Among the stocks that could see active trade in Fridayday��s session are LinkedIn Corp.,True Religion Apparel Inc. and LeapFrog Enterprises Inc.
The pace of quarterly earnings releases eases at week��s end: PPL Corp. PPL , Alliant Energy Corp. LNT , Arch Coal Inc. ACI , LyondellBasell NV LYB , Flir Systems Inc. FLIR , Snyder��s-Lance Inc. LNCE ?and TreeHouse Foods Inc. THS ?are the notables for Friday.
Late Thursday, Standard & Poor��s announced a series of pending changes to be made in the composition of the S&P MidCap 400 and S&P SmallCap 600 indexes. Akorn Inc. AKRX ?will join the S&P SmallCap 600 effective at the close on Feb. 13, replacing Blue Coat Systems Inc. , which is being taken private. After the close of trading on Feb. 15, ViewPoint Financial Group Inc VPFG ?will take the place of SonoSite Inc. SONO ?in the S&P SmallCap 600, since a tender offer for Sonosite is nearing completion. And finally, CBOE Holdings Inc. CBOE ! ?will replace Temple-Inland Inc. ?in the S&P MidCap 400 on a date to be determined. International Paper Co. IP ?is close to wrapping up the acquisition of Temple-Inland.
As it reported a fourth-quarter shortfall late Thursday, True Religion Apparel TRLG ?also steered Wall Street lower regarding financial targets for 2012. The Vernon, Calif.-based purveyor of upscale denim forecast full-year earnings in a range of of $1.88 to $1.95 a share. Revenue for 2012 was projected at $450 million to $460 million, up from $419.8 million for 2011. The most recent survey of analysts by Thomson Reuters yielded consensus estimates of $2.37 a share for True Religion��s 2012 earnings as well as $494 million for revenue.
Along with reporting stronger-than-forecast financial results for the fourth quarter and 2011, LeapFrog Enterprises LF ?forecast a first-quarter loss and laid out its targets for 2012. The company projected its loss for the three months through March at 26 cents to 30 cents a share, narrower than the prior year��s loss of 34 cents a share, with sales growth pegged in a range of 20% to 30%. Analysts polled by Thomson Reuters had been looking, on average, for a loss of 32 cents and sales growth of 11%. And for 2012, the Emeryville, Calif.-based maker of interactive educational toys estimated earnings of 40 cents to 45 cents a share on sales growth of 6% to 8%. This compares with analysts�� consensus view of 41 cents a share and 6%, respectively. For 2011, LeapFrog generated a net profit of $19.9 million, or 30 cents a share, up from nearly $5 million, or 8 cents, earned in 2010. Sales growth for the y! ear came to 5%.
Cincinnati Bell Inc. CBB ?said it will explore alternatives for CyrusOne, its data center business. Options may include a partial separation through a sale, initial public offering or other transaction; a full separation, depending on the value to shareholders; or making no changes and operating the data center business under its current structure. The process is expected to take six to 12 months, the company said. Customers that CyrusOne, which generated some $185 million in revenue last year, serves include 16 of the top global 100 enterprises and four of the top 10, according to Cincinnati Bell. The company also reported fourth-quarter and 2011 results late Thursday.
The board of Lear Corp. LEA ?voted to declare an 12% increase in the company��s quarterly dividend on common stock. The new dividend of 14 cents a share is payable March 21 to stockholders of record as of March 2, the Southfield, Mich.-based company said.
The board of United Parcel Service Inc. UPS ?approved an increase of nearly 10% in its quarterly dividend on Class A and Class B stock, to 57 cents a share. The dividend is payable March 7 to holders of record as of Feb. 21, the Atlanta-based company said.
Thursday earnings recap
LinkedIn LNKD ?reported a fourth-quarter profit of $6.9 million, or 6 cents a share, up from $5.3 million, or 3 cents, earned in the final three months of 2010. The Mountain View, Calif.-based company, whic! h went p ublic last May, generated quarterly revenue of $167.7 million, more than double the prior year��s $81.7 million. On an adjusted basis, profit for the latest quarter would have been 12 cents a share. Analysts, on average, had expected LinkedIn would post a profit of 7 cents a share on revenue of $160 million, according to estimates compiled by Thomson Reuters. The provider of Internet-based professional networking services also said it expects revenue in a range of $170 million to $175 million for the first quarter, bracketing analysts�� consensus view of $171 million.
Nuance Communications Inc. NUAN ?posted net income of $9.3 million, or 3 cents a share, for the first quarter ended Dec. 31, a reversal form a loss of $9,000 in the comparable period during fiscal 2011. The Burlington, Mass.-based maker of speech-recognition software generated quarterly revenue of $360.6 million, up from the prior year��s $303.8 million. On an adjusted basis, Nuance would have had a profit of 34 cents a share and $382.4 million for the latest quarter. Analysts polled by Thomson Reuters had expected the company to earn 36 cents a share on revenue of $392 million, on average.
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Stocks to watch Friday: LinkedIn, LeapFrog, Nuance
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