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TheStreet Open House

Splunk, OmniVision, Apple: Tech Premarket

Stocks in this article: SPLKOVTIAAPLGOOG

NEW YORK ( TheStreet) -- Splunk (SPLK) was a major gainer in premarket trading on Friday as investors welcomed the company's strong second-quarter results and guidance hike.

The big data specialist brought in revenue of $44.5 million, a 71% hike from the same period last year and comfortably above the average analysts' forecast of $39.8 million. Excluding items, Splunk registered a loss of a penny a share, better than the consensus estimate for a loss of 4 cents a share.

Splunk, which went public earlier this year, also offered robust guidance, projecting third-quarter revenue between $45 million and $47 million. Analysts surveyed by Thomson Reuters are currently looking for revenue of $44.66 million.

The San Francisco-based company also hiked its full-year revenue guidance to between $183 million and $186 million, compared to a prior range of $174 million to $177 million. Splunk now expects its non-GAAP operating margin to be between negative 2% and negative 3% compared to its prior estimate of negative 4% to negative 5%.

Splunk shares climbed 14.72% to $34.99 before market open on Friday.

OmniVision (OVTI) was another big gainer, rising 10.87%, to $17.64 after the digital imaging specialist reported strong first-quarter results and gave robust guidance.

The Santa Clara, Calif.-based firm, a key Apple (AAPL) partner, expects non-GAAP earnings of 21 cents to 37 cents a share for its fiscal second quarter on revenue of $355 million to $390 million. Analysts surveyed by Thomson Reuters are looking for earnings of 32 cents a share on revenue of $288.42 million.

Shares of Apple, which is reportedly in talks to settle its patent dispute with Google (GOOG), rose 0.59% to $667.8. Google's shares were up 0.9% at $687.82.

--Written by James Rogers in New York.

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