After-Hours Movers: Traders Hit The Bid at BIDZ.com (BIDZ), Verigy (VRGY) Higher After Strong Results
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StreetInsider.com After-Hours Movers:
BIDZ.com, Inc. (Nasdaq: BIDZ) 21% LOWER; Investors apparently didn't find to much solace from BIDZ.com during its conference call after the close. The company was addressing a negative research report from Citron Research. The stock is off 19% after-hours after losing 28% intra-day. On Monday, Citron Research issued a report questioning the company's online auction business model. BIDZ.com lost 17% yesterday.
Verigy, Ltd. (Nasdaq: VRGY) 20% HIGHER; reports Q4 EPS of $0.58, 8 cents better than estimates. Revenues came in at $209 million, versus the consensus of $200 million. Sees Q1 EPS of $0.49-$0.54, versus the consensus of $0.38. Sees Q1 revs of $195-$205 million, versus the consensus of $180.3 million. Verigy announces a $150 million buyback.
Marvell Technology Group Ltd. (Nasdaq: MRVL) 10% LOWER; reported Q3 EPS of $0.14, 6 cents better than the analyst estimate of $0.08. Revenues for the quarter were $758.2 million, versus the consensus of $710.14 million.
Herman Miller (Nasdaq: MLHR) 7% HIGHER; said order rates have strengthened anticipates sales for the second quarter to be near or slightly above the top end of previous guidance of between $475 million and $500 million. Additionally, the company said it is raising its earnings per share guidance for the quarter to $0.56-$0.63, which excludes a one-time charge of $0.03- $0.05. The consensus is $492.55 million and $0.54, respectively
Semtech (Nasdaq: SMTC) 6.7% LOWER; reported Q3 EPS of $0.29, 7 cents better than the analyst estimate of $0.22. Revenues for the quarter were $78.6 million, versus the consensus of $77.23 million. The Company expects Q4 EPS of $0.24 to $0.25, versus the consensus of $0.23.
Dress Barn (Nasdaq: DBRN) 5% LOWER; reported Q3 EPS of $0.30, 2 cents lower than the analyst estimate of $0.32. Revenues for the quarter were $363.7 million, versus the consensus of $370.31 million. Dress Barn reaffirms its prior guidance. Dress Barn also announced its Board of Directors authorized a $100 million buyback of its common stock.
Wells Fargo & Company (NYSE: WFC) 4.5% LOWER; said it will further tighten its home equity lending standards and record a special fourth quarter 2007 provision of $1.4 billion (pre-tax), largely for higher losses it now expects in certain indirect channels through which it is no longer accepting business.
Acuity Brands (NYSE: AYI) 4% HIGHER; Cramer highlights on Mad Money
Freddie Mac (NYSE: FRE) 1% LOWER; plans to issue $6 billion of non-cumulative perpetual preferred stock. The company has decided to reduce its fourth quarter common stock dividend to $0.25 per share.
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BIDZ.com, Inc. (Nasdaq: BIDZ) 21% LOWER; Investors apparently didn't find to much solace from BIDZ.com during its conference call after the close. The company was addressing a negative research report from Citron Research. The stock is off 19% after-hours after losing 28% intra-day. On Monday, Citron Research issued a report questioning the company's online auction business model. BIDZ.com lost 17% yesterday.
Verigy, Ltd. (Nasdaq: VRGY) 20% HIGHER; reports Q4 EPS of $0.58, 8 cents better than estimates. Revenues came in at $209 million, versus the consensus of $200 million. Sees Q1 EPS of $0.49-$0.54, versus the consensus of $0.38. Sees Q1 revs of $195-$205 million, versus the consensus of $180.3 million. Verigy announces a $150 million buyback.
Marvell Technology Group Ltd. (Nasdaq: MRVL) 10% LOWER; reported Q3 EPS of $0.14, 6 cents better than the analyst estimate of $0.08. Revenues for the quarter were $758.2 million, versus the consensus of $710.14 million.
Herman Miller (Nasdaq: MLHR) 7% HIGHER; said order rates have strengthened anticipates sales for the second quarter to be near or slightly above the top end of previous guidance of between $475 million and $500 million. Additionally, the company said it is raising its earnings per share guidance for the quarter to $0.56-$0.63, which excludes a one-time charge of $0.03- $0.05. The consensus is $492.55 million and $0.54, respectively
Semtech (Nasdaq: SMTC) 6.7% LOWER; reported Q3 EPS of $0.29, 7 cents better than the analyst estimate of $0.22. Revenues for the quarter were $78.6 million, versus the consensus of $77.23 million. The Company expects Q4 EPS of $0.24 to $0.25, versus the consensus of $0.23.
Dress Barn (Nasdaq: DBRN) 5% LOWER; reported Q3 EPS of $0.30, 2 cents lower than the analyst estimate of $0.32. Revenues for the quarter were $363.7 million, versus the consensus of $370.31 million. Dress Barn reaffirms its prior guidance. Dress Barn also announced its Board of Directors authorized a $100 million buyback of its common stock.
Wells Fargo & Company (NYSE: WFC) 4.5% LOWER; said it will further tighten its home equity lending standards and record a special fourth quarter 2007 provision of $1.4 billion (pre-tax), largely for higher losses it now expects in certain indirect channels through which it is no longer accepting business.
Acuity Brands (NYSE: AYI) 4% HIGHER; Cramer highlights on Mad Money
Freddie Mac (NYSE: FRE) 1% LOWER; plans to issue $6 billion of non-cumulative perpetual preferred stock. The company has decided to reduce its fourth quarter common stock dividend to $0.25 per share.
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