(EMAILWIRE.COM, August 27, 2010 ) Dallas, Tx - J. Crew Group, Inc. (NYSE:JCG) shares slumped in after hours after the company provided the third quarter and full year , that were the Wall Street’s expectations, citing "nervous" shoppers and promotions by competitors.

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For the Current fiscal year, the stock has reduced the EPS outlook by 10 cents to a range of $2.25 - $2.35 per share, its earlier guidance range was $2.35 to $2.45. Analysts currently expects $2.46 a share.

In its Q2, J Crew reported that its profit soared 88%to $34.9 million, or 53 cents a share, from $18.6 million, or 29 cents a share, a year earlier. Excluding a benefit for recognition of forfeited share-based compensation for a recently resigned executive, the company earned 50 cents per share, above the 46 cents per share expected.

Revenue grew 14%in the quarter to $407.5 million, fueled by an 11% same-store sales rise. J Crew's catalog and Web business rose 1%.

Novell, Inc. (NASDAQ:NOVL) late Thursday reported lower than estimated third quarter earnings. The company said it earned o $15.7 million, or 4 cents per share, from $16.7 million, or 5 cents per share, a year earlier. Excluding items, it earned 6 cents a share, missing the analysts’ estimates of 7 cents a share.
Revenue slid 8%to $199 million, above the analysts’ estimates of revenue of $200.2 million.

Earlier this month, Novell had slashed its revenue outlook for the quarter to $197-$199 million due to customer uncertainty surrounding its plan to explore strategic alternatives, including a sale of the company.

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Twist remains for the shareholders of 3PAR Inc. (NYSE:PAR) as HP (NYSE: HPQ) late Thursday announced that it has increased its proposal to acquire all of the outstanding shares of 3PAR Inc. (NYSE: PAR) to $27.00 per share in cash, or an enterprise value of $1.8 billion. This came within less than 24 hours when Dell Inc. raised its bid pride to $24.30 a share.

However, 3Par said Thursday morning that it has agreed to Dell's latest offer, which includes a $72 million termination fee.
SonoSite, Inc. (NASDAQ:SONO) late Thursday said that it received FDA clearance for its innovative LumenVu Catheter Guidance System. Designed to aid in the placement of peripherally inserted central catheters, the proprietary LumenVu System combines near-infrared technology with a revolutionary fiber optic stylet, which replaces a traditional guide wire, to allow visualization and real-time tracking of a catheter tip as it advances through a vein.

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