SAN FRANCISCO -- Among the companies whose shares are expected to see active trade in Tuesday's session are Intel, PepsiCo, Johnson & Johnson and CSX.

Intel Corp. (INTC) is projected to report third-quarter earnings of 35 cents a share, according to analysts surveyed by FactSet Research.

PepsiCo (PEP) is expected to post earnings of $1.08 a share in the third quarter.

Johnson & Johnson (JNJ) is forecast to report earnings of $1.11 a share in the third quarter.

Analysts surveyed by FactSet Research are estimating CSX Corp. (CSX) to report third-quarter earnings of 93 cents a share.

Linear Technology (LLTC) is likely to post a fiscal first-quarter earnings of 44 cents a share.

Genentech (DNA) is expected to post earnings of 85 cents a share in the third quarter.

Analysts predict Polaris Industries Inc. (PII) to post earnings of $1.10 a share in the third quarter.

Domino's Inc. (DPZ) is projected to report third-quarter earnings of 20 cents a share.

Analysts estimated Altera Corp. (ALTR) to post earnings of 30 cents a share in the third quarter.

Supervalu Inc. (SVU) is likely to post fiscal second-quarter earnings of 70 cents a share.

W.W. Grainger (GWW) is expected to report earnings of $1.53 a share in the third quarter.

After Monday's closing bell, Banco Santander (STD) said it will buy the 75.65% stake in Sovereign Bancorp Inc. (SOV) that it already does not own for about $1.9 billion in a stock-for-stock deal. The Spanish bank currently owns 24.35% of Sovereign. Under the terms of the agreement, Sovereign shareholders will receive 0.2924 Banco Santander American Depository Share for every share of Sovereign common stock. "The transaction meets Santander's criteria for acquisitions, both strategically, by significantly enhancing the geographical diversification of the Group, and financially, with a projected net profit for Sovereign of $750 million in 2011," said Santander in a statement.

Watch list

Stacey Snider and Steven Spielberg of DreamWorks SKG (DWA) announced they have signed a 7-year distribution deal between their new movie company and General Electric Co.'s (GE) Universal Pictures. Snider and Spielberg recently left Paramount Pictures to partner with India's Reliance Big Entertainment on a new film company. Under the deal, Universal will distribute about six of the new company's films a year beginning in 2009.

General Motors (GM) will close a metal stamping plant in Wyoming, Mich., by the end of 2009, the Associated Press reported. The closure will affect 1,340 hourly jobs.

GMAC Financial Services, the financing arm of General Motors (GM) , said it will adopt a more conservative policy for auto financing in response to the instability in the global credit markets. The changes include limiting purchases to contracts with a credit score of 700 or above and restricting contracts with higher advance rates and longer terms. "These changes in pricing and underwriting are related to the current market environment, which has reduced access to funds and increased the cost of funds. The company currently expects these actions to remain in place until the credit markets stabilize and accessibility improves," said GMAC in a statement.

Macrovision Solutions Corp. (MVSN) will sell TV Guide Magazine to OpenGate Capital as a part of its corporate strategy. "Macrovision is focused on providing technology solutions and TV Guide Magazine was identified as a business not aligned with that core corporate strategy," said the company in a statement. Macrovision does not expect to record any gains or losses related to the sale as TV Guide had been classified as discontinued operations. The deal is expected close in around Dec. 1. See full story

Fitch Ratings lowered Morgan Stanley's (MS) long and short-term issuer default ratings to A/F1 from AA-/F1+ due to continued pressure on its profitability and funding despite the capital injection from Mitsubishi UFJ. The move also takes into account the continued challenges Morgan Stanley faces in its transition to a financial holding company. "Fitch expects Morgan Stanley to experience a material reduction in revenues as its three strongest revenue generators face declines. Customers are migrating away from its premier prime brokerage business due to deleveraging and concerns around the protection of client assets. Morgan Stanley's investment banking activities are also facing economic headwinds, as is its commodities trading business," said the ratings agency. The outlook remains negative to reflect the weakened earnings potential of investment banking operations in this tumultuous economic period, Fitch said. See related story

Wynn Resorts Ltd. (WYNN) expects a drop in its third-quarter Las Vegas operating results while Macau results are expected to be better than last year's. Wynn said it expects an operating loss or a gain of $2 million in Vegas, compared with operating income of $35.8 million a year ago. In Macau, Wynn expects operating income of $57 million to $63 million, compared with $39.2 million a year ago.

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