After-Hours Movers 6/1: NAVR, DDUP Higher; MTZ, DCT, ICON, LGF, HIW, AXP Lower

June 1, 2009 5:27 PM EDT

Navarre (Nasdaq: NAVR) 32% HIGHER; reports Q4 GAAP EPS of $0.09, versus the analyst estimate of $0.00. Revenue for the quarter was $147.1 million, versus the consensus of $129.23 million. Sees FY10 sales of $550-$600 million, versus the consensus of $613.13 million.

Data Domain, Inc. (Nasdaq: DDUP) 17.2% HIGHER; EMC Corporation (NYSE: EMC) proposed to acquire all of the outstanding common stock of Data Domain for $30.00 per share in cash, in a transaction with a total enterprise value of approximately $1.8 billion, net of Data Domain's cash. EMC's all-cash offer represents a 20% premium to the cash and stock offer made by NetApp for Data Domain on May 20, 2009.

MasTec, Inc. (NYSE: MTZ) 7% LOWER; will offer approximately $100,000,000 aggregate principal amount of convertible senior notes in a registered public offering. In addition, MasTec has granted to the underwriters an option to purchase up to an additional $15,000,000 aggregate principal amount of the convertible notes. The convertible notes will be convertible, under certain circumstances, into shares of MasTec common stock. Concurrently, certain shareholders will offer 4 million shares of MasTec common stock in an underwritten registered public offering. All of the shares are being offered by Jon Wanzek, founder and CEO of Wanzek Construction, Inc., and his affiliates. Click here for the full report.

DCT Industrial Trust Inc. (NYSE: DCT) 6.5% LOWER; announced today that it has commenced a public offering of 22,500,000 shares of common stock. In addition, the Company expects to grant to the underwriters for the public offering an option for 30 days to purchase up to 3,375,000 additional shares of common stock to cover overallotments, if any. Merrill Lynch & Co., J.P. Morgan and Wachovia Securities will serve as e joint book-running managers for the offering. The Company plans to use the net proceeds from the offering for general corporate purposes, which may include the repayment of debt.

Iconix Brand Group, Inc. (Nasdaq: ICON) 6% LOWER; today announced that it has filed a shelf registration statement with the SEC for a proposed follow-on public offering of shares of its common stock for the Company and certain of its stockholders. Iconix expects that it will offer approximately 9.2 million shares of the Company's common stock and the selling stockholders will offer 800,000 shares. Click here for the full report.

Lions Gate Entertainment (NYSE: LGF) 4.4% LOWER; reports FY09 loss of $1.40, versus the analyst estimate of ($1.27). Revenue for the year was $1.47 billion, versus the consensus of $1.45 billion, with Q4 sales of $463.2 million, versus the consensus of $445.62 million.

Highwoods Properties, Inc. (NYSE: HIW) 3% LOWER; today announced that it has completed a public offering of 7,015,000 shares of common stock at a price per share of $21.50, including 915,000 shares issued and sold upon the full exercise of the underwriters' over-allotment option. The net proceeds to the Company from the offering, after deducting underwriting commissions and discounts and offering expenses, were approximately $143.9 million. The Company used the net proceeds from the offering to repay debt and for general corporate purposes. As a result of the equity offering, recently completed dispositions and anticipated debt financing activities, the Company has updated its 2009 FFO guidance, from $2.53-$2.72 to $2.43-$2.58. The Street is currently expecting FY09 FFO of $2.61.

American Express (NYSE: AXP) INDICATED LOWER; announced that it has commenced a public offering of $500 million of its common stock for sale to the public. American Express will also grant the underwriters a 30-day option to purchase up to an additional $75 million of its common stock. The company will use the capital raised through the equity offering for general corporate purposes which may include, subject to regulatory approval, the partial funding of a repurchase of $3.4 billion of preferred shares issued to the U.S. Treasury as part of the Capital Purchase Program.

EXFO Electro-Optical Engineering Inc. (NASDAQ: EXFO) INDICATED LOWER; lowers its Q3 GAAP earnings guidance from $0.01-$0.05 to a loss of $0.06-$0.07, versus the consensus looking for a gain of $0.05. Sales for the quarter are expected to be $43-$44 million, versus the consensus of $46.87 million.

Brookdale Senior Living Inc. (NYSE: BKD) INDICATED LOWER; plans to raise $150 million in a public offering of its common stock. The Company expects to grant the underwriters an option for 30 days to purchase up to an additional $22.5 million of its common stock to cover over-allotments, if any. Goldman, Sachs & Co., Merrill Lynch & Co. and Barclays Capital Inc. will serve as Joint Book-Running Managers for the offering.

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• JPMorgan
• Merrill Lynch
• Wachovia
• Barclays
• After-Hours Movers
• Treasury Capital Purchase Program

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