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Dec. 21, 2011, 6:52 a.m. EST

Stocks to watch Wednesday: C.R. Bard, Papa John’s

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By MarketWatch

WASHINGTON (MarketWatch) — Among the stocks that could see active trade in Wednesday’s session are C.R. Bard Inc., Papa John’s International Inc. and Valmont Industries Inc.

Companies scheduled to report quarterly financial results Wednesday include retailers Walgreen Co. , Bed Bath & Beyond Inc. /zigman2/quotes/209801102/composite BBBY +4.33% , Finish Line Inc.  and CarMax Inc. /zigman2/quotes/204412041/composite KMX -0.70%  as well as Luby’s Inc. /zigman2/quotes/206507565/composite LUB +2.38% , Herman Miller Inc. /zigman2/quotes/205594126/composite MLHR -0.82% , Steelcase Inc. /zigman2/quotes/204214199/composite SCS -0.48% , KB Home /zigman2/quotes/206220859/composite KBH +1.90% , Shaw Group Inc. , Actuant Corp. , Micron Technology Inc. /zigman2/quotes/205710729/composite MU -3.09%  and Tibco Software Inc. , among others.

Late Tuesday, C.R. Bard  lowered by about 25 cents a share its profit forecast for 2012, citing the impact of the company’s acquisition of Lutonix Inc., a Minneapolis company developing drug-coated balloons for the treatment of peripheral arterial disease. Terms of the buyout call for payment of about $225 million at closing, with an additional $100 million to be paid upon Food and Drug Administration approval of the angioplasty balloon. Murray Hill, N.J.-based C.R. Bard also said it expects to begin selling the Lutonix device in Europe during the second half of 2012.

Papa John’s /zigman2/quotes/207343722/composite PZZA +1.17%  raised its 2011 earnings forecast to a range of $2.15 to $2.20 a share, up from a prior projection of $2.08 to $2.15 a share. For 2012, the Louisville-based fast-food chain pegged earnings in a range of $2.33 to $2.43 a share. The 2012 forecast includes an a one-time marketing incentive contribution in the amount of 11 cents a share, which management said would be “largely offset” by a 53rd week of operations next year. On a consolidated basis, management sees revenue growth of 6% to 7% for 2012, with about two percentage points coming from the 53rd week. The company also announced an increase of $50 million in its authorization to buy back common stock, having repurchased 2 million shares for $63.6 million this year. The company has $73.2 million remaining available for repurchases under the board of directors’ most recent authorization running through 2012.

Valmont Industries /zigman2/quotes/206914223/composite VMI -0.70%  revised higher its profit forecast for 2011 and now sees earnings as “modestly” exceeding the high end of a range of $5.70 to $5.90 it projected in October. The diversified manufacturer cited “better-than-expected activity” recently in its irrigation, utility support structures and coatings businesses. The forecast excludes gains pegged at $2.66 a share that the company will record in the fourth quarter, for a variety of one-time adjustments. Omaha-based Valmont will report fourth-quarter results on Feb. 14.

Ariad Pharmaceuticals Inc.  closed on the Cambridge, Mass.-based company’s public offering of more than 24.7 million shares of common stock, yielding net proceeds of about $243 million. Underwriters sold more than 3.2 million shares under their greenshoe, the company said.

Funds associated with Clayton Dubilier & Rice will sell about 14 million common shares of Sealed Air Corp. /zigman2/quotes/208564360/composite SEE +0.57%  via a public offering, the Elmwood Park, N.J.-based company said. Barclays Capital will act as sole underwriter. Sealed Air won’t receive any proceeds from the offering.

Tuesday earnings recap

Oracle Corp. /zigman2/quotes/202180826/composite ORCL +0.88%  reported earnings of 54 cents a share on an adjusted basis for the second quarter ended Nov. 30, up from 51 cents earned in the same period during the software company’s fiscal 2011. Quarterly revenue generated by Redwood Shores, Calif.-based Oracle reached $8.79 billion from the prior year’s $8.58 billion a year ago. Analysts’ consensus estimates, as compiled by FactSet Research, had been for adjusted earnings of 57 cents a share and revenue of $9.23 billion. Net profit came to $2.19 billion, or 43 cents a share, up from $1.87 billion, or 37 cents, earned in the year-ago second quarter. And on a conference call, Oracle management forecast modest improvement for profit and revenue in the third quarter. In addition, Oracle said its board approved another $5 billion for buying back common stock.

Nike Inc. /zigman2/quotes/203439053/composite NKE -0.38%  reported earnings for the second quarter ended Nov. 30 rose 3% to $469 million, or $1 a share, as sales jumped 18% to $5.73 billion. Analysts’ quarterly consensus stood at 97 cents a share and $5.63 billion, respectively. The Beaverton, Ore.-based company also said worldwide futures orders, tracking Nike brand athletic footwear and apparel scheduled for delivery from December through next April, totaled $8.9 billion, up 13% from the same period last year.

Jabil Circuit Inc. /zigman2/quotes/203847835/composite JBL -1.25%  reported a profit from core operations of $112.9 million, or 65 cents a share, for the first quarter ended Nov. 30, up from $106.7 million, or 61 cents, earned in the same period a year earlier. Quarterly sales rose 6% to $4.33 billion. Analysts polled by FactSet had been looking for a profit, on average, of 65 cents a share on sales of $4.41 billion. In addition, the St. Petersburg, Fla.-based company forecast core earnings in a range of 52 cents to 62 cents for the second quarter of fiscal 2012, with revenue pegged at $4 billion to $4.2 billion.

/zigman2/quotes/209801102/composite
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/zigman2/quotes/203847835/composite
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