Afternoon BUZZERS: Splunk and OmniVision SURGE, More Trouble for Zynga
Shares of Splunk (NASDAQ:SPLK) surged more than 15 percent today. The company reported that revenue jumped 71 percent to $44.5 million in the second quarter, topping estimates by nearly $5 million. Splunk also raised its full-year outlook revenue estimate by about $9 million. The company is now projecting revenue of $183 million to $186 million for the fiscal year ending Jan. 31, up from a previous outlook of $174 million to $177 million.
Zynga (NASDAQ:ZNGA) attracted more attention to itself for all the wrong reasons. Reports indicate that two of the company’s vice presidents, Bill Mooney and Brian Birtwistle, have left the video game maker. Bloomberg reports, “Mooney, a vice president of studios, and Birtwistle, a vice president of marketing, resigned this week, said the person, who asked not to be identified because the departures aren’t public.”
OmniVision Technologies (NASDAQ:OVTI) shares gained 4.09 percent this afternoon. The Apple (NASDAQ:AAPL) supplier reported that revenue for the fiscal first quarter came in at $258.1 million, compared to $218.5 million from the previous quarter and $276.1 million last year. Analysts were expecting revenue of about $243.8 million. The company’s second quarter outlook also beat expectations.
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Zumiez (NASDAQ:ZUMZ) shares fell over 11 percent today. The retailer announced late Thursday that net income for the second quarter dropped 19.5 percent to $2.1 million (7 cents per share), compared to $2.6 million (8 cents per share) a year earlier. Rick Brooks, chief executive officer, stated, “The second quarter was a productive and transformational period for our Company.”
Shares of SAIC (NYSE:SAI) popped over 4 percent on Friday, despite net income falling 38.2 percent in the second quarter. The company earned $110 million (32 cents per share), compared to $178 million (50 cents per share) in the same period last year. However, revenue increased 9.7 percent to $2.85 billion, beating the average analyst estimate of $2.69 billion.
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