NEW YORK ( TheStreet) -- OLED player Universal Display ( PANL - Get Report) was soaring 18% to $44.96 in afternoon trading after it said its revenue in the fourth quarter more than doubled to $10.8 million due to increased commercial and developmental chemical sales.

Losses widened to $5.3 million, or 14 cents per share, on the back of a $4.8 million non-cash loss on stock warrant liability.

Vera Bradley ( VRA - Get Report) saw its shares jump 13% to $38.16 after its fourth-quarter profit beat expectations. The retailer of women's accessories reported net income of 35 cents per share on revenue of $109.4 million. Analysts predicted earnings of 27 cents per share on revenue of $95.6 million.

Websense ( WBSN) saw its stock jump 13% to $23.15 on a Wall Street Journal report that security software company was exploring a sale.

Small-cap oil companies were making a comeback on Wednesday as oil resumed its climb. Lucas Energy ( LEI) was rising 11% to $3.46 on higher-than-average volumes.

The company said Tuesday that it had acquired a gas well from an independent operator. Production for the month of January (only a partial month of production) was 5,791 thousand cubic feet of gas and 371 barrels of condensate.

Shares of Samson Oil ( SSN) were gaining 12%, while Royale Energy ( ROYL) and Kodiak Oil ( KOG) were up about 5% each.

Shares of Cheniere Energy ( LNG - Get Report) were up nearly 4% to $8.57. Expectations of fresh demand for liquefied natural gas from Japan, as the disaster-stricken nation searches for alternative energy sources amid its nuclear power crisis, is driving up the price of natural gas. The company is, however, slated to export LNG only in 2015.

The stock of Powerwave Technologies ( PWAV) was witnessing unusual activity, rising up 5% to $3.79 on high volumes. The stock could be getting a boost from better-than-expected results of Spreadtrum Communications ( SPRD). Total revenue increased 31.5% quarter-over-quarter and 199.5% year-over-year to $126.5 million, exceeding the Spreadtrum's previously guided range of US$118-125 million.

--Written by Shanthi Bharatwaj in New York

>To contact the writer of this article, click here: Shanthi Bharatwaj.

>To follow the writer on Twitter, go to http://twitter.com/shavenk.

>To submit a news tip, send an email to: tips@thestreet.com.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.