Deere posts $1.32 vs. $1.18 third quarter EPS on 17% worldwide net sales and revenue rise. Wall Street was looking for $1.36. The company expects fourth quarter equipment sales to increase by about 29% [including 5% or currency translation impact], and sees net income of about $425 million. Deere notes escalating raw material costs are expected to have an impact on margins for fourth quarter. It also expects fiscal 2008 worldwide sales of construction and forestry equipment to decline by approximately 5%.

NAVISTAR INTERNATIONAL CORP. (NAV)

Navistar reduces its industry forecast of U.S. and Canadian retail sales volume for Class 6-8 trucks and school buses for fiscal 2008, but reaffirms its guidance for record fiscal 2008 revenues of more than $15 billion, with solid profitability. Navistar says it now believes industry volume will total 235,000 to 245,000 units, down from a previous forecast of about 258,000 units. Based on current conditions, the company also forecast fiscal 2008 EPS in the range of $4.26-$5.72.

APPLIED MATERIALS, INC. (AMAT)

Applied Materials posts better-than-expected 17 cents vs. 37 cents third quarter non-GAAP EPS on a 28% sales drop. Wall Street was looking for 14 cents. S&P reiterates buy.

TOLL BROTHERS, INC. (TOL)

Toll Brothers says preliminary third quarter home building revenues were approximately $796.5 million, backlog was approximately $1.75 billion and net signed contracts were approximately $469.7 million. The company notes total cancellations of 195 were lowest quarterly total in over two years. S&P says third quarter revenues were only slightly below last quarter, but above its $782 million estimate; maintains buy.

MACY'S INC. (M)

Macy's posts lower-than-expected 17 cents vs. 16 cents second quarter EPS on 2.1% lower same-store sales. The company sees $1.70-$1.85 fiscal 2009 EPS, excluding one-time consolidation costs and impairment charges, and anticipates same-store sales to be down 1% to down 1.6%.

LONGS DRUG STORES CORP. (LDG)

The company agreed to be acquired by CVS Caremark (CVS) in a $2.9 billion deal [including assumption of debt]. Terms: $71.50 cash per Longs share.

AMERIPRISE FINANCIAL, INC. (AMP)

Ameriprise says it agreed to buy H&R Block's (HRB) brokerage business, H&R Block Financial Advisors [HRBFA], for $315 million in cash. Ameriprise noted it expects the deal to be accretive to EPS and return on equity in early 2010. The transaction is subject to customary regulatory approvals, and is expected to close in four to six months.

LIZ CLAIBORNE, INC. (LIZ)

The company posts 9 cents vs. 23 cents second quarter adjusted EPS from continuing operations on a 7.1% sales decline. It sees 37 cents to 42 cents third quarter adjusted EPS, and narrows its $1.40-$1.60 2008 adjusted EPS view to $1.40-$1.50.

NVIDIA CORP. (NVDA)

Nvidia posts better-than-expected 13 cents vs. 34 cents second quarter EPS on 4.6% lower revenue. The Street consensus had been 12 cents non-GAAP EPS. The company also announces an increase of $1 billion to its stock repurchase program, under which it may now purchase up to $2.7 billion of its common stock.

BROCADE COMMUNICATIONS SYSTEMS, INC. (BRCD)

Brocade posts 16 cents vs. 12 cents third quarter non-GAAP EPS on a 12% revenue rise.

TWEEN BRANDS, INC. (TWB)

The company posts a 27-cent second quarter loss per share vs. 7 cents EPS on an 8% same-store sales drop and a 4.4% total sales rise. The company says the results are "extremely disappointing." Tween will convert about 560 Limited Too stores to its more value-oriented Justice brand, and sees a restructuring charge of about $18 million, or 45 cents per share, in the 2008 second half. It sees second-half EPS of 35 cents to 65 cents, which includes about 45 cents related to the restructuring charge. Citigroup reportedly downgrades to sell from hold.

BEST BUY CO., INC. (BBY)

Best Buy announces that it will carry Apple'S (AAPL) iPhone 3G at Best Buy Mobile stores nationwide beginning September 7.