After-Hours Movers 9/24: Transmeta (TMTA) Up On Possible Sale; Nike (NKE) Up on Qtr Results

September 24, 2008 6:24 PM EDT

StreetInsider.com After-Hours Movers:

Transmeta Corporation (NASDAQ: TMTA) 20% HIGHER; announced that, with the assistance of its independent financial advisors Piper Jaffray & Co., it has initiated a process to seek a potential sale of the Company. After actively exploring a full range of strategic alternatives over the past few months and after strengthening its balance sheet, Transmeta will now explore a possible sale of the Company as a way to enhance value for all its stockholders. In a separate press release today, the Company announced that it has entered into two agreements with Intel for the licensing of certain Transmeta technologies and intellectual property and for the accelerated payment of its receivables from Intel, which will result in a one-time, non-refundable payment of $91.5 million in the third quarter of 2008.

Fannie Mae (NYSE: FNM) 8% HIGHER; Investors' hope there will be something left over for common shareholders.

Freddie Mac (NYSE: FRE) 7% HIGHER; Investors' hope there will be something left over for common shareholders.

American International Group (NYSE: AIG) 6% HIGHER; recovers some of today's 34% losses.

Nike Inc. (NYSE: NKE) 5% HIGHER; reports Q1 EPS of $1.03, 11 cents better than the analyst estimate of $0.92. Revenues for the quarter were $5.4 billion, versus the consensus of $5.19 billion. Worldwide futures orders up 10%.

Red Hat Inc. (NYSE: RHT) 3% LOWER; reports Q2 EPS of $0.20, 2 cents better than the analyst estimate of $0.18. Revenues for the quarter were $164.4 million, versus the consensus of $163.60 million.

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