Pre-Market Watchlist: DRQ, CGEN, OVTI, BVN, AMAP

Technology Stocks News 2

Dril-Quip, Inc. (NYSE:DRQ), which makes engineered offshore drilling and production equipment, said net income rose to $47.1 million, or $1.15 per diluted share, from $31.0 million, or $0.76 per diluted share, beating analysts’ estimates by one cent, according to Capital IQ.

The company said the Q4 results for 2013 results were hit by an after-tax foreign exchange loss of $2.3 million, or $0.06 per diluted share, as compared to an after-tax foreign exchange loss of $0.7 million, or $0.02 per diluted share, a year ago. Total revenues rose 23% to $232.5 million, driven by product sales.

That’s just shy of estimates for $233 million. The company expects its earnings per diluted share for 2014 to be about $5.00 to $5.20 and its 2014 first quarter earnings per diluted share to approximate $1.10 to $1.20. That’s below the $5.42 expected by analysts for 2014 and the $1.22 forecast for Q1.

Compugen Ltd. (NASDAQ:CGEN) was down more than 16% in pre-market Friday after it started an underwritten public offering of its ordinary shares. All of the ordinary shares in the offering are being offered by Compugen. No details on size of offering were disclosed.

Shares of OmniVision Technologies, Inc. (NASDAQ:OVTI) are up 14.20% to $18.50 in pre-market trading after the company issued earnings guidance that beat out analyst expectations. For Q4, OVTI is forecasting EPS of $0.19 to $0.35 on revenue of $275 million to $305 million, compared to analysts predictions of $0.22 per share earnings on revenue of $284.3 million.

“Profitability in China is very strong,” said OVTI CEO Shaw Hong in a conference call. “We were able to benefit from growth in this market.” OVTI trades within a 52-week range of $12.06 – $20.48.

Peru-based mining company Compania de Minas Buenaventura SAA (NYSE:BVN) slipped nearly 3% in the pre-market session after reporting a net loss of $288.4 million, or $1.13 per share, for Q4 2013. This compares to a net income of $154.1 million, or $0.61 per share, a year earlier.

After adjustments, net income for the quarter was $164.9 million, or $0.65 per share, up from last year’s $154.1 million, or $0.61 per share. Revenues totaled $299.2 million versus $424.2 million in Q4 2012. No analyst estimates were available for comparison.

AutoNavi Holdings (NASDAQ:AMAP) is weaker in pre-market trading after the company reported mixed financial results for Q4. Shares are down 1.74% at $20.35, with a 52-week range of $9.90 – $21.20. The company, which provides digital map content and navigation and location-based solutions in China, reported Q4 non-GAAP net loss per ADS attributable to AMAP shareholders of $0.41, which excludes share-based compensation expenses, compared with $0.22 in the year-ago period.

Analysts polled by Capital IQ were expecting a $0.10 loss per ADS. GAAP loss per ADS was $0.52, as compared with $0.18 in the prior year quarter. Revenue was $31.5 million up from $43.6 million in the same quarter last year. The Street view is for revenues of $30.48 million.

 

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