Hewlett-Packard ( HPQ) announced that its board has authorized an additional $4 billion for future common stock repurchases. The company said it intended to offset dilution from the issuance of shares under employee benefit plans. Hewlett Packard has repurchased $2.1 billion of its common shares in the three fiscal quarters ended July 31. The stock was up 10 cents, or 0.37%, to $27. Petco Animal Supplies ( PETC) said it earned $18 million, or 31 cents a share, on revenue of $482.7 million for the third quarter ended July 30. This compares with earnings of $19.3 million, or 33 cents a share, on revenue of $438.5 million a year ago. Analysts expected a profit of 31 cents a share on revenue of $486.7 million, according to Thomson First Call. Petco said it is making investments in the third quarter to improve customer service and complete its remerchandising initiative. Along with the investments the company noted the negative effect that higher gasoline prices have had on its current quarter. Because of this Petco now expects same store sales for the third quarter of flat to up 2% and sees third quarter earnings of 25 cents to 28 a share. Wall Street was forecasting earnings of 39 cents a share. The stock was down $1.90, or 7.44%, to $23.65. Novell ( NOVL) posted earnings of $2 million, or less than a penny a share, for the third quarter ended July 31, compared with $24 million, or 6 cents a share, a year ago. Revenue for the quarter was $290 million, down from $305 million last year. Excluding certain items, the company earned $14 million, or 3 cents a share. Analysts polled by Thomson First Call expected earnings of 2 cents a share on revenue of $300.9 million. The stock was down 14 cents, or 2.27%, to $6.03 in after-hours trading. Agile Software ( AGIL) reported a loss of $3.3 million, or 6 cents a share, for the first quarter ended July 31, versus a loss of $3 million, or 6 cents a share, a year ago. Revenue for the quarter increased 30% to $34.4 million from $26.5 million last year. Excluding certain items, Agile lost $1.2 million, or 2 cents a share. According to Thomson First Call, analysts expected a loss of 2 cents a share on revenue of $32.6 million. The stock was unchanged at $6.87. OmniVision ( OVTI) reported earnings for the first quarter ended July 31 and guided toward higher-than-expected revenue for the third quarter. The company said it earned $14.4 million, or 24 cents a share, for the quarter, down from $19.9 million, or 32 cents a share, a year ago. The supplier of CMOS image sensors said revenue for the quarter dipped slightly to $96 million from $98.8 million last year. Analysts polled by Thomson First Call expected earnings of 26 cents a share on revenue of $95.3 million. For the second quarter, OmniVision expects to earn 28 cents to 33 cents a share on revenue of $110 million to $120 million, compared with Wall Street's forecast of 29 cents a share on sales of $103 million. The stock was up $1.96, or 14.65%, to $15.34. Chico's FAS ( CHS) matched Wall Street's earnings forecast for the second quarter ended July 30. The retailer said it earned $49 million, or 27 cents a share, for the quarter, compared with $35 million, or 20 cents a share, a year ago. Revenue for the quarter increased 34.6% to $343 million. Comparable same-store sales for company owned stores rose 15.7%. Analysts expected earnings of 27 cents on revenue of $339.9 million. The stock was down $1.87, or 5.04%, to $35.20. Liberty Corp. ( LC) announced that it has agreed to be acquired by privately held Raycom Media for $47.35 a share in cash. Liberty media operates 15 network television stations, while Raycom operates 37 stations in 20 states and covers over 10% of U.S. television households. The stock was unchanged at $37.45. Zygo ( ZIGO), a supplier of semiconductor components, swung a profit of $3.8 million, or 21 cents a share, for the fourth quarter ended June 30, from a loss of $1.9 million, or 10 cents a share, a year ago. Revenue for the quarter rose 24% to $44.9 million, from $36.3 million last year. The stock was up 93 cents, or 8.53%, to $11.83. LTX ( LTXX) reported a loss of $6.2 million, or 10 cents a share, on revenue of $38.9 million for the fourth quarter ended July 31. This compares with net income of $8.9 million, or 14 cents a share, on revenue of $80.4 million last year. Analysts expected a fourth quarter loss of 10 cents a share on revenue of $39 million. For the first quarter, LTX expects a loss of 8 cents to 10 cents a share on revenue of $43 million to $45 million. The stock was down 36 cents, or 6.34%, to $5.32. Scotts Miracle-Gro ( SMG) announced it will acquire the Rod McLellan Company, a provider of soil and landscape products, for $20 million in cash. "This transaction also will give us market share in the western U.S. that is consistent with our presence in the rest of the country and allow us to further strengthen our relationships with independent nurseries and garden centers, which are critical to our long-term success," said Jim Hagedorn, chairman and chief executive officer of ScottsMiracle-Gro. The deal is expected to close on Oct. 3. The stock was unchanged at $80.11.