Among the companies whose shares are expected to actively trade in Friday's session are OmniVision Technologies Inc. (OVTI), Pandora Media Inc. (P) and Tiffany & Co.'s (TIF).
OmniVision Technologies' fiscal first-quarter earnings more than doubled on its continued sales and margin strength, but the imaging-technology company predicted a paltry performance in the current quarter relative to analysts' expectations. Shares in the company plunged 23% to $19.21 in premarket trading.
Pandora Media posted a loss in the fiscal second quarter as growth in costs outstripped that of revenue in the Internet-radio operator's first quarterly report as a publicly traded company. But shares were up 6% at $13.20 premarket as Pandora reported an unexpected core profit on a stronger-than-expected top line.
Tiffany's fiscal second-quarter earnings rose 33% on double-digit sales growth in all geographies, led by the Asia-Pacific region, and results easily beat views. Shares jumped 4.2% to $65.75 premarket as the high-end jewelry retailer also raised its full-year earnings estimate.
Oslo-listed oil tanker giant Frontline Ltd. (FRO, FRO.LN) Friday said it swung to a $35.24 million net loss in the second quarter, from a year-earlier profit of $81.31 million, due to weak demand for tankers that has continued into the third quarter. Frontline's American Depositary shares fell 4.8% to $6.17 premarket.
Aruba Networks Inc.'s (ARUN) fiscal fourth-quarter earnings soared over last year's slight profit as the telecommunications-equipment maker continued to benefit from strong demand for its business-oriented offerings. Shares rose 6.5% to $18.25 premarket.
Sterne Agee raises Research In Motion Ltd. (RIMM) to buy from neutral saying the company should benefit from its strongest product cycle in some time driven by its new BlackBerry 7 OS. Longer-term, Sterne says it is concerned with margin compression and competitive risk, but still raises its price target on the company. Research in Motion's shares traded up 1.8% to $28.74 premarket.
Pacific Crest lifts its stock-investment rating on VMware Inc. (VMW) to outperform saying "general virtualization trends remain robust" despite the weak economy. VMware shares are off 18% over the last three months to $80.18, and Pacific Crest says it would be an opportunistic buyer, saying VWM has room for increased penetration as its customers begin to transition their higher-value applications to virtualized infrastructures. Shares are up 1.6% to $81.48 in recent premarket trading.
Belden Inc.'s (BDC) chief financial officer plans to retire at the end of the year, prompting the company to unveil a succession plan it said has been long underway.
HollyFrontier Corp. (HFC) said its board approved a nearly 17% increase to the refiner's quarterly dividend, joining a growing list of companies looking to return value to shareholders.
Krispy Kreme Doughnuts Inc.'s (KKD) fiscal second-quarter profit soared as the doughnut chain posted higher same-store sales and a sharp increase in franchise revenue abroad, while a one-time gain also boosted the bottom line.
MTS Systems Corp. (MTSC) Thursday said Chairman and Chief Executive Laura B. Hamilton was "leaving the company by mutual agreement with the board" effective the same day. The company, which makes test systems and position sensors for industrial and vehicular markets, separately said it was boosting its quarterly dividend by 25%.
Quanex Building Product Corp.'s (NX) fiscal third-quarter profit fell 12% on higher costs and acquisition-related impacts, masking net sales growth that exceeded analysts' expectations.
Raymond James Financial Inc. (RJF) plans to spend up to $75 million to buy back additional company stock and senior notes, becoming the latest firm to unveil an expanded repurchase program while its shares are under pressure.
Shoe Carnival Inc.'s (SCVL) fiscal second-quarter profit fell 34% as the retailer blamed inclement weather for softer-than-expected sales, though it issued an optimistic outlook for the current period.
Urban Outfitters Inc. (URBN) added 10 million shares to its stock buyback authorization after the company used up the repurchases allowed under its earlier plan.
Westar Energy Inc. (WR) asked Kansas regulators to allow a 5.85% rate increase, citing higher operating costs and the burden of federal regulations.
-Edited by Corrie Driebusch and Caitlin Nish; write to firstname.lastname@example.org and email@example.com