OmniVision reported an adjusted EPS of 84 cents, a full 26 cents ahead of estimates. The company also forecast revenues for the current quarter ahead of estimates. Analysts at JPMorgan upgraded the stock to overweight from neutral and raised the target price to $37.
The stock was the biggest gainer on the Nasdaq, with volumes soaring to over 8 million shares against an average three-month range of 1.8 million.
Hercules Offshore (HERO) saw its stock jump 14% to $4.84 after Credit Suisse analysts raised their price target on the stock to $5.50 from $4.50 earlier.
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