After-Hours Movers 5/20: DDUP, WSTL, DISK, CTRN, CSC, INTU, LTD Higher; HOTT, SHO, CEPH, NTAP Lower

May 20, 2009 5:23 PM EDT

Data Domain (Nasdaq: DDUP) 35.5% HIGHER; to be acquired by NetApp for $25 per share.

Westell Technologies (Nasdaq: WSTL) 11.7% HIGHER; reports Q4 loss of $0.01, ex-items, versus the analyst estimate of ($0.04). Revenue for the quarter was $56.3 million, versus the consensus of $50 million.

Hot Topic (Nasdaq: HOTT) 10.6% LOWER; reports Q1 EPS of $0.03, 1 cent better than the analyst estimate of $0.02. Revenue for the quarter was $175.1 million, versus the consensus of $174.73 million. Sees Q2 loss of $0.04-$0.06, versus the consensus looking for a profit of $0.01. Sees Q2 comps sales down mid single digit percentage.

Sunstone Hotel Investors, Inc. (NYSE: SHO) 10.3% LOWER; intends to issue 18,000,000 shares of its common stock. The underwriters will be granted a 30-day option to purchase up to an additional 2,700,000 shares of common stock to cover over-allotments, if any. The Company expects to contribute the net proceeds from this offering to Sunstone Hotel Partnership, LLC, its wholly owned subsidiary, in exchange for additional membership interests in the Operating Partnership.

Image Entertainment, Inc. (NASDAQ: DISK) 8.6% HIGHER; retained Houlihan Lokey Howard & Zukin Capital, Inc. as the Company's exclusive financial advisor. They will assist the Company in analyzing a wide range of strategic alternatives, including potential financing or sale transactions. Image Entertainment gave no assurance that a transaction of any kind will occur.

Citi Trends, Inc. (Nasdaq: CTRN) 8.3% HIGHER; reports Q1 EPS of $0.54, 9 cents better than the analyst estimate of $0.45. Revenue for the quarter was $143.1 million, versus the consensus of $141.83 million. Citi Trends sees FY09 EPS of a $1.33 versus consensus of a $1.30.

Computer Sciences Corporation (NYSE: CSC) 5.4% HIGHER; reports Q4 EPS of $2.51, versus the analyst estimate of $1.47 and up 70.7% from the $1.15 reported in the same quarter last year. Revenue for the quarter was $4.11 billion, versus the consensus of $4.20 billion. Sees FY10 sales of $16-$16.5 billion, versus the consensus of $16.44 billion, with EPS in the range of $4.20-$4.30, versus the Street estimate of $4.08.

Cephalon, Inc. (Nasdaq: CEPH) 3.9% LOWER; intends to offer, subject to market and other conditions, $300 million of common stock and $350 million in aggregate principal amount of convertible senior subordinated notes due 2014 through two concurrent public offerings. Cephalon will grant the underwriters a 30-day option, solely to cover over-allotments, to purchase up to an additional $45 million of common stock, with respect to the common stock offering, and to purchase up to an additional $52.5 million in aggregate principal amount of the notes, with respect to the notes offering. Cephalon intends to use a portion of the net proceeds of the notes offering to enter into a hedging transaction on its common stock with Deutsche Bank AG, London Branch, an affiliate of the representative of the underwriters.

Intuit (Nasdaq: INTU) 3% HIGHER; reports Q3 EPS of $1.68, 7 cents better than the analyst estimate of $1.61. Revenue for the quarter was $1.43 billion, versus the consensus of $1.42 billion. Sees FY09 EPS $1.78 to $1.82 versus $1.8 consensus. Sees FY09 revenue $3.155B to $3.185B versus $3.16 billion.

NetApp (NASDAQ: NTAP) 2.9% LOWER; reports Q4 EPS of $0.31, 8 cents better than the analyst estimate of $0.23. Revenue for the quarter was $880 million, versus the consensus of $856.48 million. Also said it will acquire Data Domain (Nasdaq: DDUP) for $25/share.

Limited Brands (NYSE: LTD) 2.8% HIGHER; reports Q1 earnings of $0.01, 4 cents better than the analyst estimate of ($0.03). Revenue for the quarter was $1.73 billion, versus the consensus of $1.75 billion. Limited Brands sees Q2 EPS of $0.11-$0.16, versus the consensus of $0.11. Limited Brands sees FY EPS of $0.67-$0.87, versus the consensus of $0.74.

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