Pre-Market BUZZERS: Zumiez Plunges 13%, Apple Supplier OmniVision JUMPS 10%
Shares of Zumiez (NASDAQ:ZUMZ) are down more than 13 percent in pre-market trading. The retailer announced 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.”
SAIC (NYSE:SAI) shares surged 8 percent in pre-market trading, 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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After closing 2.3 percent in the red on Thursday, Zynga (NASDAQ:ZNGA) shares continued to decline another 1 percent in late trading yesterday. 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 surged nearly 10 percent in early trading. 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.
Shares of Pandora Media (NYSE:P) are up 2 percent in pre-market trading after gaining 14 percent on Thursday. The Internet radio company recently reported that is loss for the second quarter widened to $5.4 million, compared to a loss of $1.8 million a year earlier. However, revenue surged 33.5 percent to $89.4 million, beating estimates of $74.3 million. “This quarter exceeded our expectations as our strong momentum continues with both listeners and advertisers,” stated Joe Kennedy, chief executive officer. “In particular, this quarter demonstrated that our mobile monetization strategies are working.”
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