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Stocks to watch Friday: P&G, Kraft, Dolby

WASHINGTON (MarketWatch) -- Among the stocks that could see active trade in Friday's session are Kraft Foods Inc., LinkedIn Corp. and Dolby Laboratories Inc.

The end of the week brings quarterly financial results from blue chip Procter & Gamble Co. (PG) as well as from Viacom Inc. (VIAB) (VIA) , ITT Corp. (ITT) , Federal Signal Corp. (FSS) , Superior Industries International Inc. (SUP) , RBC Bearings Inc. (ROLL) , Beazer Homes USA Inc. (BZH) , Health Net Inc. (HNT) and Sirona Dental Systems Inc. (SIRO) , among others.

Dow Jones Industrial Average component Kraft (KFT) said it would spin off its snacks and grocery units serving North America, to be known as as Kraft Foods Group, effective Oct. 1 after the close of New York trading. Terms call for eligible Kraft Foods stockholders to receive one share of Kraft Foods Group for every three of their Kraft Foods shares. The record date is not yet finalized, but it's expected to be in mid-September, the Northfield, Ill.-based company said as it reported second-quarter results late Thursday. Before that, common shares for both companies are expected to begin trading on a "when-issued" basis. Starting Oct. 2, Kraft Foods Group will trade on the Nasdaq Global Select Market under the symbol KRFT, while Kraft Foods will change its name to Mondelez International Inc. and trade under the symbol MDLZ. The company also announced directors who will sit on the boards of the two independent companies. Read more on Kraft's quarterly results.

Along with reporting second-quarter results that included year-over-year revenue growth of 89%, LinkedIn (LNKD) raised its full-year revenue target to a range of $915 million to $925 million, up from the $880 million to $900 million previously forecast. The Mountain View, Calif.-based company also revised higher its 2012 forecast for earnings before interest, taxes, depreciation and amortization on an adjusted basis, to a range of $185 million to $190 million from $170 million to $175 million previously. LinkedIn's projected revenue of $235 million to $240 million for the third quarter would be higher than the $228.2 million generated in the three months through June.

Along with reporting results for the third quarter ended June 29, Dolby Laboratories (DLB) updated its full-year profit forecast to reflect what President and Chief Executive Kevin Yeaman called "a challenging global economy." For fiscal 2012, San Francisco-based Dolby's now anticipating total revenue to range from $900 million to $920 million. Third-quarter and nine-month revenue amounted to $207.9 million and $701.5 million, respectively; revenue dropped from year-earlier levels for both reporting periods. The company also pegged net earnings in a range of $2.35 to $2.43 a share as well as profit on adjusted basis in a range of $2.75 to $2.83 a share.

American Water Works Co. (AWK) revised higher its 2012 outlook as the company reported second-quarter results late Thursday, partially reflecting greater demand for water. The Voorhees, N.J.-based company now estimates 2012 earnings for continuing operations in a range of $2.12 to $2.22 a share. The forecast assumes normal weather patterns will prevail for the balance of the year. However, the updated outlook includes 13 cents to 16 a share from increased pumpage experienced by American Water Works through the end of July. The company posted both higher revenue and profit in the June quarter compared to the prior year.

Sierra Wireless Inc. (SWIR) said it anticipates both sequentially lower profit on an adjusted basis and revenue in the third quarter, primarily reflecting "normalizing sales patterns" in mobile computing on the heels of second-quarter results that came in higher than management had forecast. Earnings have been pegged by the Vancouver-based company in a range of 14 cents to 19 cents a share, down from an adjusted 30 cents a share for the June quarter. Sierra Wireless also projected third-quarter revenue of $157 million to $162 million, off from $167.4 million in the latest three months. Sales of mobile-computing products for use on 4G networks were "exceptionally strong" in the second quarter, noted Jason Cohenour, president and CEO of Sierra Wireless. The third-quarter forecast excludes any impact from the acquisition of France-based Sagemcom M2M, a deal that closed Thursday.

Verso Paper Corp. (VRS) said it will take a pre-tax charge to earnings of about $114 million as a result of management's decision to close permanently its Sartell, Minn., paper mill. The charge, including some $19 million for severance and benefit costs as well as $81 million primarily related to the impairment of property, plant and equipment, is expected to occur primarily in the third quarter of 2012, the Memphis-based company said. Two of the mill's three paper machines were shut down last December, and the facility was the scene of a major explosion and fire in late May. Management's comprehensive assessment "indicates that it is impossible for the mill to achieve a competitive position in today's marketplace, especially after a setback of this magnitude and duration," said David Paterson, Verso's president and CEO, in a statement. The company said that its coated groundwood capacity would be reduced by about 20%, or 180,000 tons a year, and that about 35,000 tons of annual supercalendered paper capacity will be eliminated as a result of closing the mill.

Vantiv Inc. (VNTV) pricing a secondary public offering of Class A common stock at $21.90 a share. More than 12.2 million shares are up for sale, with underwriters having a 30-day option to buy additional shares up to more than 1.8 million if needed to satisfy investor demand. No shares are being sold by Vantiv, as selling stockholders will receive all of the proceeds, the Cincinnati-based company said.

The board of Tredegar Corp. (TG) declared a dividend on common stock of 6 cents a share, a 33% increase over the prior quarterly payout. The dividend's payable Oct. 1 to stockholders of record as of Sept. 14, the Richmond, Va.-based company said.