After-Hours Movers 6/24: JAZZ, JEF, BBBY, CKR Higher; NKE, PAYX Lower

June 24, 2009 5:33 PM EDT

Jazz Pharmaceuticals, Inc. (Nasdaq: JAZZ) 33% HIGHER; Jazz and UCB announced today positive preliminary top-line results from the second of two Phase III clinical trials of sodium oxybate (JZP-6) for the treatment of fibromyalgia. Confirming the positive results from the first Phase III study, this international, placebo-controlled trial of sodium oxybate to treat fibromyalgia achieved its key endpoints. As in the first randomized, double-blind fibromyalgia study, sodium oxybate significantly decreased pain and fatigue and improved daily function and patient global impression of change. Sodium oxybate has not been evaluated by regulators for the treatment of fibromyalgia and is not approved for this use. Click here for the full report.

Jefferies Group, Inc. (NYSE: JEF) 9.2% HIGHER; sees Q2 net earnings greater than $50 million on sales which are expected to exceed $500 million. The firm expects that Fixed Income and Commodities revenues will exceed the record set in the first quarter of 2009, driven by record quarterly results in the sales and trading of corporate bonds, mortgage- and asset backed securities, rates, municipal bonds and emerging markets debt. In addition, solid contributions are expected from other business lines that make up the firm's full-service diversified platform, including meaningful positive results in High Yield. The firm also expects Investment Banking revenues for the second quarter to exceed $90 million, which would be an increase of 146% vs. first quarter 2009 results.

Bed Bath & Beyond Inc. (Nasdaq: BBBY) 6.5% HIGHER; reports Q1 EPS of $0.34, versus the analyst estimate of $0.25. Revenue for the quarter was $1.69 billion, versus the consensus of $1.68 billion. Same store sales fell 1.6% during the quarter.

CKE Restaurants (NYSE: CKR) 5.2% HIGHER; reports Q1 EPS of $0.29 ex-items, 4 cents better than the analyst estimate of $0.25. Revenue for the quarter was $446.8 million, versus the consensus of $449.53 million.

Nike (NYSE: NKE) 4.4% LOWER; reports Q4 non-GAAP EPS of $0.99, 3 cents better than the analyst estimate of $0.96. Revenue for the quarter was $4.7 billion, versus the consensus of $4.72 billion. Future orders came in at $7.8 billion, 12% lower than during the same quarter last year.

Paychex Inc. (Nasdaq: PAYX) 3.5% LOWER; reports Q4 EPS of $0.32, 2 cents lower than the analyst estimate of $0.34. Revenue for the quarter was $495.93 million, versus the consensus of $510.46 million. Sees FY10 revs down 1-4%, with net income down 10-12%.

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