Stocks To Eyes On: National Bank of Greece (ADR), OmniVision Technologies Inc, Krispy Kreme Doughnuts, Dendreon Corporation
National Bank of Greece (ADR)(NYSE:NBG) shares gained 20.51% to $8.54. The company, on May 24, reported a profit for the second consecutive quarter, helped by its Turkish subsidiary Finansbank, as well as lower funding costs and provisions for bad debt. The bank posted net profit of 27 million euros in the first quarter compared to a loss of 731 million in the same period last year. NBG said loan-loss provisions fell to 428 million euros from 505 million euros.
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OmniVision Technologies, Inc. (NASDAQ:OVTI) shares increased 19.37% to $18.49. The company on May 30 reported financial results for the fiscal fourth quarter and fiscal year ended April 30, 2013. Revenues for the fourth quarter of fiscal 2013 were $336.2 million, as compared to $423.5 million in the third quarter of fiscal 2013, and $218.5 million in the fourth quarter of fiscal 2012. GAAP net income in the fourth quarter of fiscal 2013 was $8.9 million, or $0.17 per diluted share, as compared to net income of $21.3 million, or $0.40 per diluted share in the third quarter of fiscal 2013, and $2.7 million, or $0.05 per diluted share in the fourth quarter of fiscal 2012.
Krispy Kreme Doughnuts (NYSE:KKD) shares climbed 16.83% to $16.70. The company on May 30 reported first-quarter net income of $8.0 million $0.11 per share, up from $6.0 million or $0.08 per share last year. Adjusted net income improved to $14.1 million or $0.20 per share from $10.3 million or $0.14 per share last year. Analysts expected earnings of $0.17 per share for the quarter. Revenues for the quarter grew 11.2 percent to $120.6 million from $108.5 million. Analysts estimated revenues of $115.97 million for the quarter.
The bank bought credit-correlation positions with a notional value of more than $50 billion over the past three years, including a portfolio sold by Credit Suisse Group AG in 2012, four people with knowledge of the transactions said. The trades helped boost Morgan Stanley (MS)’s fixed-income revenue, the lowest among the biggest Wall Street firms, at the same time they swelled the balance sheet with risky assets. Such large acquisitions have since been halted, two other people said on May 31.
Dendreon Corporation(NASDAQ:DNDN) shares increased 4.02% to $4.22. The company on May 9 reported results for the first quarter ended March 31, 2013. Net product revenue for the quarter was $67.6 million compared to $82.0 million for the quarter ended March 31, 2012, down 17.6% year over year. Net loss in the first quarter of 2013 was $72.0 million, or $0.48 per share, compared to a net loss of $103.9 million, or $0.70 per share for the same period in 2012.