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.
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.
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.