Stocks to Watch: Ruby Tuesday, BlackRock

NEW YORK -- Ruby Tuesday ( RT) posted a fiscal second-quarter loss that was wider than analysts' expectations and said it plans to close up to 24 restaurant locations.

Ruby Tuesday said Wednesday it expects adjusted earnings for the 2013 fiscal year of 24 cents to 30 cents a share, below analysts' forecasts of 29 cents a share.

BlackRock ( BLK), the U.S. asset manager and world's largest, agreed to buy Credit Suisse's ( CS) exchange-traded fund business.

BlackRock said the purchase of the unit, which has $17.6 billion of client assets under management, is expected to close by the end of the second quarter. Terms of the deal weren't disclosed.

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Sprint Nextel ( S) is under no pressure to raise its $2 billion offer for Clearwire ( CLWR) to beat a higher bid by Dish Network ( DISH), Reuters reported, citing three sources close to the matter.

Sprint believes it holds several trump cards it can play to thwart rival Dish, the sources said.

Dish earlier this week offered to acquire Clearwire for $3.30 a share, or $5.15 billion, topping a bid from Sprint of $2.97 a share.

PriceSmart ( PSMT) posted fiscal first-quarter sales and profit that topped analysts' views.

The warehouse club company earned $20 million, or 66 cents a share, in the quarter, compared with year-earlier earnings of $14 million, or 47 cents a share.

Revenue rose to $535.3 million from $477.5 million.

Analysts expected profit of 62 cents a share on revenue of $535.4 million.

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AIG ( AIG) said Wednesday it won't join a lawsuit to sue the federal government over the $182 billion bailout that saved the giant insurance company from collapse during the 2008 financial crisis.

MSC Industrial Direct ( MSM) is expected by analysts Thursday to report first-quarter earnings of $1.01 a share on revenue of $582.3 million.

-- Written by Joseph Woelfel

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