After-Hours Movers 12/03: Adobe (ADBE) Lower on Guidance; Enzon (ENZN) Up on Debt Pay down

December 3, 2008 6:17 PM EST

StreetInsider.com After-Hours Movers:

Enzon Pharmaceuticals, Inc. (Nasdaq: ENZN) 14% HIGHER; The company's Board of Directors has authorized a "Modified Dutch Auction" tender offer to purchase a portion of its 4% Convertible Senior Notes due 2013. The Company will utilize $100 million of its current cash for the tender. Currently, there is $270.5 million of notes outstanding. The tender offer is expected to commence in the near future.

Collective Brands, Inc. (NYSE: PSS) 10% HIGHER; reports Q3 EPS of $0.42, ex-items, in-line with analyst estimate of $0.42. Revenue for the quarter was $862.7 million, versus the consensus of $840.7 million. Collective Brands Q3 comps down 3.2%.

Intersil Corporation (NASDAQ: ISIL) 10% LOWER; lowers guidance. The company now expects fourth quarter revenue to be between $125 million and $135 million, versus the consensus of $168.3 million. Intersil said Non-GAAP earnings per share are now expected to be between $0.09 and $0.12, versus the consensus of $0.22.

Jo-Ann Stores, Inc. (NYSE: JAS) 10% LOWER; reports Q3 EPS of $0.35, ex-items, 3 cents better than the analyst estimate of $0.32. Revenue for the quarter was $480.1 million, versus the consensus of $495.29 million. Sames store sales fell 1.5% compared to comps that were up 2.4% in the same quarter last year. Lowers its FY09 same store sales estimate from up 2-3.5% to flat for the year. Also cuts FY09 EPS guidance from $0.95-$1.05 to $0.75-$0.85, versus the Street estimate of $1.07.

Adobe Systems (Nasdaq: ADBE) 9% LOWER; Lowers its Q4 sales guidance from $925-$955 to $912-$915 million, versus the consensus of $930.23 million. Raises its Q4 non-GAAP EPS guidance from $0.51-$0.53 to $0.59-$0.60, versus the Street estimate of $0.51. Sees Q1 sales of $800-$850 million, versus the Street estimate of $931.22 million.

Cirrus Logic Inc. (Nasdaq: CRUS) 8% LOWER; now expects revenue for the third quarter of fiscal 2009 to range from $42 million to $45 million, or down 8 percent to 14 percent from the previous year. The Wall Street consensus is $52.9 million.

AeroVironment (Nasdaq: AVAV) 6.8% HIGHER; reports Q3 EPS of $0.41, 14 cent better than the analyst estimate of $0.27. Revenue for the quarter was $65.8 million, versus the consensus of $63.9 million.

Synopsys Inc. (Nasdaq: SNPS) 6% HIGHER; reports Q4 EPS of $0.43, above the consensus of $0.38. Revenues came in at $352.8 million, versus the consensus of $351.1 million. Synopsys sees Q1 EPS of $0.40-$0.42, versus the consensus of $0.40. Sees Q1 revs of $332-$340 million, versus the consensus of $338.1 million. Synopsys sees FY09 EPS of $1.60-$1.72, versus the consensus of $1.66. Sees FY09 revenues of $1.38-$1.41 billion, versus the consensus of $1.34 billion.

Hot Topic, Inc. (Nasdaq: HOTT) 5% HIGHER; November comparable Store sales up 6.5%. Total sales were up 3.7% to $584.4 million.

Xyratex Ltd (Nasdaq: XRTX) INDICATED LOWER; now anticipates revenue for the 2008 fourth quarter to be in the range of $280 to $285 million. This compares to the company's previously announced targets of $287 to $307 million. The Wall Street consensus is $296.5 million.

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