Market Snapshot September 9, 2009, 4:45PM EST

Stocks End Higher

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McDonald's (MCD) posted 2.2% higher August global same-store sales, which disappointed investors.

Talbots (TLB) posted $0.33 second quarter loss per share, vs. $0.17 loss from continuing operations a year ago, on 25% lower total sales. The Street was looking for $0.52 second quarter loss. The retailer sees $0.24-$0.30 third quarter loss from continuing operations, based on expected top line sales decline in the range of about 14%-17%.

Microchip Technology (MCHP) said based on good starting backlog and strong bookings and sales activities for the first two months of the quarter, it now expects its net sales to be up 12%-14% from last quarter. It sees $0.26-$0.27 non-GAAP EPS ($0.20-$0.22 GAAP). It now sees gross margins about 350-400 basis points above first quarter level, vs. previous guidance of up 250-350 basis points. It cited strong demand for all of its microcontroller and analog product families.

Altera (ALTR) said that, based on quarter-to-date results and a broad improvement in market conditions, it now expects third quarter sales to be flat to up 3% from the second quarter. Previous guidance had been for sales to decline 1%-5% quarter-to-quarter. All market segments, except for telecom and wireless segment, will be up sequentially in the third quarter. The decline in telecom and wireless is more moderate than previously anticipated as a result of better-than-forecast demand from OEMs supplying Asian wireless networks, the company said.

Landry's Restaurants (LNY) announced its board has authorized its Special Committee to review strategic alternatives for the company, including a possible sale of the company.

United Natural Foods (UNFI) posted $0.36, vs. $0.30, fourth quarter EPS as lower operating expenses offset 6.4% lower sales. It expects fiscal year 2010 EPS of $1.48-$1.58.

Pep Boys-Manny, Moe & Jack (PBY) posted $0.15, vs. $0.10, second quarter EPS as improved gross margin and tight spending control offset 2.3% lower same-store sales and 2.2% lower total sales. While EPS were a penny ahead of Street view, revenue of $488.9 reportedly fell short of analysts view of $503 million. On Sept. 2, S&P said in a research note that it expected flat same-store sales.

Korn/Ferry International (KFY) posted $0.05 first quarter loss (excluding restructure charge), vs. $0.36 EPS a year ago, on 43% lower total revenue.

NYSE Euronext (NYX) said it has agreed in principle on a framework with leading liquidity providers and market making firms to sell a significant equity interest in NYSE Amex options, one of its two U.S. options exchanges. NYX will remain the largest shareholder in the entity, which aims to enhance the competitive position of NYSE Amex options.

Thursday's release of the July trade deficit is expected to be unchanged at $27.5 billion. Exports are expected to rise 0.2%, and imports are expected to climb 0.1%, says Action Economics.

McCormack is senior producer for BusinessWeek.com's Investing channel.