Everspin Technologies Inc
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Information Technology : Semiconductors & Semiconductor Equipment | Small Cap Blend
Company profile

Everspin Technologies, Inc. is engaged in providing magnetoresistive random-access memory (MRAM) solutions. The MRAM solutions offer non-volatile memory with the speed and endurance of random-access memory (RAM) and enable the protection of critical data, particularly in the event of power interruption or failure. The Company delivers solutions for industrial, medical, automotive/transportation, aerospace, and data center. The Company’s products include Toggle MRAM, offers products with industry standard interfaces, including Parallel, Serial Peripheral Interface (SPI) and Quad SPI (QSPI) interfaces; Spin-transfer Torque MRAM (STT-MRAM), offer products with standard DDR3 and DDR4 derivative interfaces; and Tunnel Magneto Resistance (TMR) Sensors, offers die-level devices integrated into consumer electronic applications that utilize a three-dimensional (3D) compass function.

Closing Price
Day's Change
1.37 (17.17%)
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Vera Bradley shares sink 15% after profit and sales miss

8:27 am ET September 1, 2021 (MarketWatch)

Vera Bradley Inc. (VRA) shares plunged 15.4% in Wednesday premarket trading after the accessories company reported fiscal second-quarter profit and sales that missed expectations. Net income totaled $9.05 million, or 26 cents per share, compared with $7.2 million or 42 cents per share, last year. Adjusted EPS of 28 cents missed the FactSet consensus for 33 cents. Sales totaled $147.0 million, up from $131.8 million and below the FactSet consensus of $153.6 million. "[W]e experienced two major factors that impacted our second quarter results. First, the Apple iOS 14.5 update negatively affected Pura Vida revenues, primarily due to the impact it had on the effectiveness of Facebook and Instagram advertising," said Chief Executive Rob Wallstrom in a statement. Pura Vida is the company's jewelry brand. E-commerce fashion site Revolve Inc. (RVLV) has also discussed the impact of the iOS change. "Second, like much of the industry, at Vera Bradley, we continued to experience supply chain challenges and significantly increased freight and tariff expenses that put meaningful pressure on gross margin in the quarter." The company expects margin pressure to persist for the medium term. For fiscal 2022, Vera Bradley is guiding for revenue of $550 million to $565 million and EPS of 80 cents to 95 cents. The FactSet consensus is for revenue of $570.4 million and EPS of 95 cents. Vera Bradley shares have run up 44% for the year to date while the S&P 500 index is up 20.4% for the period.

-Tonya Garcia


(END) Dow Jones Newswires

September 01, 2021 08:27 ET (12:27 GMT)

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