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Corporate Summary

•    Shares of HUGHES Telematics, Inc. (OTC:HUTC) surged 171% after Verizon Communications Inc.(NYSE:VZ) agreed to purchase the company for $612 million in cash. The acquisition is expected to be completed by Q3 of 2012 at $12 a share

•    Ascena Retail Group Inc (NASDAQ:ASNA) posted third quarter earnings per share of $0.34, missing the Zacks Consensus Estimate of $0.36

•    Vera Bradley, Inc. (NASDAQ:VRA) reported first quarter earnings per share of $0.31, beating the Zacks Consensus Estimate of $0.29

•    OmniVision Technologies, Inc. (NASDAQ:OVTI) fell 17.2%, a day after it posted fourth quarter earnings per share of $0.05, missing the Zacks Consensus Estimate of $0.09

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