Stocks to watch Tuesday: Cirrus Logic, Genesco

WASHINGTON (MarketWatch) — Among the stocks that could see active trade in Tuesday’s session are Cirrus Logic Inc., Genesco Co. and WD-40 Co.

Synnex Corp. /quotes/zigman/331289/quotes/nls/snx SNX +1.48% , Rocky Mountain Chocolate Factory Inc. /quotes/zigman/63472/quotes/nls/rmcf RMCF -0.12%  and RF Monolithics Inc. /quotes/zigman/55396/quotes/nls/rfmi RFMI +6.19%  make up Tuesday’s earnings calendar.
Standard & Poor’s said Carter’s Inc. /quotes/zigman/313169/quotes/nls/cri CRI -0.39%  will take the place of 99 Cents Only Stores /quotes/zigman/162396/quotes/nls/ndn NDN +0.14%  in the S&P MidCap 400 index after the close of trading on Jan. 13, coinciding with the going-private buyout of the deep discounter. S&P also announced a pair of changes for its S&P SmallCap 600 index. Effective at the close on Friday, Virtus Investment Partners Inc. /quotes/zigman/112943/quotes/nls/vrts VRTS +3.55%  will replace Carter’s in the index, followed by SunCoke Energy Inc. /quotes/zigman/5938802/quotes/nls/sxc SXC +0.26%  taking a spot in the index as of the close of trading Jan. 17. SunCoke Energy, currently trading on a when-issued basis pending its spinoff from Sunoco Inc. /quotes/zigman/241559/quotes/nls/sun SUN -1.66% , will join the S&P SmallCap 600 in place School Specialty Inc. /quotes/zigman/69399/quotes/nls/schs SCHS -0.40% , while Sunoco will remain in the S&P 500 Index /quotes/zigman/3870025 SPX +0.23%  once the SunCoke transaction’s completed.
Also late Monday, Liz Claiborne Inc. /quotes/zigman/232365/quotes/nls/liz LIZ -11.88% revised its 2012 outlook for adjusted earnings before interest, taxes, depreciation and amortization and said its chief financial officer will be resigning. Andrew Warren is giving up the CFO’s post effective March 16, and the New York-based company that it has started a search for his replacement. As revised, Liz Claiborne now sees next year’s EBITDA in a range of $125 million to $140 million, down from a prior forecast calling for $130 million to $150 million. Management also pegged adjusted EBITDA for 2011 toward the low end of the company’s previously forecast range of $80 million to $90 million. Liz Claiborne is in the process of changing its name to Fifth & Pacific Cos.
Based on better-than-forecast sales for the fourth quarter to date, Genesco /quotes/zigman/227726/quotes/nls/gco GCO 0.00%  raised its profit outlook for the three months ended Jan. 28. As revised, the Nashville-based company expects to post earnings of $1.63 to $1.68 a share on an adjusted basis for the January quarter, up from a prior range of $1.53 to $1.58 a share and in turn lifting Genesco’s full-year forecast to $3.74 to $3.79 a share. The company said growth in same-store sales for the quarter to date through Jan. 7 was 13%, up from a 9% increase for the equivalent period last year, and highlighted the performance of Schuh, the U.K.-based retail business acquired last June.
Cirrus Logic /quotes/zigman/69936/quotes/nls/crus CRUS +10.61%  steered Wall Street higher regarding projected revenue for the third quarter ended Dec. 31. The Austin-based company now sees revenue of about $122 million, ahead of a previously forecast range of $102 million and $108 million. Business in the last few weeks of the quarter turned out “much stronger than we had anticipated, indicating that demand remains robust following the holiday season,” said President and CEO Jason Rhode in a statement.
Emulex Corp. /quotes/zigman/136024/quotes/nls/elx ELX +12.86%  said that with production capacity in Thailand fully restored following flooding that devastated the country recently, it’s revised higher its financial forecast for the second quarter ended Jan. 1, with both earnings and revenue anticipated to exceed the high end of management’s prior outlook. Specifically, Emulex now expects to generate earnings of 24 cents to 25 cents a share on an adjusted basis as well as revenue of $127 million to $128 million.

Monday earnings recap

Dow Jones Industrial Average component Alcoa Inc. /quotes/zigman/246295/quotes/nls/aa AA +3.34%  reported a wider-than-projected loss of 3 cents a share on an adjusted basis for the fourth quarter, but revenue of $5.99 billion came in stronger than analysts’ consensus forecast. Read more about Alcoa’s results and the outlook for global aluminum demand.
WD-40 /quotes/zigman/79861/quotes/nls/wdfc WDFC +2.98%  reported a profit of $6.8 million, or 42 cents a share, for the first quarter ended Nov. 30, off from $9.1 million, or 53 cents, earned in the same period during fiscal 2011. The San Diego-based company generated quarterly sales of $84.9 million, up 5%. The latest quarter’s gross margin narrowed to 48.7%, short of management’s target of 50% and down from the prior year’s 50.9%. However, President and CEO Gerry Ridge said WD-40 sees this as a “temporary shortfall,” citing both sales mix as well as recently implemented price increases aimed at offsetting higher commodity costs.