Vera Bradley surges, OmniVision falls after hours
LOS ANGELES (MarketWatch) -- Shares of
Stock in Vera Bradley (VRA) jumped 8.1% to $23.65, with first-quarter earnings coming in at 31 cents a share, above the Thomson Reuters consensus forecast of 29 cents a share. Sales for the company, which designs and sells women's handbags, wallets and other accessories, rose 16% to $117.2 million. Wall Street had projected sales of $117 million. The company itself had expected earnings of 27 cents to 29 cents a share on revenue of $115 million to $117 million.
But Vera Bradley's full-year sales forecast of $535 million to $540 million was reduced from its previous projection of $540 million and $545 million. The company backed its earnings view for the year. More on Vera Bradley's results, outlook.
OmniVision (OVTI) shares fell 7.6% to $14.95 after the image-technology company said it expects fiscal first-quarter adjusted earnings of 16 cents to 27 cents a share. Analysts were looking for 29 cents a share. Its first-quarter revenue forecast of $235 million to $255 million, however, was above Wall Street's call for $219 million.
For its fiscal fourth quarter, OmniVison's profit dropped to $2.7 million, or 5 cents a share, from $34 million, or 56 cents a share, in the year-ago period. Adjusted earnings were 20 cents a share, and revenue declined 15% to $218.5 million. Read about OmniVision's results, forecast.
In dayside trading, U.S. stocks fell, and closed the month with sharp losses.
The Dow Jones Industrial Average (DJIA) finished the daily session down 26 points, or 0.2%, at 12,393.45, off 6.2% for May. The S&P 500 Index (SPX) lost 0.2% at 1,310.33, and the Nasdaq Composite Index (COMP) fell 0.4% to 2,827.34.
For the month, the Dow lost 6.2% and the S&P 500 Index fell 6.3%. The Nasdaq Composite ended May down 7.2%.