After Hours Movers: Electronic Clearing House (ECHO) Higher On Buyout; Herman Miller (MLHR) and Oracle (ORCL) Up on Results

December 19, 2007 6:36 PM EST

StreetInsider.com After Hours Movers:

Electronic Clearing House Inc. (Nasdaq: ECHO) 108% HIGHER; Intuit, Inc. (Nasdaq: INTU) will acquire the company for $17 per share in cash.

Altus Pharmaceuticals Inc. (NASDAQ: ALTU) 19% LOWER; reacquired ALTU-238 development and commercialization rights for North America from Genentech, Inc. Also, the Company announced that the exclusive option granted to Genentech for ALTU-238 development and commercialization outside North America has expired.

Array BioPharma Inc. (NASDAQ: ARRY) 18% LOWER; announced initial results from a randomized Phase 2 study comparing AZD6244 (ARRY-886) monotherapy with temozolomide in the first-line treatment of advanced melanoma. There was no apparent difference in efficacy between AZD6244 and temozolomide for the primary endpoint (Progression Free Survival). Based on the results of this study, AstraZeneca does not plan to progress AZD6244 as a monotherapy into a Phase 3 trial in patients with advanced melanoma at this time, although anti-tumor activity was detected. AstraZeneca is exploring other options to further develop this compound.

Herman Miller (Nasdaq: MLHR) 11% HIGHER; reported Q2 EPS of $0.72, 13 cents better than the analyst estimate of $0.59. Revenues for the quarter were $505.9 million, versus the consensus of $499.83 million. The Company expects Q3 EPS of $0.55 to $0.62, versus the consensus of $0.55. Revenues are expected to be $475-$500 million, versus the consensus of $494 million. Herman Miller also announced that its Board of Directors has authorized a $200 million accelerated stock buyback.

Oracle (Nasdaq: ORCL) 6.4% HIGHER; reported Q2 EPS of $0.31, 4 cents better than the analyst estimate of $0.27. Revenues for the quarter were $5.3 billion, versus the consensus of $5.04 billion.

Leggett & Platt (NYSE: LEG) 5% LOWER; Sees 4Q EPS guidance of $.09-.13, excluding impairments. The Wall Street consensus is $0.30.

Indevus Pharmaceuticals, Inc. (Nasdaq: IDEV) 5% LOWER; received a non-approvable letter from the FDA for VALSTAR related to its chemistry, manufacturing and controls NDA supplement submitted to the FDA in May 2007.

LDK Solar Co., Ltd. (NYSE: LDK) 5% LOWER; reported Q3 EPS of $0.37, in line with analyst estimate of $0.37. Revenues for the quarter were $157 million, versus the consensus of $143.22 million. Q4 earnings guidance $0.40-$0.41 versus $0.41. Revenues for Q4 $180-$185 million versus consensus of $167.5 million.

Accenture (NYSE: ACN) 4.3% HIGHER; Reported Q1 EPS of $0.60, 4 cents better than the analyst estimate of $0.56. Revenues for the quarter were $5.67 billion, versus the consensus of $5.46 billion. Q2 revenues to be $5.5-$5.7 billion, consensus is $5.3 billion.

Steelcase Inc. (NYSE: SCS) 4% HIGHER; reported Q3 EPS of $0.30, 2 cents better than the analyst estimate of $0.28. Revenues for the quarter were $885.9 million, versus the consensus of $836.27 million. Steelcase declares $1.75 shares special dividend. Steelcase boosts buyback by $250 million shares.

Smart Modular Technologies (Nasdaq: SMOD) 3.7% HIGHER; reported Q1 EPS of $0.18, 1 cent better than the analyst estimate of $0.17. Revenues for the quarter were $175 million, versus the consensus of $171.49 million. Sees Q2 revenues of $175 to $185 million, versus the consensus of $178.7 million. EPS are expected to be $0.18 to $0.19, versus the consensus of $0.19.

Activision, Inc. (Nasdaq: ATVI) 3.5% HIGHER; raises Q3 guidance. Activision expects record net revenues of $1.375 billion and earnings per diluted share of $0.76, an increase from the company’s prior net revenues outlook of $1.225 billion and earnings outlook of $0.66 per diluted share. The consensus is $1.21 billion and $0.69.

Nike (NYSE: NKE) 3% HIGHER; reported Q3 EPS of $0.71, 5 cents better than the analyst estimate of $0.66. Revenues for the quarter were $4.3 billion, versus the consensus of $4.21 billion.

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