After-Hours Movers 10/07: SCSC, HOTT, TGIC, AA, CPKI Higher; LXRX, SVNT Lower

October 7, 2009 5:54 PM EDT

Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) 10.8% LOWER; today announced that it is offering to sell, subject to market and other conditions, 27,500,000 shares of its common stock pursuant to an effective shelf registration statement, of which 16,412,613 shares are being offered through the underwriters and 11,087,387 shares are being offered to Invus, L.P., Lexicon's largest stockholder. Lexicon also intends to grant the underwriters a 30-day option to purchase up to an aggregate of 2,461,892 additional shares of common stock to cover over-allotments, if any.

ScanSource, Inc. (NASDAQ: SCSC) 7.3% HIGHER; sees first quarter revenues in a range of $480 million to $488 million, versus prior guidance of $455-$465 million and the consensus of $450.6 million.

Hot Topic, Inc. (Nasdaq: HOTT) 7.1% HIGHER; reports total sales for the month of September were $59.3 million, down 2.5% from the same period last year. Same store sales fell 4%.

Savient Pharmaceuticals, Inc. (Nasdaq: SVNT) 5.8% LOWER; announced today its intention to commence, subject to market and other conditions, an underwritten public offering of 4,000,000 shares of its common stock pursuant to an effective shelf registration statement on Form S-3. Savient also intends to grant the underwriters a 30-day option to purchase up to an aggregate of 600,000 additional shares of common stock to cover over-allotments, if any. All of the shares in the offering are to be sold by Savient. J.P. Morgan Securities Inc. is acting as sole book-running manager of the proposed offering. Wedbush PacGrow Life Sciences is also acting as a lead manager of the proposed offering.

Triad Guaranty Inc. (Nasdaq: TGIC) 5.6% HIGHER; today announced that it has reached a definitive agreement to sell its information technology and operating platform to Essent Guaranty, Inc. Under the terms of the asset purchase agreement, Essent will acquire all of Triad's proprietary mortgage insurance software and substantially all of the supporting hardware, as well as certain other assets, in exchange for up to $30 million in cash and the assumption by Essent of certain software contractual obligations. $15 million was paid up front, with the remaining $15 million contingent on Essent writing a certain amount of insurance business in the ensuing years.

ALCOA Inc (NYSE: AA) 5.5% HIGHER; reports Q3 EPS of $0.04, cents better than the analyst estimate of ($0.09). Revenue for the quarter was $4.6 billion, which compares to the estimate of $4.55 billion.

California Pizza Kitchen Inc. (Nasdaq: CPKI) 1.6% HIGHER; sees Q3 EPS of $0.22-$0.24, verus prior guidance of $0.19-$0.21 and the consensus of $0.21. Full service comparable restaurant sales decreased approximately 8.0% compared to a 2.4% decrease in the third quarter last year. Revenues decreased 5.3% to $164.8 million for the third quarter ended, versus the consensus of $167.4 million.

Ansys (Nasdaq: ANSS) 1.1% HIGHER; Deutsche upgraded the stock from Hold to Buy, also boosting its price target from $34 to $45.

Ruby Tuesday (NYSE: RT) 1% HIGHER; reports Q1 EPS of $0.11, 2 cents better than the analyst estimate of $0.09. Revenue for the quarter was $300.6 million, which compares to the estimate of $296.89 million. Q3 comps fell 3.1%. Sees FY10 EPS $0.50-$0.60, versus the $0.57 consnesus.

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