After-Hours Movers 8/12: Longs Drug (LDG) Up On Buyout, Tween Brands (TWB) Down on Loss

August 12, 2008 6:22 PM EDT

StreetInsider.com After-Hours Movers:

Longs Drug Stores (NYSE: LDG) 29% HIGHER; CVS Caremark and Longs Drug Stores entered into a definitive agreement under which CVS Caremark will acquire Longs for $71.50 per share in cash for a total purchase price of $2.9 billion including the assumption of net debt. Shares of Longs closed at $54.04 today.

Tween Brands (NYSE: TWB) 16% LOWER; reports a Q1 loss of $0.27, versus the analyst estimate of ($0.01). Revenues for the quarter were $223.1 million, versus the consensus of $245.11 million. Sees 2H08 EPS in the range of $0.35-$0.65. 2H sales are expected to be in the range of $577-$592 million. Same store sales for the quarter are expected to be down 6-9%. Also, Tween announced that it will convert approximately 560 Limited Too stores across the country to its more value-oriented Justice brand to drive growth and profitability

Rite Aid Corp. (NYSE: RAD) 12.5% HIGHER; Sees interest after CVS/Longs Drug merger

Longtop Financial Technologies (NYSE: LFT) 11% HIGHER; reports Q1 adj-EPS of $0.14, 3 cents better than the analyst estimate of $0.11. Revenues for the quarter were $11.41 million, versus the consensus of $15.26 million. Raises its Q2 sales guidance from $25 million to $26 million, versus the consensus of $25.06 million. EPS for the quarter remain unchanged at $0.25, versus the Street estimate of $0.25. For FY09, Longtop raises its sales guidance from $86 million to $93 million, versus the consensus of $87.18 million. Adj-EPS for the year goes from $0.80 to $0.87, versus $0.81 expected from the Street.

China Fire & Security Group, Inc. (Nasdaq: CFSG) 11% LOWER; reports Q2 non-GAAP EPS of $0.24, 4 cents better than the analyst estimate of $0.20. Revenues for the quarter were $16.7 million, versus the consensus of $16.70 million. Raises its FY08 sales and EPS guidance from $66.6 million to at least $68 million and from $0.78 to $0.84, respectively. The Street estimates are $67.64 million for sales and $0.80 for EPS.

NVIDIA Corporation (Nasdaq: NVDA) 10% HIGHER; reports Q2 EPS of $0.13, ex-items, 1 cent better than the analyst estimate of $0.12. Revenues for the quarter were $892.7 million, versus the consensus of $908.38 million. Raises its buyback by a $1 billion.

Cree Inc. (Nasdaq: CREE) 9% HIGHER; reports Q4 EPS of $0.16, ex-items, versus the analyst estimate of $0.09. Revenues for the quarter were $135.9 million, versus the consensus of $130.92 million. Sees Q1 EPS of $0.13-$0.15, versus the consensus of $0.10 and revs of $138-$142 million, versus the consensus of $136.3 million.

CVS Caremark Corporation (NYSE: CVS) 4% LOWER; Acquires Longs Drug Stores

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