Stocks to Watch: Wyndham Sets Layoffs, Wal-Mart to Expand

Publish date:

Updated from 10:01 a.m. EDT

Drugstore chain

Rite Aid

(RAD) - Get Report

posted a second-quarter loss of $105.3 million, or 22 cents a share, before several one-time items. Analysts were expecting a loss of 14 cents. The company forecast sales of $7.7 billion to $8 billion for the rest of fiscal 2002.

Earnings Reports & Warnings:


Stein Mart

(SMRT) - Get Report

expects to post a loss of 20 cents a share in the third quarter. Analysts are calling for a loss of 6 cents. Same-store sales fell 4% in September, including a decline of 17% following the terrorist attacks in New York and Washington. Total sales for the month came to $280 million.

Office Depot

(ODP) - Get Report

said same-store sales for North American stores would be down 7% to 8% for the third quarter. The company said business was in line with forecasts prior to the terrorist attacks last month, but came to "an abrupt halt" immediately afterward. Office Depot said it doesn't know the full impact of the attacks yet. Analysts are expecting earnings of 20 cents a share for the quarter.



said same-store sales rose 9.8% in September compared with the same month a year ago. The company said total sales for the month rose 15.1% to $2.03 billion.

Miscellaneous News:

Applied Materials

(AMAT) - Get Report

reached a multiyear collaboration and licensing agreement for its FAB300 manufacturing execution system software with


(INTC) - Get Report

. The companies plan to implement the software in Intel's future 300 mm wafer fabs.

Hotel operator

Wyndham International


is furloughing or laying off about 1,600 workers, or 5% of its workforce. The company blamed an industry-wide slowdown.


(WMT) - Get Report

plans to open 50 new discount stores and 180 to 185 new super centers in the fiscal year starting Feb. 1, 2002. The company also said it will open 50 to 55 Sam's Club warehouses, about half of which will be relocations or expansions of existing locations.

After Monday's Close:



said it expects to

report an operating loss in the third quarter. The company now expects an operating loss of 5 cents to 7 cents a share for the quarter, on revenue of $7.4 billion to $7.5 billion. Analysts had been expecting the company to earn 5 cents.