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Stocks to Watch: Dick's, Qualcomm (Update 2)

Stocks in this article: CHK PAY NTRI DKS QCOM

NEW YORK -- Dick's Sporting Goods (DKS) reported net income of 88 cents a share in the fourth quarter, meeting analysts' expectations.

Sales were $1.6 billion, compared to the consensus forecast of $1.61 billion.

For the full year 2012, Dick's Sporting Goods estimates earnings of $2.38 to $2.41 a share and a 2% to 3% increase in sales.

Shares were falling 1.4% to $45.57 in premarket trading on Tuesday.

Qualcomm (QCOM) announced a 16% increase in its quarterly dividend to 25 cents a share.

The board also announced a plan to repurchase $4 billion in stock.

Shares were up 0.5% to $62.40 in premarket trading.

Supermarket chain Safeway (SWY) said it sees earnings of $1.90 to $2.10 a share for 2012. The forecast beat analysts' estimates of $1.88 for the full year. In 2011, the company earned $1.78 a share.

Sales, excluding gas, are expected to grow by 1% to 2% as the company expects to benefit from remodeling at many of its stores.

Shares were up 4.1% to $23.

Drug wholesaler AmerisourceBergen (ABC) said it would buy transportation and logistics service provider World Courier Group in a deal worth $520 million in cash.

The deal is expected to close in the third quarter.

Shares of AmerisourceBergen were down 0.1% to $36.55.

Chesapeake Energy (CHK), the second-largest natural-gas producer in the U.S., announced a $250 million partnership with private-equity firm KKR to invest in U.S. oil and gas fields..

The Wall Street Journal reported the news earlier Tuesday.

Shares were down 0.9% to $24.23.

VeriFone (PAY), a maker of credit card terminals, posted adjusted earnings in its fiscal first quarter of 58 cents a share. Revenue rose 48% to $419.5 million.

Analysts were expecting VeriFone to earn 52 cents a share in the first quarter on revenue of $417.5 million.

Shares were up 0.6% to $46.55.

Nutrisystem (NTRI), the weight loss and management products company, reported a wider-than-anticipated loss in its latest quarter and gave a disappointing forecast for 2012.

The company posted a loss of $1.2 million, or 4 cents a share, for the three months ended Dec. 31 on revenue of $66.9 million. Analysts were expecting a loss of 2 cents a share on revenue of $64.4 million.

For the first quarter ending in March, Nutrisystem sees a loss of 5 cents to 10 cents a share, below the consensus view for a profit of 10 cents a share. For the full year, the company expects earnings of 45 cents to 55 cents a share; analysts expect profit of 92 cents.

Shares were plunging 11.1% to $11.88.

-- Written by Chao Deng and Joseph Woelfel in New York.

>To contact the writer of this article, click here: Joseph Woelfel

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