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On the Watch: BKS FRPT PMI



By AP
04 March 2008 @ 06:05 am EST

NEW YORK - Bookseller Barnes & Noble Inc. will be in the spotlight Tuesday after the New York-based company raised its fourth-quarter earnings guidance following Monday's market close, but said its adjusted profit will still likely fall below Wall Street analysts' estimates.

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Shares fell more than 5 percent in aftermarket electronic trading. Barnes & Noble shares closed Monday's session at $28.33.

Also likely to draw investor attention is Force Protection Inc., after the Ladson, S.C., company, which makes armored vehicles for the military, said its interim chief financial officer and its chief operating officer left the company. The CFO was replaced, but the COO position will remain unfilled, the company said. The announcements followed a delay in filing its 2007 financial results.

Force Protection also said its interim chief executive, Michael Moody, would take the job on a permanent basis. Shares fell about 3 percent in aftermarket trading, after closing down nearly 13 percent to close Monday at $3.58.

And PMI Group Inc. fell nearly 6 percent in late trading after the Walnut Creek, Calif., mortgage insurer said it expects to report a loss of more than $250 million for the fourth quarter, but delayed filing its annual report because of issues regarding its stake in troubled bond insurer Financial Guaranty Insurance Co.

PMI shares closed at $6.78 Monday.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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