During the first quarter, the company repurchased 594,807 shares of its common stock at an average price of $32.37 per share for a total of $19.3 million.

The company reiterated its 2008 expectations for net revenue of between $650 and $670 million, representing growth of between 5% and 8% compared to 2007. The company is targeting a 2008 full-year operating margin of approximately 13%. Net income and earnings per share in 2008 are expected to reflect a full-year effective tax rate between 38% and 42%.

Heidrick & Struggles stock (HSII: chart) fell $4.16 to $32.86.

K-Swiss Inc., an athletic footwear maker reported revenues for the first quarter 2008 were $102.9 million and net income of per share of $0.20.

The company guided second quarter revenue between $70 million and $80 million and earnings per share of 5 cents.

K-Swiss stock (KSWS: chart) fell 65 cents to $14.96.

Martha Stewart Living Omnimedia, Inc., a lifestyle product developer reported first quarter 2008 revenues gain of 2% to $67.8 million compared to $66.7 million for the first quarter of 2007.

Net loss in the quarter was $4.5 million, compared to $12.6 million for the first quarter of 2007 and net loss per share was $ 0.08 compared to $ 0.23 a year ago.

For the second quarter the company expects revenue in the range of $71.5 to $74.5 million and adjusted operating income in the range of $4.5 to $5.0 million.

For the full-year 2008, the company guided revenue $300.0 million, earnings in the range of $9.5 to $14.5 million and adjusted operating income in the range of $23.0 to $28.0 million.

Martha Stewart (MSO: chart) fell 50 cents to $8.00 per share.

The McGraw-Hill Companies, Inc., an information services provider serving the financial services today reported revenue for the first quarter of 2008 declined 6.1% to $1.2 billion.

Net income in the quarter was $81.1 million and diluted earnings per share were $0.25 compared to $0.40 for the same period last year.

McGraw Hill stock (MHP: chart) edged 45 cents higher to $40.84.

TheStreet.com, Inc., financial news and information provider reported total revenue in the first quarter surged 31% to $18.9 million compared to $14.5 million reported a year ago.

Net income decreased 19% to $2.4 million, or $0.07 per fully diluted share compared to $3.0 million, or $0.11 per share, a year ago.

TheStreet.com also took 13% interest in Geezeo, in Web based personal finance management service provider for $1.2 million and the option to purchase the company based on an equity value of $12 million in the next one year.

The Street.com stock (TSCM: chart) fell $1.29 to $8.20.

Valero Energy Corporation, an oil refiner reported net income of $261 million, or $0.48 per share, which includes a pre-tax benefit of $101 million, or $0.12 per share, of business interruption insurance recovery related to the fire at the company's McKee refinery in the first quarter of 2007.

The company's capital spending in the first quarter of 2008 was about $640 million, of which about $100 million was for turnaround expenditures.