After-Hours Movers 01/03: (TIVO) (MBI) (LNDC) Higher; (APKT) (BMTI) (PRGS) (NATI) Lower

January 3, 2012 5:48 PM EST Send to a Friend
Acme Packet (Nasdaq: APKT) 16.5% LOWER; sees Q4 adj-EPS 26-28c, vs. the consensus of 37 cents, sales $84-$86 million, vs. the consensus of $93.4 million. Cut its FY11 adj-EPS guidance from $1.14-$1.18 to $1.03-$1.05 and sales from $315-$320 million to $308-$310 million.

TiVo Inc. (Nasdaq: TIVO) 13.8% HIGHER; announced today that it has settled its pending patent litigation with AT&T (NYSE: T) and that the companies have entered into a mutual patent licensing arrangement. Under the terms of the settlement, AT&T agreed to pay TiVo an initial payment of $51 million, followed by recurring quarterly guaranteed payments through June 2018, totaling $164 million, which together yield minimum payments of $215 million. In addition to these minimum payments, AT&T will pay incremental recurring per subscriber monthly license fees through July 2018 should AT&T's DVR subscriber base exceed certain levels. As part of the settlement, TiVo and AT&T agreed to dismiss all pending litigation between the companies with prejudice.

BioMimetic Therapeutics, Inc. (Nasdaq: BMTI) 10.2% LOWER; shares are slumping in after-hours trading, following reports that the FDA would need more information needed for approval of its Pre-Market Approval application for Augment Bone Graft for use as an alternative to autograft in hindfoot and ankle fusion procedures.

Progress Software Corp (NASDAQ: PRGS) 7.7% LOWER; reported Q4 EPS of $0.34, versus the analyst estimate of $0.33. Revenue for the quarter came in at $136.3 million versus the consensus estimate of $133.44 million. Sees Q1 2012 EPS of $0.25, versus the consensus of $0.38. Sees Q1 2012 revenue of $120 million, versus the consensus of $132.04 million.

National Instruments (Nasdaq: NATI) 5.6% LOWER; sees Q4 adj-EPS 26-27c, vs. cons. 28c, sales $277M, vs. cons. $292.4M. Click here to see the full report.

MBIA (NYSE: MBI) 5.5% HIGHER; shares on the move as the company won a summary judgement decision against Countrywide.

Landec Corp (NASDAQ: LNDC) 4.8% HIGHER; reported Q2 EPS of $0.13, versus $0.08 reported last year. Revenue for the quarter came in at $81.6 million versus the consensus estimate of $73.73 million. Sees Q3, Q4 net income about same as Q2. Sees 2H sales about 5-10 percent lowered compared to the first half.

Team, Inc. (NASDAQ: TISI) 3.5% HIGHER; reported Q2 EPS of $0.53, $0.04 better than the analyst estimate of $0.49. Revenue for the quarter came in at $158.3 million versus the consensus estimate of $154.1 million.

Arena Pharma (Nasdaq: ARNA) 2.8% HIGHER; submits its response to the CRL issued by the US FDA following review of the lorcaserin NDA. Lorcaserin is intended for weight management, including weight loss and maintenance of weight loss, in patients who are obese (Body Mass Index, or BMI, >30) or patients who are overweight (BMI >27) and have at least one weight-related co-morbid condition. The companies expect that later this month the FDA will confirm acceptance of the response and assign a new PDUFA date.

Eastman Kodak Company (NYSE: EK) 2.1% LOWER; has received a continued listing standards notice from the New York Stock Exchange because the average closing price of the Company's common stock was less than $1.00 per share over a period of 30 consecutive trading days.


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