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Stock Market & Financial Investment News

News Breaks
August 30, 2013
12:23 EDTOVTI, STM OmniVision Technologies plummets after quarterly revenue, guidance disappoints
Shares of image sensor devices company OmniVision Technologies (OVTI) are falling after the company reported first quarter revenue that fell shy of consensus estimates, and issued disappointing second quarter guidance. WHAT'S NEW: Last night, OmniVision reported first quarter adjusted earnings per share of 55c and revenue of $373.7M. Analysts' consensus expectations were for EPS of 43c and revenue of $376.58M. WHAT'S NOTABLE: The company predicted that it would report adjusted EPS of 36c-53c and revenue of $375M-$410M for the second quarter. Analysts’ consensus estimates were 49c and $406.6M, respectively. ANALYST REACTION: This morning, a number of analysts reacted negatively to OmniVision's results and guidance. Research firms Oppenheimer, Craig-Hallum, and Northland Securities all downgraded the stock. They cited margin pressure and increasing competition as reasons for the downgrade. Meanwhile, Craig-Hallum lowered its price target on the shares to $18 from $24. PRICE ACTION: In early afternoon trading, OmniVision fell $2.88, or 15.6%, to $15.53 on more than six times the average daily trading volume. OTHERS TO WATCH: Shares of OmniVision's competitor, STMicroelectronics N.V. (STM), were down about 3% in early afternoon trading.
News For OVTI;STM From The Last 14 Days
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August 29, 2014
10:18 EDTOVTIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AGCO (AGCO) upgraded to Neutral from Underweight at JPMorgan... OmniVision (OVTI) upgraded to Market Perform from Underperform at Raymond James... Brady (BRC) upgraded to Neutral from Sell at Northcoast.
07:30 EDTOVTIOmniVision price target raised to $29 from $24 at Stephens
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06:07 EDTOVTIOmniVision upgraded to Market Perform from Underperform at Raymond James
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August 28, 2014
18:13 EDTOVTIOn The Fly: After Hours Movers
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16:23 EDTOVTIOmniVision sees Q2 Non-GAAP EPS 43c-59c, consensus 49c
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16:21 EDTOVTIOmniVision reports Q1 Non-GAAP EPS 91c, consensus 53c
Reports Q1 revenue $406.5M, consensus $382.83M.
15:22 EDTOVTINotable companies reporting after market close
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August 27, 2014
09:53 EDTSTMOn The Fly: Analyst Initiation Summary
Bristol-Myers (BMY) initiated with a Hold at Deutsche Bank... ASML (ASML) initiated with a Hold at Stifel... Akamai (AKAM) initiated with an Outperform at RW Baird... Concur (CNQR) initiated with a Neutral at DA Davidson... CyrusOne (CONE) initiated with a Neutral at Citigroup... Eli Lilly (LLY) initiated with a Buy at Deutsche Bank... Garmin (GRMN) initiated with a Neutral at RW Baird... Merck (MRK) initiated with a Hold at Deutsche Bank... NetSuite (N) initiated with a Buy at DA Davidson... Oracle (ORCL) initiated with a Neutral at DA Davidson... Oxford Industries (OXM) initiated with a Buy at Wunderlich... Pfizer (PFE) initiated with a Buy at Deutsche Bank... ServiceNow (NOW) initiated with a Buy at DA Davidson... Workday (WDAY) initiated with a Neutral at DA Davidson... MannKind (MNKD) initiated with a Buy at Jefferies... STMicroelectronics (STM) initiated with an Underperform at Credit Suisse... Kirkland's (KIRK) initiated with an Outperform at Barrington.
08:21 EDTSTMSTMicroelectronics initiated with an Underperform at Credit Suisse
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August 18, 2014
16:10 EDTOVTIOmniVision says reviewing and evaluating HCM’s proposal
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