WASHINGTON (MarketWatch) — Among the stocks that could see active trade in Friday’s session are Allscripts Healthcare Solutions Inc., Deckers Outdoor Corp. and Expedia Inc.
The pace of a busy earnings week slows, but there are more than a few companies on deck including a trio of blue chips — Procter & Gamble Co. /zigman2/quotes/202894679/composite PG +1.08% , Merck & Co. /zigman2/quotes/209956077/composite MRK -0.02% and Chevron Corp. /zigman2/quotes/205871374/composite CVX +0.95% — that merit investor scrutiny. Friday’s roster of notables includes Ford Motor Co. /zigman2/quotes/208911460/composite F -1.63% , International Paper Co. /zigman2/quotes/200533549/composite IP -0.24% , Weyerhaeuser Co. /zigman2/quotes/200438029/composite WY +0.95% , VF Corp. /zigman2/quotes/206706147/composite VFC -4.50% , Pilgrim’s Pride Corp. /zigman2/quotes/204152423/composite PPC 0.00% , Covidien PLC and Flir Systems Inc. , among others.
Allscripts /zigman2/quotes/208834131/composite MDRX -0.93% said Philip Pead was terminated as chairman of the electronic health-care records company on Wednesday, but it didn’t specify a reason for the move. His departure ensued as the board “engaged in extensive deliberations” about the company’s leadership, according to Chicago-based Allscripts. Three other directors resigned, and Bill Davis will be leaving as chief financial officer in May. The moves came to light as Allscripts reported first-quarter financial results.
Starbucks Corp. /zigman2/quotes/207508890/composite SBUX +0.10% is growing more aggressive in its global expansion plans. As the Seattle-based retailer reported results for the second quarter ended March 1 late Thursday, management said store openings during the fiscal year will total 1,000, up from the 800 previously planned. “With coffee cost pressures easing in the second half of the year and momentum building from investments in our growth initiatives, we are well positioned to deliver on our aggressive targets,” CFO Troy Alstead said in a statement. Starbucks also tweaked higher its full-year forecast to reflect expectations for a profit a range of $1.81 to $1.84 a share, as opposed to $1.78 to $1.82 a share previously.
Along with reporting results for the first quarter, Deckers Outdoor /zigman2/quotes/203810494/composite DECK -0.17% revised lower its 2012 outlook. The Goleta, Calif.-based retailer, citing in part weaker projections for its international wholesale business, now sees earnings per share dropping about 9% to 10% from 2011, down from a prior forecast that had called for profit to be about flat for the year. In addition, Deckers said it anticipates generating 2012 sales growth of about 14%, down from about 15% previously.
Also late Thursday, Skyworks Solutions Inc. /zigman2/quotes/201417573/composite SWKS -1.11% projected sequential growth in revenue and profit as the Woburn, Mass.-based semiconductor producer reported results for the second quarter ended March 30. The company pointed to better business in high-performance analog applications as well as growth in the high-end wireless market. Accordingly, Skyworks forecast for the third quarter of fiscal 2012 an adjusted profit of 44 cents a share as well as revenue of $383 million. These compare with adjusted earnings of 42 cents a share and revenue of $364.7 million for the second quarter, both of which exceeded management’s expectations.
Tessco Technologies Inc. /zigman2/quotes/201101603/composite TESS +2.63% warned that it would lose a portion of its business with the Hunt Valley, Md.-based wireless products company’s largest customer. What Tessco called a “low-margin third-party logistics relationship” with the customer, which it didn’t identify by name, would be phased out completely during the third quarter of fiscal 2013. In light of this as well as prospects for ongoing revenue and profit growth in its core customer segments, Tessco said it anticipates showing a profit of $1.80 to $2.15 a share for the fiscal year ending March 31, 2013. This would compare to $2.03 a share in profit that the company expects to post for fiscal 2012, final results for which will be reported May 2. Also Thursday, Tessco said its board approved a 20% increase in the company’s quarterly dividend on common stock, to 18 cents a share. It’s payable May 23 to stockholders of record on May 9.
Along with reporting results for the third quarter ended March 31, Fusion-io Inc. forecast fourth-quarter revenue would be “essentially flat sequentially,” putting the Salt Lake City-based technology company’s projected full-year revenue growth at about 75%. Fusion-io also estimated an adjusted operating margin of 3% to 5% for the current quarter, narrower than the 7.6% seen in the third quarter.
Along with reporting first-quarter results, Fortune Brands Home & Security Inc. /zigman2/quotes/202019304/composite FBHS +0.23% raised its 2012 financial outlook. The Deerfield, Ill.-based company pegged full-year profit, excluding gains and charges, to be in a range of 77 cents to 87 cents a share, which would be up from a comparable profit of 60 cents a share for 2011. The updated projection is based on management’s forecast that growth in net sales will be generated at a “high-single-digit” percentage rate.
The board of Seagate Technology PLC /zigman2/quotes/201824240/composite STX +6.07% approved an additional stock-buyback authorization of $2.5 billion, the Cupertino, Calif.-based company said. This brings Seagate’s total authorization for repurchases to about $3.5 billion. The manufacturer of hard disk drives said it would fund repurchases through a combination of cash on hand and future cash flow from operations as well as “potential alternative sources.”
Thursday earnings recap
Expedia /zigman2/quotes/202291990/composite EXPE -0.66% reported a first-quarter net loss of $3.3 million, or 2 cents a share, a reversal from the profit of $52 million, or 37 cents a share, that the Bellevue, Wash.-based online travel company earned in the same period last year. Quarterly revenue reached $816.5 million from the prior year’s $727.8 million. On an adjusted basis, earnings for the latest quarter would have been $36.9 million, or 26 cents a share. Analysts surveyed by FactSet Research had forecast Expedia would earn 15 cents a share on revenue of $792.3 million, on average.
Amazon.com Inc. /zigman2/quotes/210331248/composite AMZN -2.90% reported first-quarter earnings of $130 million, or 28 cents a share, down from $201 million, or 44 cents, earned in the year-earlier period, as the Seattle-based company issued a typically conservative quarterly forecast late Thursday. Revenue for the latest quarter reached $13.18 billion. As derived by FactSet, the consensus forecast of analysts had been for Amazon to generate a quarterly profit of 6 cents a share and revenue of $12.9 billion. Read more on Amazon.