After-Hours Movers 7/1: DMAN, QSFT, SCMP Higher; LEA, DSCO, ILMN, UNFY, SEPR Lower

July 1, 2009 5:24 PM EDT

Lear Corporation (NYSE: LEA) 36% LOWER; announced today that the Company has reached an agreement in principle regarding a consensual debt restructuring with steering committees representing its secured lenders and its bondholders. The Company plans to commence shortly the proposed restructuring under court supervision pursuant to a voluntary bankruptcy filing under Chapter 11 of the United States Bankruptcy Code by the Company and certain of its U.S. and Canadian subsidiaries. The agreement in principle provides that, subject to certain limited exceptions, Lear's trade creditors will be paid in full.

Discovery Laboratories, Inc. (Nasdaq: DSCO) 33% LOWER; announces today, after receipt of written minutes from the United States FDA, the results of its June 2, 2009 meeting with the FDA. This meeting followed the FDA's April 17 Complete Response Letter for Surfaxin(r) (lucinactant) for the prevention of Respiratory Distress Syndrome in premature infants and was convened to discuss resolution of the remaining primary issue necessary for marketing approval of Surfaxin. Click here for the full report.

Illumina Inc. (Nasdaq: ILMN) 18% LOWER; sees second quarter revenue of approximately $161 million compared to guidance of $168 to $173 million. The Wall Street consensus is $172.55 million. Click here for the full report.

Unify Corp. (NASDAQ: UNFY) 17.3% LOWER; reports Q4 EPS of $0.07, ex-items, compared to $0.08 in the same quarter last year. Revenue for the quarter was $4.6 million, versus $5.1 million in Q408. Sees FY10 sales in the range of $23.5-$28.5 million. Non-GAAP income for the year is expected to be $2-$4.5 million.

Sepracor, Inc. (Nasdaq: SEPR) 15% LOWER; SEP-22528 Fails To Meet Endpoint and Two Lunesta Studies Put On Hold.

DemandTec (Nasdaq: DMAN) 5.1% HIGHER; reports Q1 non-GAAP EPS of $0.00, versus the analyst estimate of ($0.02). Revenue for the quarter was $19.5 million, versus the consensus of $19.44 million.

Quest Software Inc. (NASDAQ: QSFT) 4% HIGHER; will replace Wind River Systems Inc. (NASDAQ: WIND) in the S&P MidCap 400 after the close of trading on a date to be announced.

Sucampo Pharmaceuticals, Inc. (NASDAQ: SCMP) 3.4% HIGHER; Sucampo Pharma Americas, Inc., a wholly owned subsidiary of Sucampo Pharma, today reported top-line results from its phase 2 clinical trial of orally administered cobiprostone for the prevention of gastric ulcers and other gastrointestinal injuries in patients treated with non-steroidal anti-inflammatory drugs. Click here for the full report.

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