WASHINGTON (MarketWatch) — Among the stocks that could see active trade in Tuesday’s session are Ista Pharmaceuticals Inc., Dollar General Corp. and Landec Corp.
Companies on deck to report results include Walgreen Co. , Lennar Corp. /zigman2/quotes/207749640/composite LEN.B -0.91% /zigman2/quotes/202536373/composite LEN -0.09% , U.S. Homes Systems Inc. , McCormick & Co. /zigman2/quotes/206739653/composite MKC +1.15% , PVH Corp. /zigman2/quotes/208313660/composite PVH -2.76% , Oxford Industries Inc. /zigman2/quotes/208631249/composite OXM -1.91% Christopher & Banks Corp. , Charming Shoppes Inc. /zigman2/quotes/202304465/composite CHRS -3.54% , Neogen Corp. /zigman2/quotes/204188940/composite NEOG -3.53% , Robbins & Myers Inc. and Willdan Group Inc. /zigman2/quotes/204910516/composite WLDN -2.04% , among others.
Standard & Poor’s said Vasco Data Security International Inc. will take the place of O’Charley’s Inc. in the S&P SmallCap 600 index after the close of trading on April 2, in line with impending completion of an acquisition of O’Charley’s. In addition, S&P said Aon Corp. /zigman2/quotes/203448336/composite AON -1.98% will remain in the S&P 500 index following its reorganization into Aon PLC, with each Aon Corp. common share to be exchanged for a Class A ordinary share of Aon PLC before the opening of trading on April 2.
Also late Monday, Ista Pharmaceuticals agreed to be acquired by privately held Bausch & Lomb for about $500 million in cash, the companies said. The buyout price of $9.10 a share works out to a premium of 8.6% over Irvine, Calif.-based Ista’s closing price in Monday’s regular trading session. The deal’s expected to close in the second quarter.
In a deal bringing together two California-based companies doing business in optical technology for telecommunications and data communications, Oclaro Inc. agreed to acquire Opnext Inc. via a stock swap. Terms call for Opnext stockholders to receive 0.42 of a share of Oclaro common stock for each common share of Opnext they own. The deal carries a value of nearly $43 million, based on Monday’s closing prices. Pending shareholder votes and U.S. regulatory approvals, the transaction’s expected to be completed within three to six months. Upon completion, Opnext stockholders will own about 42% of the combined company.
Dollar General /zigman2/quotes/200691429/composite DG +1.57% said it would sell 25 million common shares in a secondary public offering. Certain stockholders are putting the shares up for sale, and Dollar General won’t receive any proceeds. Underwriters will have the option to buy up to nearly 3.8 million additional shares from the stockholders, the Goodlettsville, Tenn.-based deep discounter said.
The board of Crown Crafts Inc. /zigman2/quotes/202621768/composite CRWS +0.90% approved a doubling in the Gonzales, La.-based company’s quarterly cash dividend on Series A common stock. The new dividend of 8 cents a share will be paid July 6 to stockholders of record as of June 15, Crown Crafts said.
Monday earnings recap
Landec /zigman2/quotes/202795542/composite LNDC +1.35% reported net income of $4.8 million, or 18 cents a share, for the third quarter ended Feb. 26, up from $2.3 million, or 9 cents, earned during the same period in fiscal 2011. Quarterly revenue generated by Menlo Park, Calif.-based packaging company reached $80.1 million from the prior year’s $73.5 million. Earnings per share and revenue both exceeded analysts’ consensus forecasts as compiled by Thomson Reuters. In addition, Landec’s management now foresees full-year revenue growth of 9% to 10%, up from an original projection of 5% or better, and now pegs earnings growth on an adjusted basis at about 40% as opposed to projected growth of 30% to 40% previously.
Results reported by Apollo Group Inc. showed the for-profit education company swinging to a second-quarter net profit of $63.9 million, or 51 cents a share, from a year-earlier loss of $64 million, or 45 cents a share. On an adjusted basis, the Phoenix-based company said it would have posted earnings of 58 cents a share for the three months ended Feb. 29. Quarterly revenue fell to $969.6 million from the prior year’s $1.05 billion. Analysts, on average, had forecast earnings of 39 cents a share on revenue of $933 million, according to a Thomson Reuters survey. Apollo Group also said it expects to generate consolidated net revenue of $4.1 billion to $4.3 billion for all of fiscal 2012, with operating income pegged at $625 million to $725 million, excluding the impact of special items. Further, the company said it was notified last week that an informal Securities and Exchange Commission inquiry initiated in October 2009 has been completed and that SEC staff doesn’t intend to recommend any enforcement action by the commission.