After-Hours Movers 7/15: Sun Micro (JAVA) Up on Rosy Outlook, Seagate (STX) Sinks After Results

July 15, 2008 6:07 PM EDT

StreetInsider.com After-Hours Movers:

Orion Energy Systems, Inc. (Nasdaq: OESX) 42% LOWER; sees Q1 revs in the range of $16.1-$16.3 million, versus the consensus of $21.85 million. Given softer than anticipated Q1 revenues, Orion is revising its previously issued FY09 guidance to $101-$103 million, versus the consensus of $119.63 milli

Sun Microsystems, Inc. (NASDAQ: JAVA) 14% HIGHER; expects Q4 revenue for of fiscal 2008 in the range of $3.725 to $3.800 billion, versus consensus estimate of $3.80 billion. On a non-GAAP basis, Sun expects to report net income per diluted share in the range of $0.25 to $0.35 versus analysts' estimate of $0.27.

CB&I (NYSE: CBI) 12% LOWER; will recognize a pre-tax charge of approximately $317 million or $2.38 per share in the second quarter for forecasted cost overruns associated with two major LNG projects in the UK. CB&I updated annual earnings guidance is $0.40 to $0.60 per share, which may not compare to the consensus is $2.41.

Seagate Technology (NYSE: STX) 9% LOWER; reports Q4 EPS of $0.37, which includes a restructuring charge of $0.07, so may not compare to the analyst estimate of $0.42. Revenues for the quarter were $2.9 billion, versus the consensus of $2.89 billion. Sees Q1 EPS of $0.22-$0.26, which may not compare to the consensus of $0.58. Sees Q1 revs of $3.15-$3.3 billion, versus the consensus of $3.23 billion.

CoStar Group (Nasdaq: CSGP) 8% HIGHER; reports Q2 EPS of $0.28, 4 cents better than the analyst estimate of $0.24. Revenues for the quarter were $53.5 million, versus the consensus of $53.78 million. Sees Q3 EPS of $0.28-$0.30, versus the consensus of $0.27.

Altera Corporation (Nasdaq: ALTR) 7.5% HIGHER; reports Q2 EPS of $0.32, 5 cents better than the analyst estimate of $0.27. Revenues for the quarter were $359.9 million, versus the consensus of $346.66 million. Sees Q3 sales unchanged to down 3% sequentially.

Western Digital (NYSE: WDC) 6% LOWER; Lower on results/guidance from rival Seagate Technology.

Spansion (Nasdaq: SPSN) 3.5% LOWER; reports a Q2 loss of $0.63, versus the analyst estimate of ($0.75). Revenues for the quarter were $613 million, versus the consensus of $580.23 million. Sees Q3 revs up slightly from prior quarter. Sees FY08 sales unchanged to slightly up versus 2007.

Furniture Brands International (NYSE: FBN) 2% LOWER; accelerates its strategic plan and revises its 2008 lower to charges and unusually weak economic conditions.

Intel Corporation (Nasdaq: INTC) 1% HIGHER; reports Q2 EPS of $0.28, 3 cents better than the analyst estimate of $0.25. Revenues for the quarter were $9.5 billion, versus the consensus of $9.32 billion. Sees Q3 revs of $10-$10.6 billion, versus the consensus of $10.07 billion.

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