NEW YORK ( TheStreet) -- Shares of OmniVision Technologies (OVTI) were tanking 24.5% to $18.74 in premarket trading Friday after the Santa Clara, Calif.-based digital imaging technology company gave a weak outlook for the current quarter.
The company said it expects non-GAAP earnings of 52 cents to 64 cents a share in the quarter on revenue ranging from $255 million to $275 million. That view is well below the current average estimate of analysts polled by Thomson Reuters for second-quarter earnings of 81 cents a share on revenue of $305.7 million.
Wireless provider Clearwire (CLWR) has been discussing restructuring options with asset management firm Blackstone Group, according to Bloomberg.
Shares were tumbling 9.7% to $2.70.
Shares of Aruba Networks (ARUN) were surging 9.5% to $18.76 after the Sunnyvale, Calif.-based company topped Wall Street's profit expectations by a penny in the latest quarter. The company reported non-GAAP earnings of $20.2 million, or 17 cents a share for the fiscal fourth quarter on revenue of $113.8 million, up 47% year over year. The average estimate of analysts polled by Thomson Reuters was for a profit of 16 cents a share on revenue of $109.2 million.
Pandora (P) topped Wall Street expectations in its second quarter, enjoying strong Web-based and mobile advertising revenue. Excluding items, the online radio company reported an adjusted profit of 2 cents a share on revenue of $67 million for its fiscal second quarter ended in July. Analysts had expected Pandora to break even on a per share basis on revenue of $60 million. Shares were gaining 6.3% to $13.25.
Tiffany (TIF), the luxury retailer, posted adjusted second-quarter earnings of 86 cents a share, topping estimates handily as net sales rose 30% from a year earlier. It also raised its fiscal-year earnings forecast. Tiffany raised its fiscal-year earnings outlook to $3.65 to $3.75 a share, not including nonrecurring expenses, compared with a previous forecast of $3.45 to $3.55 a share. Shares were spiking 4.7% to $66.05.
Krispy Kreme Doughnuts (KKD) reported second-quarter earnings of 12 cents a share, including a gain of 6 cents on the sale of the company's equity interest in its Mexican franchisee. Analysts, on average, were expecting earnings of 6 cents a share. Shares were rising 2.6% to $8.04.
Shares of Starwood Hotels & Resorts Worldwide (HOT) were down 1% to $40.28 after the company was downgraded to equal-weight from overweight by Morgan Stanley.
Boeing's (BA) 787 Dreamliner plane is scheduled to receive operating certification from the U.S. government Friday after suffering years of delays. Shares were trading sideways at $61.05.
Chipmaker Advanced Micro Devices (AMD) appointed Lenovo Group's chief operating officer, Rory Read, to replace forced-out CEO Dirk Meyer.
Media and entertainment company Madison Square Garden (MSG) reported second-quarter profit of 11 cents a share vs. the average estimate of analysts of 13 cents a share. -- Written by Andrea Tse in New York.
>To contact the writer of this article, click here: Andrea Tse.
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