After-Hours Movers 7/8: AA, NTAP, CPKI, WDFC Higher; VRGY, KMT, HOTT, EXAC Lower

July 8, 2009 5:31 PM EDT

Verigy Ltd. (NASDAQ: VRGY) 9.5% LOWER; today updated certain financial guidance for its third fiscal quarter ending July 31, 2009. Revenue for Q3 is expected to increase 10%-25% from the $71 million reported for Q2, which is consistent with prior guidance. As Verigy previously disclosed, the company does not expect Q3 revenue from Touchdown Technologies, which it acquired on June 15, 2009. Also consistent with previous guidance, Verigy expects gross margins to improve from 2-5% percentage points from the 31% level reported for Q2.

Alcoa (NYSE: AA) 7% HIGHER; reports Q2 loss of $0.26, ex-items, 12 cents better than the analyst estimate of ($0.38). Revenue for the quarter was $4.2 billion, versus the consensus of $3.93 billion.

Kennametal Inc. (NYSE: KMT) 6.5% LOWER; announced its intention to offer, subject to market and other conditions, 6,500,000 shares of common stock. In addition, Kennametal expects to grant the underwriters an option for a period of thirty days to purchase up to 975,000 additional shares of common stock. Kennametal intends to use the net proceeds from the offering to pay down outstanding bank debt.

NetApp (NASDAQ: NTAP) 5% HIGHER; announced that it will not revise its proposal to acquire Data Domain (NASDAQ: DDUP) in the wake of EMC's (NYSE: EMC) higher unsolicited offer, and that NetApp and Data Domain have terminated their merger agreement. NetApp confirmed that it has received a $57 million break-up fee from Data Domain as a result of the termination of the agreement.

Hot Topic, Inc. (Nasdaq: HOTT) 4.2% LOWER; said June Comparable Store Sales fell 7.9%. Net sales fell 5.8% to $59.5 milion in June. The company announced that as a result of the lower than expected sales performance quarter-to-date, it now estimates a net loss for the second quarter of 2009 (ending August 1, 2009) in the range of $0.07 to $0.09 per share. The revised guidance reflects a comparable store sales decline in the high-single-digit range for the quarter. The consensus is a loss of $0.05.

California Pizza Kitchen, Inc. (Nasdaq: CPKI) 3.3% HIGHER; increases Q2 earnings guidance to $0.24-$0.25 from $0.18-$0.20. Revenues decreased 3.2% to $170.9 million for the second quarter. The consensus is $0.21 and $172.5 million, respectively.

WD-40 Company (Nasdaq: WDFC) 1.5% HIGHER; reports Q3 EPS of $0.41, 3 cents better than the analyst estimate of $0.38 and compared to $0.49 in the same quarter last year. Revenue for the quarter was $68.8 million, versus the consensus of $69.98 million. Narrows its FY09 sales guidance to $283-$290 million. EPS for the year move to $1.45-$1.55. The Street is currently looking for FY09 sales and EPS of $286.08 million and $1.48, respectively.

Exactech (Nasdaq: EXAC) INDICATED LOWER; lowers its Q2 sales guidance to about $43 million, versus the consensus of $44.76 million. FY09 sales are expected to be $167-$173 million, versus the Street estimate of $177.26 million.

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