By Sue Chang, MarketWatch
SAN FRANCISCO (MarketWatch) -- Among the companies whose shares are expected to see active trade in Wednesday's session are Hewlett-Packard Co., Target Corp. and Staples Inc.
Retailer Target (TGT) said Wednesday its second-quarter profit fell to $611 million, or 95 cents a share, from $704 million, or $1.06 a share, a year earlier. Excluding dilution from its Canadian segment, adjusted profit was $1.19 a share.
Target was expected to report second-quarter earnings of 96 cents a share, according to FactSet. The stock was cut to neutral from positive at Susquehanna on Tuesday.
Its shares fell 2% in premarket trading.
Staples (SPLS) reported Wednesday a profit of $102.5 million for its second quarter, or 16 cents a share, versus a year-ago profit of $120.4 million, or 18 cents a share.
The office-supply giant was expected to post second-quarter earnings of 18 cents a share.
"We think there is enough wiggle room for the company to deliver at least in-line results for the quarter given easier [year-on-year] comparisons than in [the first quarter], but we are increasingly concerned that the company's expectation for [second-half] growth may be optimistic given still sluggish tech sales, sustained international weakness, and a slow start (plus cautious outlook) for back-to-school," said analysts at B. Riley in a report issued Monday.
The company's shares slumped 9.4% in premarket trading.
Lowe's Cos. (LOW) reported second-quarter earnings that were better than expected. The home-improvement retailer's net profit rose to $941 million, up 26% from $747 million in the year-ago period.
The company was forecast to post second-quarter earnings of 79 cents a share. Lowe's saw a 4.5% rise in its shares in premarket trading.
PetSmart Inc. (PETM) is likely to report second-quarter earnings of 86 cents a share. "Our READ data suggests favorable underlying pet ownership and strength at PETM," said analysts at Stifel Nicolaus in a recent note. The company's shares rose 0.9% in premarket trading.
Toll Brothers Inc. (TOL) saw a 24% drop in its fiscal third-quarter profit. The home builder reported a profit of $46.6 million, or 26 cents a share, down from earnings of $61.6 million, or 36 cents a share, in the year-earlier period.
The company was projected to report third-quarter earnings of 26 cents a share. Its shares fell 0.5% in premarket trading.
Madison Square Garden Co. (MSGNV) reported earnings of 47 cents a share, up from 37 cents for the same period in 2012. The company was expected to post earnings of 33 cents a share in the fourth quarter. Its shares fell 3.6% in premarket trading.
J. M. Smucker Co. (SJM) said Wednesday its fiscal 2014 first-quarter profit rose to $126.6 million, or $1.19 a share, up from $110.9 million, or $1.00 a share, in the year-ago period. The company, which owns brands including Smucker's, Folgers and Pillsbury, was forecast to report earnings of $1.21 a share in the first quarter.
After market close
After the market close on Wednesday, Hewlett-Packard (HPQ) is projected to report third-quarter earnings of 86 cents a share, according to a consensus survey by FactSet.
"We expect in line revenue and EPS upside for [the third quarter] with FY13 EPS guidance moving toward the high end of the $3.50-$3.60 range," said Brian Alexander at Raymond James in a recent report.
Alexander said Hewlett-Packard has made progress in some important areas but revenue growth is still likely to face headwinds in fiscal 2014. The company's shares gained 0.2% in premarket trading.
L Brands Inc. (LTD) is likely to report second-quarter earnings of 60 cents a share.
-Sue Chang; 415-439-6400; AskNewswires@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
08-21-13 0859ETCopyright (c) 2013 Dow Jones & Company, Inc.
|H-P, Target, Staples are stocks to watch Wednesday ()|
|UPDATE: Green Mountain, Target, Pandora are stocks to watch (2013/11/21)|
|UPDATE: LinkedIn, H&R Block are stocks to watch Wednesday (2013/9/4)|
|UPDATE: J.C. Penney, Staples are stocks to watch (2013/11/20)|
|J.C. Penney, Staples are stocks to watch (2013/11/20)|
|UPDATE: GM, Facebook, Sprint are stocks to watch Wednesday (2013/10/30)|
|LinkedIn, H&R Block are stocks to watch Wednesday ()|
|UPDATE: GM, Ford, Tesla are Friday's stocks to watch (2013/11/1)|
|UPDATE: Exxon, NY Times, AIG are stocks to watch Thursday (2013/10/31)|
|UPDATE: Best Buy, J.C. Penney are stocks to watch Tuesday (2013/8/20)|
|Start Premium Trial||Register For Free|
|P||F||Fund Financial Data (13,000+ funds)|
|P||F||Stock Financial Data (7,000+ stocks)|
|P||F||Stock and Fund Screeners (basic)|
|P||F||Investing Articles and Market Commentary|
|P||F||Articles Archive (>30 days)|
|P||F||Discuss (dozens of stock, fund, bond, and general bulletin boards)|
|P||F||Portfolio Manager (basic)|
|P||F||Morningstar Investment Classroom|
|P||F||Access Your Portfolio Anytime, Anywhere via Your Mobile Device|
|P||Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)|
|P||Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)|
|P||Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)|
|P||Portfolio Monitor (monthly and on-demand personalized portfolio statements)|
|P||Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)|
|P||Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters|
|P||Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)|
|P||Discounts on Morningstar newsletters, books, seminars, and more|
Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.
Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.