Magma Design Automation

(LAVA)

lowered its fourth quarter revenue estimate to a range of $34.5 million to $35.5 million. The company expects a quarterly loss of 10 cents to 14 cents a share, compared to its previous earnings forecast of breakeven to 4 cents a share. The stock was down $1.98, or 18.27%, to $8.86 in after-hours trading.

Blue Coat Systems

(BCSI)

said that the

Securities and Exchange Commission

is conducting a formal, non-public investigation into potential insider trading activities. The company said it is cooperating with the SEC but noted that the costs of the investigation or an adverse result could hurt the company's operating results and financial condition. The stock was down $3.64, or 15%, to $20.60 in after-hours trading.

Suncor Energy

(SU) - Get Report

said production at its oil sands facility in March averaged 137,000 barrels per day, including 19,000 barrels of in-situ bitumen production. Suncor said production for March was reduced because of a fire that occurred at a facility, but said it plans to return to full production during the third quarter. The stock was unchanged at $40.04.

Darden Restaurants

(DRI) - Get Report

announced that March same store sales for Olive Garden were up 9% to 10%, while Red Lobster same store sales rose 3% to 4%. The stock was unchanged at $31.

Meritage Homes

(MTH) - Get Report

said that first quarter new home orders rose 49% to $881 million, while closing revenue rose 30% to $551 million and order backlog grew by 98% to $1.8 million. The rise in the dollar value of sales orders was led by 96% growth in Nevada and 80% growth in California, the company said. Excluding a one time charge, the company expects to earn $1.20 to $1.25 a share, for the quarter, up from its previous estimate of $1.10 to $1.15 a share. The stock was up 62 cents, or 1.02%, to $61.13 in after-hours trading.