Resources Connection

(RECN) - Get Report

said it earned $15.7 million, or 31 cents a share, for the fourth quarter ended May 31, vs. $10.7 million, or 22 cents a share, a year ago. The business services provider reported revenue of $150 million for the quarter. Analysts expected earnings of 28 cents a share on revenue of $140.9 million, according to Thomson First Call. The stock rose 22% Wednesday morning.

Kirkland's

(KIRK) - Get Report

lowered its financial outlook for the seconded quarter ended July 30, citing weak traffic and sales trends. The company now expects to report a loss of 29 cents to 33 cents a share, compared with its previous forecast of a loss of 12 cents to 16 cents a share. Kirkland expects revenue in the range of $83 million to $85 million, down from its original outlook of $85 million to $88 million. Same-store sales are expected to decrease 11% to 13%, compared to a decrease of 7% to 10% as previously forecasted. The stock fell 9% early Wednesday.

California Pizza Kitchen

( CPKI) raised its second-quarter earnings guidance to 32 cents a share from its previous forecast of 26 cents to 28 cents a share. The restaurant operator said revenue rose 16.5% to $119.4 million for the second quarter compared with $102.5 million a year ago. Comparable same-store sales rose 8.6% vs. the forecasted increase of 5% to 6%. The increase in guidance was a result of strong same-store sales and a new point-of-sale system that helped in the transition from paper gift certificates to electronic gift cards, the company said. The stock rose more than 14% Wednesday.

Microtune

( TUNE) expects net revenue of $13.4 million for the second quarter ended June 30. The Plano, Texas, silicon and subsystems company said it also expects net revenue for the third quarter to grow by 15% to 18% compared to the second quarter. The stock gained 7% Wednesday morning.

Buffalo Wild Wings

(BWLD)

reported preliminary second-quarter earnings of 20 cents to 22 cents a share, up from its previous guidance of 15 cents to 17 cents a share. The restaurant operator expects revenue of $48.2 million vs. revenue of $39.6 million last year. The company said same-store sales for the second quarter rose around 2.7% at company-owned restaurants and about 1.8% at franchised locations. The increase in quarterly guidance is due to lower-than-expected cost of sales and general administrative expenses, the company said. The stock rose 11% Wednesday morning.

Mercury Computer Systems

(MRCY) - Get Report

announced that it will acquire Echotek Corp. for $49 million in cash and common stock. The deal is expected to close in the third quarter. "Echotek will extend our technology portfolio, and consistent with our growth strategy, enable us to address more opportunities in software radio and medical applications," said Jay Bertelli, president and chief executive officer at Mercury Computer Systems. The stock fell about half a percent Wednesday morning.

Instinet Group

( INGP) announced that its board has approved a special cash dividend of 32 cents, based on the net after-tax proceeds from the sale of Lynch, Jones, & Ryan to

Bank of New York

. The payable date will be August 15 to shareholders of record as of July 29. Instinet Group stock will trade ex-dividend for two days prior to the record date, according to the company's press release. The stock rose about a penny to $5.25 Wednesday morning.

Apogee Enterprises

(APOG) - Get Report

announced that William F. Marchido resigned to pursue other opportunities after a year and a half as CFO. James S. Porter, vice president of strategy and planning, has been named interim CFO as the company conducts internal and external searches to fill the position, Apogee said. The stock fell 2% Wednesday morning.