Northern, WI 6/1/12 (StreetBeat) -- Margins Under Pressure at OmniVision
OmniVision Technologies (Nasdaq: OVTI) earned $0.20 a share in the fourth quarter and sees profit of no more than $0.11 in the first quarter. Analysts expected $0.22 and $0.29, respectively. Revenue is stronger than expected, but investors are focused on that margin implosion. OVTI drops 8 percent in the premarket.
Vera Earnings, Revenue Beat Expectations
Vera Bradley (Nasdaq: VRA) reported first-quarter profit of $0.31, beating the $0.29 average analyst estimate. Revenue of $117.2 million was also better than the $116.55 million consensus number. VRAclimbs 5 percent before the bell on my tradeMONSTER platform.
Sara Lee Gets Jolt From Coffee Spinoff
Sara Lee (NYSE: SLE) is shaking things up. The company's board gave final approval to the spinoff of its tea and coffee operations. The deal will also entail the payment of a $3-per-share special dividend and be followed by a 1-for-5 reverse stock split. SLE is higher by 3 percent on my tradeMONSTER system.
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