Adobe (ADBE) saw some weakness in Tuesday’s after hours session despite reporting second quarter revenue growth of 34% to $943 million. The company’s adjusted earnings of 44 cents per share exceeded estimates by 2 cents. For the third quarter, the company estimates adjusted earnings of 46-50 cents per share compared to the 48 cents per share consensus estimate. Revenues are estimated at $950 million to $1 billion, while the Street estimates revenues of $958.7 million.Apogee (APOG) could be in focus after it reported first quarter revenues of $143 million, down 21% year-over-year. The company reported a loss from continuing operations of 13 cents per share compared to a year-ago profit of 27 cents per share. Analysts expected a loss of 5 cents per share on revenues of $141.92 million. The company also said it expects to report a loss for the year on a 10%-15%drop in worldwide revenues. The consensus estimates call for a profit of 6 cents per share on revenues of $595.53 million, an estimated decline of 14.5%.
CarMax (KMX) could gain ground after Standard & Poor’s said the company would replace XTO Energy (XTO) in the S&P 500 Index. Meanwhile, Acuity Brands (AYI) will replace CarMax in the S&P MidCap 400 Index, while Medifast (MED) will replace Acuity Brands in the S&P SmallCap 600 Index.
McKesson (MCK) is likely to see some activity after it reaffirmed its fiscal year 2011 earnings guidance of $4.72-$4.92 per share. Analysts estimate earnings of $4.83 per share.
H.B. Fuller (FUL) is expected to move in reaction to its announcement that its second quarter net revenues rose 16% year-over-year to $347.9 million. The company’s adjusted earnings rose more than 8% year-over-year to 39 cents per share. The results were ahead of expectations. The company expects net revenue growth of 10%-12% for 2010 compared to the 9.60% growth forecast by economists.
CKE Restaurants (CKR) may also be in focus after it said its first quarter revenues fell to $435.2 million from the year-ago’s $446.8 million. The company reversed to a loss of 6 cents per share from a profit of 26 cents per share in the same quarter last year. Analysts’ estimates, which typically exclude one-time items, called for a profit of 19 cents per share on revenues of $435.70 million.
Progressive Software (PRGS) rose in Tuesday’s after hours session after it reported that its second quarter revenues rose 9% to $127.7 million. On a non-GAAP basis, the company reported earnings of 59 cents per share, higher than 39 cents per share last year. Analysts estimated earnings of 54 cents per share on revenues of $130 million. For the full year, the company expects non-GAAP revenues of $510 million and non-GAAP earnings of $2.28-$2.35 per share. The consensus estimates call for earnings of $2.30 per share on revenues of $538.22 million.
RealNetworks (RNWK) could see some activity after it announced a reorganization plan that envisages the elimination of about 85 positions and also a reduction in its office space in Europe, Asia and at its Seattle headquarters. The company said it expects to record restructuring charges of $10 million in its June quarter.
Jabil Circuit (JBL) may move in reaction to its announcement that its third quarter net revenues rose to $3.5 billion from the year-ago’s $2.6 billion. The company’s core earnings climbed to 40 cents per share from 4 cents per share last year. Analysts estimated earnings of 33 cents per share on revenues of $3.21 billion. For the fourth quarter, the company expects core earnings of 28-34 cents per share, while the Street estimates earnings of 38 cents per share.Red Hat (RHT) may also be in focus after it said its first quarter revenues rose 20% year-over-year to $209.1 million, ahead of the $202.89 million consensus estimate. The company reported non-GAAP net income of 18 cents per share compared to the year-ago’s 15 cents per share and analysts’ estimate of 18 cents per share.
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