Longs Catch A Good Look Off Blue Coat's After Hours Earnings

| About: Blue Coat (BCSI)

Blue Coat Systems (NASDAQ:BCSI) is due with its Q2 results in tonight's after hours, and analysts polled by Thomson Reuters expect the company to report a profit of $0.13 per share on revenue of $106 million.

BCSI has seen more aggressive follow-on regular session closing levels following 18 of its last 30 after hours earnings events.

Looking deeper into the data, longs take note: BCSI has posted earnings-driven gains after 12 evening earnings reports. It has extended that move 10 times, or 83% of the time.

On the short side, of the 18 post-earnings extended-hours declines, BCSI has extended its move eight times, or 44% of the time, during next-day trading.

  • On Aug. 16, 2011, BCSI slumped 15.7% in after-hours trading after missing Q1 expectations and appointing a new CEO. The stock cratered further in the red the next day, closing the Aug. 17 regular session off 24.7%.
  • On May 26, 2011, BCSI slumped 7.5% in evening trading after missing on Q4 and setting its Q1 guidance below the Street view. The stock reversed direction the following day, ending the May 27 regular session up 0.2%.
  • On Feb. 17, 2011, BCSI shed 9% in after-hours trading after missing Q3 expectations and setting Q4 guidance below Street estimates. The stock cut its downside the following day, closing the Feb. 18 regular session down 7.5%.
  • On Nov. 18, 2010, BCSI declined 2.3% in evening trading after meeting Q2 revenue estimates, beating on EPS and setting its Q3 EPS guidance below the Street view. The stock cut its downside the next day, closing the Nov. 19 regular session down 1.7%.
  • On Aug. 19, 2010, the stock fell 6.3% after disappointing with guidance. Shares fell 7.7% the next day.
  • On May 27, 2010, BCSI tumbled 16.7% despite meeting Q4 estimates. The company offered mostly weaker-than-expected Q1 guidance. The following day, sellers descended on the stock, sending the shares down 25.5% by the end of the regular session.
  • On Feb. 23, 2010, BCSI declined 2.2% in after-hours trading after beating Q3 expectations and setting its Q4 guidance in a range that straddled the Street view. The stock reversed direction the following day, closing the Feb. 24 regular session up 1.6%.
  • On Nov. 24, 2009, the stock edged up 0.6% in evening hours after the company met with revenue and beat by a penny with EPS. Shares rose a stronger 6.2% the next day.
  • On Aug. 25, 2009, BCSI advanced 6.2% in after-hours trading after the company beat earnings expectations and set guidance that straddled the Street view. The stock headed higher the following day, rising 13.2% by the closing bell on Aug. 26.
  • On June 2, 2009, the stock fell 4.9% in evening trading after BCSI met with revenue but missed with earnings and guided in line. The stock recovered to post a narrow 0.2% gain the next day.
  • On Feb. 26, 2009, BCSI advanced 9.9% in after-hours trading after topping Q3 expectations and issuing guidance that straddled the Street mean. The stock soared higher the following day, rising 16% by the regular session close on Feb. 27.
  • On Nov. 25, 2008, BCSI topped Q2 expectations but set its guidance below the Street view. The stock declined 1.1% in after-hours trading, and followed that move with a 5.8% slide in the Nov. 26 regular session.
  • On Aug. 21, 2008, BCSI advanced 4.5% in after-hours trading after reporting results and guidance in-line with expectations. The stock soared higher the next day, rising 19.6% by the closing bell on Aug. 22.
  • On May 22, 2008, BCSI plummeted 25.5% in pre-market trading after reporting Q4 results below expectations. It narrowed that decline in the May 22 regular session, closing down 20.1%.
  • On Feb. 21, 2008, BCSI jumped 8.7% in pre-market trading after beating on Q3 and setting its Q4 guidance above Street estimates. That gain evaporated in the regular session, and BCSI tumbled 9.3% by the closing bell.
  • On Nov. 20, 2007, the stock jumped 18.4% during pre-market trading after reporting ahead of the Street with Q2 and guiding for Q3 to beat. The gain was pared to 12.7% the next day.
  • On Aug. 22, 2007, BCSI soared 13.4% in pre-market trading after the company topped Q1 expectations and set its guidance above the Street. The stock added to its gains in the regular session, rising 29.1% by the closing bell.
  • On May 29, 2007, BCSI gained 2.1% in after hours when the company beat Q4 and FY expectations and guided Q1 sales above Street views. Shares rose further the next day, closing the regular session up 5.7%.
  • On March 8, 2007, BCSI rose 5.7% in night trading after topping Q3 sales estimates and guiding for higher revenues. Shares jumped higher the next day, ending the regular session up 11.7%.
  • On Nov. 20, 2006, the stock fell 3.9% in the evening session after a revenue miss. The stock was down 2.6% the next day.
  • On Aug. 16, 2006, BCSI slipped 3.8% in evening trading after meeting Q1 sales forecasts but guiding Q2 below Street views. The shares, though, rebounded strongly the next day, closing the regular session up 14.9%.
  • On May 24, 2006, BCSI shed 16.1% in after-hours trading after the company missed earnings expectations and guided its forward view below the Street view. The stock slid deeper in the red on May 25, losing 20% by the closing bell.
  • On February 14, 2006, BCSI dropped 18.2% in night trading after missing Q3 estimates and forecasting lower-than-expected Q4 sales. The shares tumbled further the next day, ending the regular session down 22.1%.
  • On Nov. 15, 2005, shares of BCSI tanked 19% after hours when it missed with Q2 revs and guided lower than the Street for Q3 revs. Shares fell a nearly equally deep 18.9% the next day.
  • On August 16, 2005 BCSI soared 12.1% in after-hours trading after the company topped Q1 estimates and guided Q2 earnings expectations above the Street view. Buyers flocked to the issue on August 17, muscling it up 25.3% by the closing bell.
  • BCSI jumped 19.2% the night of June 2, 2005 after the company beat expectations and guided higher. It firmed even higher the following day, rising 25.3% by the June 3 closing bell.
  • On Feb. 24, 2005 BCSI lost 9.7% in night trading after the company beat estimates and guided in-line. It tumbled 17.2% by the Feb. 25 close.
  • On Nov. 18, 2004 BCSI was hammered for a 12.2% drop in after-hours trading after the company beat on revenue, posted in-line EPS and set its guidance below the Street view. It lost a more aggressive 13.3% by the Nov. 19 regular session end.
  • Back on Aug. 19, 2004 BCSI slid 9.4% in evening trading after meeting expectations but guiding lower. In its lone instance of narrowing in the last year BCSI cut its decline to a 7.7% drop by day's end on Aug. 20.
  • Finally, on May 27, 2004 BCSI was crushed for a 21.6% decline after missing earnings expectations and guiding below the Street view. Traders punished the issue deeper into the red on May 28, pinning it for a 29.1% decline by the closing bell.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.