StreetInsider.com After-Hours Movers 05/22

StreetInsider.com After-Hours Movers:

Cypress Bioscience, Inc. (Nasdaq: CYPB) 96% HIGHER; Forest Laboratories and Cypress Bioscience announced that preliminary top-line results from a 1,196 patient randomized, three month, double-blind, placebo-controlled pivotal Phase III study demonstrate statistically significant therapeutic effects of milnacipran as a treatment of fibromyalgia syndrome.

The Stride Rite Corporation (NYSE: SRR) 31.4% HIGHER; Payless ShoeSource, Inc. (NYSE: PSS) and The Stride Rite signed a definitive agreement by which Payless will acquire Stride Rite for $20.50 per share in cash.

Advanced Analogic Technologies (Nasdaq: AATI) 18% HIGHER; has prevailed in a case before the United States International Trade Commission (ITC) that was initiated by Linear Technology Corporation (Nasdaq: LLTC).

Forest Laboratories, Inc. (NYSE: FRX) 7% HIGHER; Forest Laboratories and Cypress Bioscience announced that preliminary top-line results from a 1,196 patient randomized, three month, double-blind, placebo-controlled pivotal Phase III study demonstrate statistically significant therapeutic effects of milnacipran as a treatment of fibromyalgia syndrome.

Analog Devices Inc. (NYSE: ADI) 5% LOWER; reports Q2 GAAP EPS of $0.37, $0.40 non-GAAP, versus the consensus of $0.35. Revenues came in at $669 million versus the consensus of $659 million. Sees Q3 EPS of $0.33-$0.41, versus the consensus of $0.40. Sees Q3 revenues of $655-$658 million versus the consensus of $683.5 million.

Men's Wearhouse Inc. (NYSE: MW) 4% HIGHER; reports Q1 GAAP EPS of $0.75, which may not compare to the consensus of $0.64. Revenues came in at $ versus the consensus of $463.6 million. Sees Q2 EPS of $0.88-$0.92, which may not compare to the consensus of $0.70. Sees FY EPS of $2.84-$2.94, which may not compare to the consensus of $2.85.

ArQule Inc. (Nasdaq: ARQL) 4% LOWER; $100 million mixed securities shelf

Dycom Industries, Inc. (NYSE: DY) 4% HIGHER; reports Q3 non-GAAP EPS of $0.27 (ex-items), in-line with estimates. Revenues were $291.6 million vs. $287.27 million consensus. The Company currently expects revenue from continuing operations for the fourth quarter of fiscal 2007 to range from $295 million to $315 million and diluted earnings per share from continuing operations to range from $0.29 to $0.34, including stock-based compensation expense of approximately $1.5 million on a pre-tax basis. Management believes that discontinued operations will not have a material impact on the quarter. (Q4 revenue consensus is $293.75 million and EPS consensus is $0.30)

Crescent Real Estate Equities Company (NYSE: CEI) INDICATED HIGHER; entered into a definitive agreement pursuant to which funds managed by Morgan Stanley Real Estate will acquire Crescent in an all cash transaction for $22.80 per share and the assumption of liabilities for total consideration of approximately $6.5 billion. Shares of Crescent Real Estate Equities closed at $21.62 today.

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