NYSE Regulation in light of the delay in filing with the Securities and Exchange Commission its December 31, 2005 Form 10-K and certain of its 2006 Form 10-Q filings." The company will trade on the Pink Sheets, the NYSE said.

U.S. Auto Parts Network (PRTS) shares plunged after the Carson, Calif.-based company reported a fourth-quarter net loss of $20,000, or breakeven per share, compared with net income of $2.06 million, or 16 cents a share, in the year-ago period. Revenue for the fourth quarter ended Dec. 31, 2006, more than doubled, rising to $36.8 million from $15.7 million in the prior-year period. The company forecast first-quarter results in a range of a 2 cent-loss to breakeven on revenue of $39 million to $41 million, and forecast 2007 earnings of 5 cents to 17 cents on revenue of $170 million to $185 million.

ValueVision Media Inc.'s fourth-quarter net income rose 2.6% to $3.52 million, or 8 cents a share, from $3.43 million, or 8 cents a share, a year earlier, as revenue rose 3.5%. The Minneapolis direct marketer's revenue for the quarter ended Feb. 3 grew to $216.7 million from $209.4 million in the year-ago period.

Tuesday Stocks to Watch

The market is marching higher again today. It is off the high of the day after the oil service company (HAL) warns profit is lower than expected around midday. Nasdaq volume is on-track to be lower than typical days. Another unconfirmed rally indication. I would still wait for the market to tell me if I should get back in again.
Here is the movers and shakers from MarketWatch for us to keep track when the bull is back:

Advancers

3Sbio Inc. (SSRX) was initiated with a buy rating at Pacific Growth Equities.

Accredited Home Lenders (LEND) said it received a $200 million term loan from Farallon Capital Management. In exchange, the San Diego mortgage company said it would issue to Farallon 3.3 million warrants to buy shares at $10 each, and will also be given the right to buy additional shares. Accredited Home Lenders will use the proceeds of the loan for funding mortgage loans and for general working capital. See full story.

A.D.A.M. Inc. (ADAM) reported fourth-quarter earnings of $383,000, or 4 cents a share, up from a year-ago loss of $505,000, or 6 cents a share. Revenue rose 173% in the latest three months to $6.8 million from $2.5 million a year earlier. The average estimate of analysts polled by Thomson Financial was for a profit of 3 cents a share in the December period from the Atlanta-based provider of health information services.

Affiliated Computer Services' (ACS) chairman and a private-equity firm on Tuesday said they offered nearly $6 billion in cash to take the company private, the latest in a string of tech-firm buyout offers.. See full story.

Allos Therapeutics Inc. (ALTH) named Pablo Cagnoni senior vice president and chief medical officer.

Alon USA Energy (ALJ) was upgraded to above average from average at Caris & Co.

AMR Corp.'s (AMR) American Airlines forecast higher costs for its first quarter, blaming weather-related flight cancellations that cut 2.5% of the carrier's departures from the period Jan. 1 through March 18. The airline said in a federal filing its total cost per available seat mile excluding fuel, or unit costs, would rise to 8.42 cents in the quarter. AMR is expecting jet fuel price of $1.84 a gallon in the quarter and $1.98 a gallon for the year. American Airlines also said its traffic and capacity dipped more than 10% each in February from January.

Braskem SA (BAK) was upgraded to outperform from peer perform at Bear Stearns.

Carrizo Oil & Gas Inc. (CRZO) reported fourth-quarter net income of $4.3 million, or 16 cents a share, down from $13.5 million, or 54 cents, earned in the final three months of 2005. On an adjusted basis, the Houston-based company would have earned 18 cents a share in the latest quarter. Analysts were looking for earnings of 14 cents a share, according to estimates compiled by Thomson Financial. Quarterly revenue slipped to $24.2 million from the prior year's $28.1 million. Production volumes were up 34% from the 2005 fourth quarter, the company said.

Cleveland BioLabs (CBLI) received a contract from the Department of Defense to fund "development leading to the acquisition" of the company's lead radiation countermeasure compound Protectan CBLB502. The company is developing the compound in collaboration with the Armed Forces Radiobiology Research Institute.

El Paso Corp. (EP) was upgraded to outperform from neutral at Credit Suisse.

Equitable Resources (EQT) was upgraded to outperform from neutral at Credit Suisse.

Eschelon Telecom Inc. (ESCH) agreed to be acquired by private communications provider Integra Telecom for about $566 million. The deal values Eschelon shares at $30 each, compared to Monday's close at $25.59. "This transaction provides significant benefits for Eschelon's shareholders - the $30.00 share price represents a 58% premium to our price 90 days ago and it represents a 109% improvement over our price of just one year ago," said Richard Smith, Eschelon's CEO. Integra is based in Portland, Ore., while Eschelon is headquartered in Minneapolis.

Exide Technologies (XIDE) shares rose after the Alpharetta, Ga.-based company announced a new battery supply agreement with Toyota Motor Engineering & Manufacturing North America . Exide said it has begun shipping lead-acid starting batteries for the next-generation of Toyota Tundra trucks assembled at Toyota's facility in San Antonio. Financial terms of the supply contract were not disclosed. Exide currently supplies Toyota with batteries for its North American-produced Camry and Avalon cars, Tundra trucks and Sequoia sport-utility vehicles.

Gilead Sciences (GILD) was upgraded to buy from neutral at Merrill Lynch. The firm cited improved prospects for long-term growth from the company's HIV franchise. The broker also told clients it believes the 2007 and 2008 launches of its cystic fibrosis and pulmonary arterial hypertension drugs could surprise to the upside. Merrill said it expects the approval of Ambrisentan for pulmonary arterial hypertension by mid 2007 and the launch of Aztreonam for cystic fibrosis in mid 2008.

Hirsch International Corp. (HRSH) shares leapt after the Hauppage, N.Y.-based provider of commercial embroidery systems reported a fourth-quarter net profit of $35,000, or a penny a share, compared with a net loss of $291,000, or 2 cents a share, in the year-ago period. Revenue rose to $15.2 million from $12 million.

InterContinentalExchange Inc. said it was "pleased" that CBOT Holdings Inc. , the parent of the Chicago Board of Trade, has authorized talks with ICE regarding the merger offer it made last week. "We are pleased that the CBOT board has determined that ICE's proposal is or could reasonably be expected to lead to a superior proposal, which enables CBOT to begin discussions and exchange information with us," said ICE Chief Executive Jeffrey Sprecher in a statement. "As we previously said, we are confident we can complete our review and be in a position to execute a definitive agreement within a week."

Juniper Networks (JNPR) was upgraded to overweight to equal-weight at Morgan Stanley.

Lumera Corp. (LMRA) received an extension of its contract to develop advanced wideband optical modulators for the U.S. government. The company said the 12-month pact is worth $1.15 million, bringing the total contract value to about $$6.9 million.

Navistar International Corp. (NAVZ) said its total first quarter worldwide shipments were flat and its Class 6-8 commercial truck and school bus shipments in the United States and Canada grew 6%. Warrenville, Ill.-based Navistar left unchanged its forecast of industry volume for the U.S. and Canada for medium and heavy trucks and school buses of 325,000 to 347,000 units, a decline of 24% to 28% from 2006.

NovAtel Inc. (NGPS) said it doesn't expect the proposed merger of Topcon Corp. and Sokkia Co. to affect its existing business relationship with Sokkia for the "foreseeable future."

NVE Corp. (NVEC) said it's learned of the expected grant of a patent related to vertical transport magnetoresistive random access memory, or VRAM, from the U.S. Patent and Trademark Office.

Shares of Palm Inc. (PALM) rose after reports that the company may be near a buyout deal. An article on the Website Unstrung.com cited anonymous sources as saying that the company is working to finalize a deal before it reports its third fiscal quarter results after Thursday's closing bell. The stock, which was last trading up 81 cents at $18.95, had already gained nearly 30% since late January on rumors of a possible takeover.

Progress Software Corp.'s (PRGS) fiscal first-quarter earnings rose 48% to $8.74 million, or 20 cents a share, from $5.91 million, or 14 cents a share, a year earlier, as revenue grew 11%. Excluding items such as stock-based compensation, excise-tax reimbursements, amortization and the cost of an options investigation, non-GAAP net income rose 25% to $16.2 million, or 37 cents a share, from $12.9 million, or 30 cents a share, a year earlier. The Bedford, Mass., software maker said Tuesday that revenue for the quarter ended Feb. 28 climbed to $115.2 million from $103.9 million.

Rambus Inc. said the Federal Trade Commission has stayed portions of its remedy order, clarifying that the company isn't restricted from collecting royalties for the use of some of its technologies in the past. In its order, the FTC also said that Rambus isn't required to refund royalties already paid. In early February, the FTC ordered Rambus to license some of its computer memory-chip technology and set maximum royalty rates it can collect for licensing. The memory chip technologies include so-called SDRAM and DDR SDRAM.

Republic Airways Holdings Inc. said it has agreed to acquire 2 million of its common shares from WexAir LLC, its former majority shareholder. Under the agreement, the Indianapolis-based carrier will purchase the stock for $20.50 a share, for a total consideration of $41 million.

SanDisk Corp. (SNDK) was upgraded to sector outperformer from sector performer at CIBC World Markets.

SBA Communications Corp. (SBAC) plans to offer $300 million of three-year convertible senior notes, the owner and operator of wireless communications tower and infrastructure said. A portion of the net proceeds will be earmarked for the purchase up to $125 million of SBA's Class A common shares via privately negotiated transactions. In addition, the Boca Raton, Fla.-based company will use some proceeds to buy convertible note hedge transactions with affiliates of one or more of the initial purchasers of the notes. SBA also intends to pursue transactions with these parties to sell warrants for Class A common stock at an anticipated initial exercise price of $55 a share. Moreover, SBA said expects to grant the initial purchasers an option to purchase up to $50 million of additional notes if demand warrants.

Silicon Motion Technology Corp. (SIMO) said its first-quarter sales will decline less than it previously expected, partly a result of China becoming a "strong" end market for secure digital and micro secure digital controllers. The Taipei semiconductor company said Tuesday it expects first-quarter sales to decrease 3% to 7% from the fourth quarter, to a range of $33.1 million to $34.5 million. It previously expected a sequential decline of 15% to 20%. For the first quarter of 2006, Silicon Motion generated sales of $17.5 million. Silicon Motion said its revised guidance is also a result of the company's broader product offering and Samsung beginning volume production of flash memory cards with Silicon Motion's controllers.

STEC Inc. (STEC) named Mark Moshayedi to the additional post of president. Moshayedi will retain the chief technical officer and chief operating officer posts.

Taleo Corp. (TLEO) named Eric Herr chairman, succeeding company co-founder Louis Tetu. Herr previously served as chairman of the company's audit committee.

Titanium Metals (TIE) was initiated with a buy rating at Banc of America Securities. The firm set a $41 price target. (A previous version of this item incorrectly stated Banc of America initiated coverage of the company with a neutral rating.)

Valspar (VAL) was upgraded to buy from neutral at Deutsche Bank.

Verso Technologies (VRSO) shares rallied after the company forecast first-quarter revenue of at least $12 million, and second-quarter revenue of $14 million to $15 million. The company also sees full-year 2007 revenue of between $60 million and $70 million, and positive EBITDA, excluding non-cash items and acquisition related costs and expenses.

Decliners

3D Systems Corp. expects to record fourth-quarter revenue of $42 million to $44 million, but said its complete results will be delayed past Friday's filing deadline. The Rock Hills, S.C., three-dimensional modeling, prototyping and manufacturing company said it was delayed in completing fourth-quarter results while it worked on restating third-quarter results, filed Feb. 2. The company expects fourth-quarter gross profit of $16 million to $17 million and operating expenses of $19 million to $21 million.

Accuray Inc. (ARAY) was initiated with a buy rating at Jefferies & Co. The firm set a price target at $29.

Atherogenics Inc. (AGIX) shares continued to stumble Tuesday. The company's stock fell more than 60% Monday after Atherogenics said a Phase III clinical trial for its AGI-1067 candidate had failed to show it was significantly effective in treating acute coronary syndrome, a form of heart disease.

Blockbuster Inc. (BBI) Chairman John Antioco will step down from the company by the end of 2007, and he has settled a dispute with billionaire investor Carl Icahn and the company's board of directors over his 2006 bonus.. See full story.

Boardwalk Pipeline Partners LP said it has priced a public offering of 7.5 million common units representing limited partner interests. Boardwalk said it plans to use the net proceeds of the offering to fund a portion of the cost of its expansion projects and for general partnership purposes.

Camtek Ltd. (CAMT) shares slumped after the Israel-based maker of optical inspection systems reported that it swung to a fourth-quarter net loss of $2.22 million, or 7 cents a share, from a net profit of $2.06 million, or 7 cents a share, in the year-ago period. Revenue climbed to $21 million from $19.4 million. Camtek forecast first-quarter revenue of $16 million to $18 million and said it expects increased demand in the second quarter.

Delta Air Lines (DALRQ) said it will give its 39,000 non-contract employees $350 million in stock and $130 million in cash after it emerges from bankruptcy, which is planned in May. They'll also get pay increases beginning this summer, incentive performance awards and profit sharing, and a new defined contribution retirement benefit, the Atlanta airline said. Equity awards to Delta's 1,200 management staff will represent about 2.4% of Delta's stock value, or $240 million. CEO Gerald Grinstein won't be part of the executive pay plan, the airline added.

Halliburton Co. (HAL) shares slumped after the company said it expects first-quarter earnings to be below analysts' consensus estimates. Halliburton forecast earnings of 49 cents to 54 cents a share. Analysts polled by Thomson Financial are, on average, expecting a per-share profit of 59 cents. The company said the production optimization and fluid systems divisions of its energy services group have experienced reduced activity in North America.

Hancock Fabrics (HKF) said it plans to close 104 stores, representing about $75 million in annualized sales, and is exploring strategic alternatives to maximize shareholder value. The closures are in addition to the Feb. 8 announcement of the shuttering of 30 stores, the Baldwyn, Miss.-based company said. Hancock said it expects to post charges related to the closures, but cannot estimate the amount of the losses at this time. Additionally, the company said it has received a notice of default from its bank group due to the previously reported delay in filing its quarterly financial statements for 2006, and due to its inability to comply with a financial covenant in the bank credit facility that requires it to have at least $25 million of excess availability.

Intertape Polymer Group, Inc. (ITP), the Montreal-based maker of plastic- and paper-based-packaging products and systems for industry and retail, said it swung to a fourth-quarter net loss of $15.2 million, or 37 cents a share, compared to a net profit of $9.7 million, or 24 cents a share, a year earlier. Excluding a one-time tax expense of $4.8 million, the adjusted loss came in at $8.5 million, or 21 cents a share, compared to an adjusted profit of $9.2 million, or 22 cents a share, in the year-ago period. Sales slipped 13% to $187.4 million. The company said first-quarter sales volume levels of its tapes and film products are expected to be similar to those of the third and fourth quarters of 2006. In the first quarter, the company said it sees plant utilization more closely aligned with sales demand resulting in better absorption of fixed costs in this period.

Martin Midstream Partners (MMLP) was downgraded to sector perform from outperform at RBC Capital Markets.

Medimmune (MEDI) was downgraded to peer perform from outperform at Bear Stearns.

National CineMedia Inc. swung to a fiscal fourth-quarter profit of $700,000 from a year-ago loss of $3 million on higher revenue. Pro forma earnings were $6.9 million, or 16 cents a share. Revenue for the quarter ended Dec. 28 rose to $74.1 million from $44.6 million. The stock was also initiated with a neutral rating by Merrill Lynch.

Omnova Solutions Inc.'s fiscal first-quarter loss widened to $5.1 million, or 12 cents a share, from $4.3 million, or 10 cents a share, a year earlier, as revenue fell 2.9%. The Fairlawn, Ohio, building materials manufacturer's revenue for the quarter ended Feb. 28 dropped to $164.8 million from $169.8 million in the year-ago period.

Oneok (OKE) was downgraded to neutral from outperform at Credit Suisse.

Pioneer Cos. (PXD) shares sank after the Houston-based chemical company said it plans to offer $100 million of convertible senior subordinated notes due 2027 to institutional buyers. As part of the offering, Pioneer expects to grant the initial buyer an option to purchase up to an additional $20 million of notes. Pioneer plans to use the proceeds to redeem the $75 million outstanding balance of its 10% senior secured notes due 2008, and also to help finance capital costs for the expansion of its St. Gabriel, La., plant.

ProLogis plans to offer a $1 billion aggregate principal amount of senior notes due 2037. The Denver distribution-facilities company said an additional $150 million aggregate principal amount of notes may be issued.

Public Storage Inc. (PSA) was downgraded to equal-weight from overweight at Morgan Stanley.

Saifun Semiconductors Ltd. (SFUN) was downgraded to sector performer from sector outperformer at CIBC World Markets.

Superior Industries International Inc. (SUP) reported a fourth-quarter loss of $4.8 million, or 18 cents a share, narrower than a year-ago loss of $19.9 million, or 75 cents a share. On a continuing operations basis, the company lost $4.4 million, or 17 cents a share, in the latest quarter. The Van Nuys, Calif., maker of aluminum wheels recorded start-up costs of $3.3 million and restructuring expenses of $964,000 in the latest quarter. Revenue rose 3% in the latest three months to $212.2 million from $205.9 million in the same period a year earlier. The average estimate of analysts polled by Thomson Financial was for a loss of 4 cents a share in the December period.

Systemax reported that fourth-quarter net earnings more than doubled, rising to $8.03 million, or 22 cents a share, from $3.41 million, or 9 cents a share, in the year-ago period. Revenue at the Port Washington, N.Y.-based seller of computers and accessories rose 11% to $648 million from $583 million, while gross margin slipped to 12.9% from 14.7% in the fourth quarter of 2005.

Take-Two Interactive (TTWO) was downgraded to sell from hold at Kaufman Bros., citing valuation.

Tecumseh Products Co. plans to delay reporting its 2006 fourth quarter and annual results because it needs additional time to close its books. The company, which makes components for industrial equipment, previously said it was pursuing a remedy available to it under Brazilian law that would "require its lenders for its Brazilian engine manufacturing facility to abide by the terms of a proposed restructuring agreement."

ViroPharma (VPHM) shares fell after the Exton, Pa.-based drug development company said it plans to offer $200 million of convertible senior notes due March 2017. The company expects to grant the underwriters an option to purchase up to an additional $30 million of notes to cover over-allotments. ViroPharma plans to use the proceeds for general corporate purposes.

Monday Stocks to Watch

The market is trading higher but with subdue volume. I tried a few buying this morning, and yet they all failed to advance after I bought them. Perhaps I paid too high for them. Many of the issues are higher in the morning than in the afternoon. (JSDA) is a good case in point. I need to learn from my past experience for the confirmation before start buying again.

Look for earnings from the following volatile companies after close tonight:
(NCMI), (SYX)

Here are movers and shakers from MarketWatch:

Advancers

Shares in ABN Amro (ABN) jumped Monday as speculation mounted that it could be about to reveal merger talks with the U.K.'s Barclays. See full story.

Acadia Pharmaceuticals (ACAD) shares soared after the San Diego-based company reported positive top-line results from its Phase II schizophrenia co-therapy trial with ACP-103. The trial evaluated ACP-103 when used together with either risperidone or haloperidol. Acadia said the co-therapy arms with ACP-103 demonstrated "statistically significant antipsychotic efficacy" as measured by the reduction in the positive and negative syndrome scale, the primary endpoint of the trial.

BEA Systems (BEAS) was upgraded to buy from neutral At UBS.

DaimlerChrysler (DCX) was upgraded to neutral from sell at Goldman Sachs, which cited management's plans to consider all options for the future of the Chrysler unit. "We believe the risk reward balance for a seller of DaimlerChrysler shares has become unsustainable," Goldman Sachs said. Potential upside could come from speculative news flow, an unexpected deal or an aggressive 2009 action plan from the group, Goldman Sachs added.

EGL Inc. (EAGL) agreed to be taken private in a $1.7 billion deal by an investor group led by the company's chief executive and largest shareholder. James Crane, also EGL's chairman, together with investment funds affiliated with Centerbridge Partners, L.P. and Woodbridge Co., will pay EGL's shareholders $38 in cash for each share of common stock they hold in the logistics and freight forwarding company. See full story.

Force Protection Inc. (FRPT) shares jumped after the Ladson, S.C.-based maker of protective vehicles reported fourth-quarter net earnings of $17 million, or 39 cents a share, on revenue of $62.9 million.

IntercontinentalExchange (ICE) said it's delivered its proposed merger agreement to CBOT Holdings' (BOT) board. "We believe the ICE offer clearly constitutes a superior proposal under the terms of CBOT's agreement with CME," said Jeffrey Sprecher, chairman and CEO of IntercontinentalExchange. The roughly $10 billion offer, which was first announced last week, rivals a definitive agreement CBOT already has in place with the Chicago Mercantile Exchange (CME). The deal with CME values CBOT at roughly $8 billion. Calling its bid a "superior proposal," IntercontinentalExchange said it plans to hold a meeting in Chicago on March 21 to discuss the offer with CBOT members. It also said it believes a definitive agreement between the parties could be completely quickly. Sprecher stated. "We are confident that, given our knowledge of CBOT's business and with its cooperation, we can complete our review and be in a position to execute a definitive transaction agreement within one week."

InfraSource Services Inc. (IFS) shares jumped after Quanta Services (PWR) agreed to buy InfraSource in an all-stock deal valued at $1.26 billion. Under the terms of the deal InfraSource shareholders will receive 1.223 shares of Quanta stock for each share of InfraSource, representing a value of $30.13, or a 17.4% premium over the closing price on Friday. Quanta said the deal is expected to enhance its earnings in 2008, adding it expects to achieve cost and operational synergies through the integration of project and asset management functions as well as procurement and administrative cost savings.

ServiceMaster (SVM) was in focus following news that an investment group led by Clayton Dubilier & Rice, the private-equity firm, has agreed to purchase ServiceMaster Co. at a price of $15.625 a share, implying an acquisition premium of 16% over Friday's closing price of $13.47, the provider of various type of residential and commercial services said. The Memphis-based company's board decided to explore strategic options last November. The total buyout price comes to $5.5 billion, including assumed debt. Shareholders will vote on the proposed deal at a special meeting that the company expects to hold during the second quarter.

Siga Technologies (SIGA) shares jumped after the company said its smallpox drug candidate was used to treat a toddler who inadvertently contracted eczema vaccinatum, and that the patient is now improving.

Spartan Stores Inc. (SPTN) said it has agreed to acquire 20 retail grocery stores, two fuel centers and three convenience stores, from G&R Felpausch Co. Financial terms weren't disclosed. The transaction is subject to certain conditions including satisfactory conclusion of the company's due diligence process, Spartan said. Upon completion, the transaction will increase annual retail segment sales by about $200 million, the Grand Rapids, Mich.-based grocery distributor said. Annual consolidated sales will increase by about $100 million as Felpausch is an existing distribution customer, the company said. Spartan said it expects to realize gains from the deal, but they will be offset in the first year by transition expenditures of about $5 million to $6 million.

Take-Two Interactive Software Inc. (TTWO) said it's postponed its annual meeting until March 29 in order to provide additional time to evaluate the proposed actions of a shareholder group as well as the company's strategic options, including a possible sale. The meeting was originally scheduled for March 23. The company said the record date for the annual meeting remains Feb. 26. In addition, the board set a record date of March 29 for determining shareholders entitled to act by written consent. Earlier in March, the shareholder group, which includes Oppenheimer Funds, D.E. Shaw & Co. and others representing a 45% stake in the company, indicated it's looking to nominate directors to Take-Two's board with an eye towards a management shake-up.

Triad Hospitals Inc. (TRI) shares rose after the company agreed to be acquired by Community Health Systems Inc. (CYH) for $54 a share in cash. See full story.

Decliners

Accredited Home Lenders (LEND) is in talks with a third party to provide financing and boost liquidity, the subprime-mortgage lender said Monday. See full story.

Amrep Corp. (AXR) reported fiscal third-quarter earnings of $6.9 million, or $1.04 a share, up from a year-ago profit of $5.2 million, or 79 cents a share.

AtheroGenics (AGIX) plummeted after it revealed the Arise phase III trial of AGI-1067 did not meet its primary endpoint. The primary endpoint was a statistically significant relative risk reduction in a composite cardiovascular endpoint of CV death, resuscitated cardiac arrest, non-fatal myocardial infarction, non-fatal stroke, use of coronary revascularisation and for angina pectoris. AtheroGenics and AstraZeneca, its partner in the project, now plan to work together to fully analyze the full data set for AGI-1067.

Cleveland BioLabs (CBLI) shares slumped after the company said it has completed a $30 million private stock sale. The company said the funds from the placement will allow it to respond to a request for proposal recently issued by the Department of Defense for the advanced development of medical radiation countermeasures to treat gastrointestinal effects of acute radiation syndrome. The funds will also be used for the advancement of Cleveland BioLabs' pipeline of compounds, the company said.

Diodes Inc. (DIOD) said that, as a result of greater than anticipated pressure on selling prices, it has narrowed its guidance range for first quarter 2007 revenue to $91 million to $93 million. It also said that it expects its gross margin to be around 100 basis points lower than the 33.4% recorded in the fourth quarter of 2006.

Fieldstone Investment Corp. (FICC) shares slid after the company agreed to reduce the per share purchase price for its acquisition by Credit-Based Asset Servicing and Securitization LLC, or C-BASS, to $4 per share from a planned consideration of $5.53 a share. The company cited the "recent severe deterioration of the market for subprime loans," which has reduced its liquidity. In exchange for the lower per share price, C-BASS will provide Fieldstone with additional liquidity. See full story.

Hercules Offshore (HERO) agreed to acquire Todco (THE) for $2.3 billion in cash and stock. See full story.

Medifast (MED) forecast earnings of 45 to 46 cents a share in fiscal 2007 on revenue of between $85 million and $88 million. The current average estimate of analysts polled by Thomson Financial is for a profit of 50 cents a share for the year.

Nortel Networks said it narrowed its fourth-quarter loss significantly from a year earlier, when it booked a huge one-time legal charge, as sales rose almost 10%. See full story.

RadioShack (RSH) was downgraded to underweight from equal-weight at Morgan Stanley.

TransMontaigne Partners LP (TLP) reported fourth-quarter net earnings of $1.91 million, or 6 cents per basic limited partner unit, down 49% from $3.77 million, or 48 cents per basic limited partner unit, in the year-ago period, as operating costs and expenses rose. The Denver-based petroleum products transport company said revenue in the quarter ended Dec. 31 rose to $19.3 million from $11.9 million last year, while operating costs and expenses increased to $9.5 million from $4.1 million.