After-Hours Movers 9/23: RHT Higher; HERO, PPS, CNXT, ARE, WR, PAYX, BBBY, ERTS Lower

September 23, 2009 5:30 PM EDT

Hercules Offshore (Nasdaq: HERO) 10% LOWER; announced it'd sell 17.5 million shares in the public market. Additionally, the stock is taking a hit because it currently anticipates Q3 revenues to be approximately $155 million to $160 million versus the consensus view of $166.98 million.

Red Hat, Inc. (NYSE: RHT) 6.4% HIGHER; reports Q2 EPS of $0.20, 5 cents better than the analyst estimate of $0.15. Revenue for the quarter was $183.6 million, which compares to the estimate of $179.10 million.

Post Properties, Inc. (NYSE: PPS) 5.5% LOWER; announced tody that it has commenced a public offering of 3,000,000 shares of its common stock. In connection with the offering, the underwriters will be granted a 30-day option to purchase up to 450,000 additional shares of common stock to cover overallotments, if any. The Company intends to use the net proceeds from the offering to repay approximately $39.4 million of existing mortgage indebtedness secured by the Company's Post Fallsgrove property and for an approximately $4.0 million prepayment penalty in connection with the repayment of the Fallsgrove indebtedness.

Conexant Systems, Inc. (NASDAQ: CNXT) 5.5% LOWER; today announced that it intends to offer to sell, subject to market and other conditions, 7 million shares of its common stock in an underwritten public offering. Conexant intends to grant the underwriter a 30-day option to purchase up to 1.05 million additional shares to cover over-allotments, if any. Oppenheimer & Co. Inc. is the sole underwriter for the offering.

Alexandria Real Estate Equities, Inc. (NYSE: ARE) 4.7% LOWER; announced today that it is commencing an underwritten public offering of 3,000,000 shares of common stock. Barclays Capital, Credit Suisse and UBS Investment Bank are acting as joint bookrunning managers in connection with the public offering. Alexandria Real Estate Equities, Inc. expects to grant the underwriters a thirty-day option to purchase up to 450,000 additional shares to cover over-allotments, if any.

Westar Energy (NYSE: WR) 4.4% LOWER; lowers its FY09 EPS guidance from $1.65-$1.90 to $1.35-$1.45, which compares to the Street estimate of $1.71. The firm cited the coolest summer in more than 40 years, saying that Q3 EPS were affected by $0.15-$0.20. Westar also said it will eliminate or reassign 21 employees.

Paychex (Nasdaq: PAYX) 2.5% LOWER; reports Q1 EPS of $0.34, inline with the analyst estimate of $0.34. Revenue for the quarter was $500.2 million, which compares to the estimate of $502.91 million. Sees FY10 sales down 2-5% and EPS down 10-12%.

Bed Bath & Beyond Inc. (Nasdaq: BBBY) 2.2% LOWER; reports Q2 EPS of $0.52, 4 cents better than the analyst estimate of $0.48. Revenue for the quarter was $1.91 billion, which compares to the estimate of $1.90 billion. Same store sales fell 0.6%.

Electronic Arts (Nasdaq: ERTS) 2% LOWER; a Microsoft spokesperson says the company has no plans to buy EA.

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