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.
Watch List:
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
corrie.driebusch@dowjones.com and caitlin.nish@dowjones.com