Stocks to Watch: Stocks to watch Thursday: Libbey, J.M. Smucker

WASHINGTON (MarketWatch) � Among the stocks that could see active trade in Thursday�s session are Libbey Inc., Ignite Restaurant Group Inc. and J.M. Smucker Co.

Into the teeth of earnings season: Verizon Communications Inc. VZ , Travelers Cos. TRV �and Microsoft Corp. MSFT �are on deck as the three Dow Jones Industrial Average components scheduled to report quarterly results Thursday. Notables also on the calendar include Morgan Stanley MS , Google Inc. GOOG , Advanced Micro Devices Inc. AMD , Union Pacific Corp. UNP , Southwest Airlines Co. LUV , Baxter International Inc. BAX , Laboratory Corp. of America Holdings LH , Quest Diagnostics Inc. DGX , Intuitive Surgical Inc. ISRG , Textron Inc. TXT , Nucor Corp. NUE , Genuine Parts Co. GPC , Johnson Controls Inc. JCI , PPG Industries Inc. PPG , Sherwin-Williams Co. SHW , VF Corp. VFC , Philip Morris International Inc. PM , Safeway Corp. SWY and Chipotle Mexican Grill Inc. CMG , among many others.

/quotes/zigman/129512/quotes/nls/lby LBY 14.35, -0.18, -1.24%

Libbey LBY �announced a strategic plan featuring a streamlined organization built around three regions � the Americas; Europe, Middle East and Africa; and Asia Pacific � that the Toledo, Ohio-based company said will yield greater cost efficiencies. It will mean eliminating about 5% of Libbey�s global managerial, professional and administrative workforce as �redundancies.� �These are difficult business decisions, and we regret the impact they will have on the affected associates,� said Chief Executive Stephanie Streeter in a statement. An exact number wasn�t disclosed. Libbey�s plan, intended to serve as a road map to to guide the company through 2015, aims to strengthen its core business in glass tableware and tabletop products. �We are taking the necessary steps to ensure Libbey thrives in today�s competitive market,� Streeter said. Among other things, the company will work to cut costs in North America, increase profitability and improve cash generation in Europe, and accelerate growth in China. The company runs glass-tableware production facilities in Louisiana and Ohio as well as in Mexico, China, Portugal and the Netherlands.

/quotes/zigman/9967574/quotes/nls/irg IRG 15.01, +0.02, +0.13%

Also late Wednesday, Ignite Restaurant Group IRG �said it will have to restate previously issued financial statements for 2009, 2010 and 2011 as well as the first quarter of 2012, as a result of errors dating back to 2006 in the accounting treatment of certain leases. The Houston-based company, which went public in May, estimated that, before taxes, the aggregate effect of the restatement items from 2006 through the first quarter of 2012 will range from $3.4 million to $3.8 million, skewing toward 2010 and later because of expansion in its restaurant properties. Restatement adjustments will have the effect of reducing pre-tax income by $1 million to $1.1 million in 2010 as well as $1.3 million to $1.5 million in 2011, according to Ignite Restaurant Group. For the second quarter ended June 18, the company estimated revenue would be about $119.9 million, up 16% from the prior year, as comparable-store sales growth amounted to 3%. But in light of the company�s accounting review of fixed assets, second-quarter results and its 10-Q filing are expected to be delayed.

The board of J. M. Smucker Co. SJM �declared a quarterly of 52 cents a share on common stock, representing an increase of 8%. �This reflects the confidence we have in the long-term growth potential of our business and its ability to generate strong cash flow,� said CEO Richard Smucker in a statement. The new dividend will be paid Sept. 4 to stockholders of record as of Aug. 10, the Orrville, Ohio-based company said.

El Paso Pipeline Partners LP EPB �has now has increased its cash distribution for 17 consecutive quarters, dating back to the Houston-based company�s November 2007 initial public offering. The quarterly cash distribution per common unit now stands at 55 cents, payable Aug. 14 to holders of record as of July 31. It represents increases of 8% from the first quarter and 15% from the year-ago second quarter, according to El Paso Pipeline Partners.

Diana Containerships Inc. DCIX �will put up for sale 8.1 million common shares via a secondary public offering. Among other things, net proceeds will be used for vessel acquisitions, the company said. Underwriters will have a 30-day option to buy as many as 15% in additional shares if needed to satisfy investor demand.

Anthera Pharmaceuticals Inc. ANTH �intends to make an underwritten public offering of an unspecified number of common shares, with net proceeds earmarked for general corporate purposes. The offering is subject to market conditions, the Hayward, Calif.-based company said.

Underwriters fully exercised their option to buy additional shares in connection with the secondary public offering of common stock by Two Harbors Investment Corp. TWO , the New York-based company said. This brought the total size of the offering to 57.5 million shares, yielding net proceeds of about $592 million.

Wednesday earnings recap

Along with reporting second-quarter results, Select Comfort Corp. SCSS �revised its 2012 profit forecast higher. The Minneapolis-based mattress retailer raised its full-year earnings outlook to $1.41 to $1.47 a share on an adjusted basis, up from a prior range of $1.38 to $1.46 a share. In addition, Select Comfort revised the store count it expects to have in operation at year�s end to a range of 408 to 412, from 400 to 410 stores previously.

Read more on results from American Express.

Read more on IBM�s results and outlook.

Read more on Qualcomm�s earnings.

Read more on eBay�s earnings.