Top Winners & Losers After-Hours (CNXT, GNW, LVS, NVTL, TSRA)

Posted in after-hours 
October 29th, 2009

Included is the after-hours moves and pertinent data with a snapshot as of 5:14 PM EST.  Estimates are Thomson Reuters data where noted:

Conexant Systems, Inc. (NASDAQ: CNXT) closed at $2.44 and shares are trading at $2.88 up 18.03% on 67,400 shares since the closing bell. This one posted 0.11 EPS vs. $0.09 estimates; imaging and audio businesses grew 18% on a sequential basis and accounted for 58% of total revenues and is raising guidance.

Genworth Financial Inc. (NYSE: GNW) closed at $10.18 and shares are trading at $11.68 up 14.73% on 2,297,577 shares since the closing bell. This already had a monster up-day of 17% before the close, so anyone who bought yesterday cleaned house.  The company posted $0.24 EPS vs a -$0.02 estimate. Revenues rose 10% to $2.39 billion, but under the $2.52B estimate.  Book value per share grew 10% sequentially to $25.42 per share over the improvement in the markets.

Las Vegas Sands Corp. (NYSE: LVS) closed at $14.76 and is now trading up at $15.99 up 8.33% on 4,810,097 shares since the closing bell.  That is on top of a 12% gain today and because the company beat earnings on cost cuts and announced that it has record pre-booked rooms and has more group rooms already booked for 2010 than it expects for all of 2009.

Novatel Wireless, Inc. (NASDAQ: NVTL) closed at $12.19 and shares are trading at $10.13 down by 16.90% on 661,773 shares since the closing bell.  The company did beat earnings, but issues are there on guidance.  Earnings were $0.20 EPS vs $0.10 EPS estimates; Revenues were up 12.1% to $94.3 million vs. $92.6 million expected.  For Q4 the company sees  $0.04 to $0.12 EPS and revenues of $85 to $95 million versus estimates of $0.10 EPS and $95.69 mln consensus.

Tessera Technologies, Inc. (NASDAQ: TSRA) closed at $26.86 and shares are trading at $22.55 down by 16.05% on 62,124 shares since the closing bell.  Earnings were $0.24 EPS and revenues were up 4% at $66.1 million vs. $0.21 and $65.7 million estimates.  But its Q4 revenue guidance is weak at a range of $60 to $62 million vs $69.9 million expected.

JON C. OGG

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