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Stocks to Watch: Amazon to Unveil Tablet

NEW YORK ( TheStreet) -- Amazon (AMZN - Get Report) shares were rising 1% to $226.40 in premarket trading Wednesday as the online retail giant gets ready to launch its long-anticipated tablet computer.

Electronics manufacturing services provider Jabil Circuit (JBL - Get Report) forecast first-quarter earnings of 62 cents to 70 cents a share on revenue of between $4.3 billion and $4.5 billion. The current consensus view is for profit of 61 cents a share on revenue of $4.41 billion in the quarter.

The company posted core earnings of $136.3 million, or 62 cents a share, on revenue of $4.28 billion for its fourth quarter, trouncing the average estimate of analysts polled by Thomson Reuters for a profit of 56 cents a share on revenue of $4.19 billion.

Shares were surging 9% to $18.95 in premarket trading Wednesday.

Progress Software (PRGS - Get Report) said it sees non-GAAP earnings of 30 cents to 33 cents a share for the fourth quarter on revenue ranging from $130 million to $134 million. Analysts are looking for a profit of 42 cents a share in the quarter on revenue of $145.4 million.

The Bedford, Mass.-based maker of infrastructure software reported third-quarter non-GAAP earnings that beat the average analysts' earnings per share view by 2 cents.

Shares were tumbling 7.3% to $17.98.

Shares of Avago Technologies (AVGO - Get Report) were tumbling 3.6% to $33.25 after the analog semiconductor devices provider announced the sale of 15 million Avago shares by certain shareholders to Citigroup and Deutsche Bank Securities, the underwriters in the public offering of those shares.

Payroll, human resource and benefits outsourcing solutions provider Paychex (PAYX - Get Report) reported first-quarter earnings of 41 cents a share, beating the average analyst estimate of 38 cents a share.

Shares were spiking 2.6% to $27.39 in premarket trading Wednesday.

Shares of apparel company Ralph Lauren (RL - Get Report) were falling 1.9% to $145.94 after the stock was cut to hold from buy at Citigroup.

Independent oil and natural gas company SandRidge Energy (SD) agreed to sell certain East Texas natural gas properties to NFR Energy for $231 million.

SandRidge plans to use the cash proceeds to fund a portion of its oil-focused drilling program. SandRidge expects the transaction to close in November.

Shares were rising 1.7% to $6.60.

Darden Restaurants (DRI - Get Report) posted first-quarter earnings of 78 cents a share, in line with analysts estimates.

Shares were falling 1.2% to $46.40.

Family Dollar Stores (FDO) is predicting full-year earnings of between $3.50 and $3.75 a share vs. the average analyst estimate of $3.58 a share.

The company forecasts earnings of 65 cents to 73 cents a share in the first quarter vs. the Wall Street consensus target of 66 cents a share.

Family Dollar reported fourth-quarter sales of $2.13 billion, in line with estimates, while profit came in at 66 cents a share vs. the average analyst estimate of 63 cents. Gross profit as a percentage of sales came in at 34% from 34.7% mainly because of stronger sales of lower-margin consumables.

Shares were down 1.2% to $53.52.

Google (GOOG - Get Report) plans to build three of its own data centers in Europe with an investment of more than $200 million.

The stock was rising 0.5% to $542.11.

-- Written by Andrea Tse in New York.

>To contact the writer of this article, click here: Andrea Tse.

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Copyright 2011 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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