After-Hours Movers 12/09: Genworth (GNW) Up On Bank Purchase; Electronic Arts (ERTS) Lower On Guidance

December 9, 2008 6:11 PM EST

StreetInsider.com After-Hours Movers:

Genworth Financial (NYSE: GNW) 13% HIGHER; reached a definitive agreement with respect to the acquisition of InterBank, fsb of Maple Grove, Minnesota. The completion of the proposed acquisition is subject to the approval of the Office of Thrift Supervision (OTS), Genworth receiving approval to participate in the U.S. Treasury Department's Capital Purchase Program (CPP) under the Troubled Asset Relief Program (TARP), as well as the satisfaction of other customary closing conditions

Electronic Arts (NASDAQ: ERTS) 10% LOWER; today announced that it expects net revenue and EPS for FY09 to be below the financial guidance previously provided on October 30, 2008. The revised expectations are primarily the result of lower than expected sales across North America and Europe. The Company does not expect to provide updated financial guidance for FY09 prior to reporting its Q3 results in early February 2009. The Company is continuing to pursue cost saving initiatives including a reduction of its product portfolio for FY10 with additional associated headcount reductions and facility consolidations.

Cavium Networks (NASDAQ: CAVM) 8% LOWER; today announced that business in Q408 will be below the company's previous outlook. Sees Q4 sales about 10% below Q3 sales of $24.5 million. Gross margins during Q4 are expected to be 2-3% lower than previously expected, due to the lower sales and changes in product mix.

Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) 7% LOWER; today announced preliminary data from a Phase 2b clinical trial of APD125 measuring subjective endpoints in patients with primary insomnia. The initial data analysis indicates that APD125 did not meet the trial's primary or secondary endpoints. Treatment with APD125 was well tolerated, and there were no reports of serious adverse events and no emerging safety findings as compared to placebo. Arena is finishing a complete analysis of the data, but does not anticipate any further development of APD125.

Focus Media Holding Ltd. (Nasdaq: FMCN) 6% LOWER; Announces the Restructuring of its In-store Advertising Unit and Terminating of its Remaining Wireless Advertising Business

G-III Apparel Group (Nasdaq: GIII) 4.7% HIGHER; reports Q3 EPS of $1.68, 1 cent better than the analyst estimate of $1.67. Revenue for the quarter was $351.6 million, versus the consensus of $338.34 million. G-III Apparel Group expects FY09 EPS $0.95 to $1.05 versus previous guidance of $1.35-$1.40 and consensus of $1.27. G-III Apparel Group sees FY09 revenue approximately $715 million versus previous guidance of $730 million and consensus of $707.15 million.

LTX Corporation (Nasdaq: LTXC) 2.7% LOWER; reports Q1 loss of $0.13, ex-items, in-line with the analyst estimate of ($0.13). Revenue for the quarter was $47.13 million, versus the consensus of $53.43 million. Sees Q2 sales of $37-$42 million, versus the consensus of $67.40 million. Sees Q2 non-GAAP loss of $0.22-$0.19, versus the Street estimate of ($0.09).

ADC (Nasdaq: ADCT) 1.6% HIGHER; reports Q4 EPS of $0.19, 6 cents better than the analyst estimate of $0.13. Revenue for the quarter was $352 million, versus the consensus of $347.02 million. ADC sees Q1 loss between $0.05 to $0.17 versus consensus of $0.09. ADC sees Q1 revenue $255M-$290M versus consensus of $316.79 million.

NightHawk Radiology (Nasdaq: NHWK) INDICATED HIGHER; confirmed the company's annual guidance of $165 to $168 million in revenue and adjusted earnings of $0.64 to $0.67 per diluted share for the year ended December 31, 2008. (FY revenue consensus is $166.59M and $0.66). The company also announced today that it intends to initiate its previously authorized share repurchase program to purchase up to $10 million of its common stock.

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