Synchronoss Technologies, Inc. (SNCR) shares are skyrocketing by 22% to $51.85 in early trade amid reports the company is working with financial advisor Qatalyst Partners on a possible sale that could be valued at more than $2 billion.
Bridgewater, New Jersey-based Synchronoss has a current market cap of $1.83 billion and is part of the technology sector and computer software & services industry.
Clean Diesel Technologies Inc. (CDTI) is plunging more than 10% to $2.26 on news that it is raising approximately $5.1 million in gross proceeds in an underwritten public offering of 2.5 million common stock units at a purchase price of $2.05 per unit.
Vera Bradley, Inc. (VRA) reported first quarter non-GAAP EPS of $0.00 before the opening bell Wednesday, compared to the consensus estimate of $0.02. Revenues declined 9.8% from $112 million last year to $101.1 million. Analysts expected revenues of $105.48 million. The handbag and accessories company posted a loss of $4.1 million, or ($0.10) per diluted share for the period ended May 2, 2015 after reporting a profit of $6.5 million, or $0.16 per share in the same period a year earlier.
For Q2/15, Vera Bradley provided EPS guidance of $0.10 – $0.13 versus consensus of $0.17 per share. The company also issued revenue projection of $116 – $120 million, compared to the consensus revenue estimate of $121.20 million.
Profitability-wise, VRA has a t-12 profit and operating margin of 7.55% and 13.26%, respectively. The $561.19 million market cap company reported $96.5 million in cash vs. $92.1 million in total liabilities in its most recent quarter.
The stock is currently down $1.63 to $12.51 on 1.27 million shares.
Shares of LightPath Technologies, Inc. (LPTH) are skyrocketing by nearly 62% to $1.78 in morning trading on Wednesday after the company provided an update on its new infrared product line.
Commenting on the update, Jim Gaynor, President and Chief Executive Officer of LightPath, said, “We are extremely excited by the growth in market opportunities for our infrared product line. The launch of our proprietary infrared product technologies positions us to participate in an estimated $3.5 billion global market, according to market research expert Techno Systems Research Co., Ltd.”
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