WASHINGTON (MarketWatch) — Among the stocks that could see active trade in Friday’s session are Deckers Outdoor Corp., Salesforce.com Inc. and Crocs Inc.
The pace of earnings reports eases off Friday. J.C. Penney Co. , Interpublic Group of Cos. /zigman2/quotes/203101491/composite IPG -1.34% , E.W. Scripps Co. /zigman2/quotes/203381768/composite SSP -2.82% , Gray Television Inc. /zigman2/quotes/207278346/composite GTN -1.10% , Alpha Natural Resources Inc. , Kaydon Corp. , Interline Brands Inc. , Mobile Mini Inc. , American Water Works Co. /zigman2/quotes/205092314/composite AWK +0.39% , FTI Consulting Inc. /zigman2/quotes/210037752/composite FCN +1.15% , Endo Pharmaceuticals Holdings Inc. /zigman2/quotes/207745412/composite ENDP +1.70% , Warner Chilcott PLC , Cyberonics Inc. , United States Cellular Corp. /zigman2/quotes/203420412/composite USM +1.12% and Telephone & Data Systems Inc. /zigman2/quotes/200740609/composite TDS +1.38% are the major companies scheduled to issue results.
Citing a spike in the cost of sheepskin, Deckers Outdoor /zigman2/quotes/203810494/composite DECK -1.63% cautioned investors on its earnings prospects for 2012. The footwear maker specified that ongoing cost increases would undercut full-year profit to the tune of about $1.40 a share. Price pressures might ease in 2013, the Goleta, Calif.-based company said as it reported fourth-quarter and 2011 financial results late Thursday. Deckers also said its board approved the repurchase up to $100 million in common stock, via open-market or private transactions.
Along with reporting fourth-quarter financial results, Newmont Mining Corp. /zigman2/quotes/205356474/composite NEM +1.21% said it expects flat to lower gold production for 2012 as well as lower copper output — specifically, about 5 million to 5.2 million ounces and 150 million to 170 million pounds, respectively. The Denver-based company’s reported attributable production for 2011 was 5.2 million ounces of gold and 206 million pounds of copper. The outlook reflects lower expected output generated from Newmont’s Batu Hijau in Indonesia. Costs applicable to sales are expected to rise from 2011, to between $625 and $675 per ounce of gold and to $1.80 and $2.20 per pound of copper, up from $591 per ounce and $1.26 per pound, the company said. Separately, Newmont said it increased attributable gold reserves by 5.3 million ounces, net of depletion, to 98.8 million ounces in 2011, while copper reserves rose 3.2% from 2010, to 9.7 billion pounds. Both figures for 2011 reserves are company records, Newmont said.
A Food and Drug Administration advisory committee voted to recommend approval of Northera, a drug candidate developed by Chelsea Therapeutics International Ltd. , as a treatment of symptomatic neurogenic orthostatic hypotension for people suffering from Parkinson’s disease and similar maladies, the company said. The move puts a new drug application for Northera on track for review by the FDA on March 28, the Charlotte, N.C.-based company said. The agency isn’t bound by the recommendations of its advisory panels. Northera previously was designated by the FDA for orphan-drug status.
WebMD Health Corp. said it would conduct a modified Dutch Auction tender offer for $150 million in common stock. Terms as set by the New York-based company call for WebMD stockholders to tender some or all of their shares at a price within a range of $24.50 to $26 each; they ended Thursday’s trading at $25.27. Based on the number of shares tendered and the prices specified, WebMD will determine the lowest per-share price within the range that would enable it to buy the $150 million in stock. At the minimum $24.50 price, WebMD said it would buy back a maximum of slightly more than 6.1 million shares, or about 11% of common stock currently outstanding. The company also reported fourth-quarter and full-year results following the close of trading Thursday.
Proto Labs Inc. /zigman2/quotes/208337339/composite PRLB +1.99% priced its initial public offering of 4.3 million common shares at $16 each and will begin trading Friday on the New York Stock Exchange, the Maple Plain, Minn.-based company said late Thursday. All of the stock up for sale in the IPO is offered by Proto Labs, which has granted underwriters a 30-day option to buy up to 645,000 additional shares if investor demand warrants.
Thursday earnings recap
Salesforce.com /zigman2/quotes/200515854/composite CRM +0.33% issued an upbeat first-quarter revenue forecast as the company reported results late Thursday for the fourth quarter ended Jan. 31. The San Francisco-based company posted a net loss of $4.1 million, or 3 cents a share, a reversal from the prior year’s profit of $10.9 million, or 8 cents a share. Quarterly revenue reached $631.9 million from the prior year’s $456.9 million in revenue. On an adjusted basis, the software company would have earned 43 cents a share for the most recent quarter. The consensus of analysts polled by FactSet Research had been for Salesforce.com to generate a profit of 40 cents a share on revenue of $624 million. For the first quarter of fiscal 2013, Salesforce.com pegged revenue in a range of $673 million to $678 million, ahead of the $663.6 million average forecast of analysts. In addition, quarterly profit on an adjusted basis is forecast at 33 cents to 34 cents a share; the consensus stood at 36 cents a share. Salesforce.com also raised its full-year revenue target to a range of $2.92 billion to $2.95 billion and set an initial range for adjusted profit of $1.58 to $1.62 a share.
Crocs /zigman2/quotes/201458716/composite CROX -0.88% left investors disappointed with its first-quarter outlook, after reporting fourth-quarter net income of $5.6 million, or 6 cents a share, up from $4.7 million, or 5 cents, earned in the final three months of 2010. Quarterly revenue generated by the Niwot, Colo.-based maker of footwear rose to $203.7 million, up from the prior year’s $179.2 million but less than analysts’ consensus of $205.3 million. For the first quarter, Crocs projected earnings of 24 cents to 26 cents a share on revenue of between $263 million and $268 million. These would both be short of the FactSet-derived average forecasts: 30 cents a share and $268.8 million, respectively.
OmniVision Technologies Inc. essentially broke even for the third quarter ended Jan. 31, netting $111,000, or nil per share, down from $44.7 million, or 75 cents a share, in the year-earlier third quarter. Quarterly revenue of $185.2 million, while down from the prior year’s 265.7 million, exceeded the high end of management’s expectations, the Santa Clara, Calif.-based company said. On an adjusted basis, OmniVision would have had a profit of $7.4 million, or 13 cents a share, for the latest quarter. And for the fourth quarter, the company forecast a net profit of breakeven to 13 cents a share as well as adjusted earnings of 15 cents to 18 cents a share, on projected revenue in a range of $195 million to $215 million.