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10 Stocks to Watch: OmniVision, Clearwire

NEW YORK ( TheStreet) -- Shares of OmniVision Technologies (OVTI - Get Report) 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 - Get Report) 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 - Get Report), 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 - Get Report) 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 - Get Report) were down 1% to $40.28 after the company was downgraded to equal-weight from overweight by Morgan Stanley.

Boeing's (BA - Get Report) 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 - Get Report) 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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Copyright 2011 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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CLWR $0.00 0.00%
ARUN $0.00 0.00%
AMD $2.33 -1.30%
BA $147.75 1.60%
HOT $72.76 1.30%


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