Bed Bath & Beyond ( BBBY) on Wednesday issued forecasts for the fourth quarter and fiscal year that were below analysts' views. The retailer said it expects fourth-quarter earnings of $1.60 to $1.67 a share, and fiscal-year earnings of $4.48 to $4.54 a share. Analysts are calling for fourth-quarter earnings of $1.75 a share, and 2012 earnings of $4.62 a share. Bed Bath & Beyond's board also authorized a new $2.5 billion stock buyback program. 5 Retail Sector Bargains to Buy Before 2013
Jabil Circuit ( JBL) posted fiscal first-quarter earnings on Wednesday that topped Wall Street estimates. Adjusted earnings for the first quarter were 61 cents a share; analysts forecast profit of 56 cents a share. Jabil said sales in the quarter rose to $4.64 billion from $4.33 billion a year earlier. Analysts were expecting sales of $4.41 billion. Stephen Gillett Leaves Sinking-Ship Best Buy for Symantec
Research In Motion ( RIMM), the BlackBerry maker, is expected by analysts on Thursday to post a fiscal third-quarter loss of 35 cents a share. RIM, which has steadily been losing market share in the U.S., is banking on reversing its fortunes with BlackBerry 10, the new operating system that will be unveiled at the end of next month.
An experimental therapy from Amicus Therapeutics ( FOLD) and GlaxoSmithKline ( GSK) failed to improve kidney response in Fabry disease patients compared to placebo in a late-stage study, the companies disclosed late Wednesday. Amicus shares closed Wednesday at $5.77 but fell 55% to $2.60 in after-hours trading. Amicus Fabry Drug Fails Pivotal Trial
Analysts expect ConAgra Foods ( CAG) on Thursday to report fiscal second-quarter earnings of 55 cents a share on revenue of $3.69 billion.
Discover Financial Services ( DFS) is expected by Wall Street to post fourth-quarter earnings Thursday of $1.11 a share.
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