Defense firm Force Protection, Inc. (NASDAQ: FRPT; option chain) has tumbled more than 4% to slip below the $5 level today, despite reporting a stronger-than-expected quarterly profit last night. The company raked in a fourth-quarter profit of $11.7 million, or 17 cents per share, even as revenue tumbled 46% to $239.1 million. Ahead of the report, analysts surveyed by Reuters were expecting a profit of 11 cents per share on $211.7 million in revenue.

"The decline in revenues was primarily the result of lower revenues recognized on shipments of vehicles due to the substantial completion of production under the [Mine-Resistant Ambush Protected] program," said FRPT in a statement. "However, revenues related to the company's service and support business increased to $97.7 million," more than triple the year-ago figure of $27.5 million.

Shares of trendy retailer The Buckle, Inc. (NYSE: BKE) are climbing today, boosted by a better-than-expected fourth-quarter earnings report. Net income rose 18% to $34.3 million, or 74 cents per share, while gross margin swelled to 46.1%. Ahead of the report, analysts were expecting a quarterly profit of 73 cents per share.

The Buckle reported that net sales for the quarter increased by 22% to $251.4 million, thanks to a 14.3% spike in same-store sales. Sales at stores open for at least one year escalated 21% in February, marking the 19th consecutive month of double-digit same-store sales growth.

Chinese solar concern ReneSola Ltd. (NYSE: SOL) is trading sharply higher today after the company reported that fourth-quarter revenue will exceed analysts' expectations. SOL expects to rake in revenue of $157 million to $159 million, compared to the Street's consensus estimate of $154 million.

However, the rest of ReneSola's forecast wasn't quite as sunny. The alternative energy firm warned that it will swing to a fourth-quarter net loss of $125 million to $130 million, prompted by "significant downward pressure" on average selling prices and margins. ReneSola predicted quarterly writedowns of $130 million to $140 million, due to the rapid deterioration in the price and value of materials.

Virtualization specialist VMware, Inc. (NYSE: VMW) is scheduled to report its fourth-quarter earnings next Monday, Jan. 26, after the market closes. Ahead of the announcement, analysts are expecting a profit of 26 cents per share on sales of $516 million. The company has a mixed history in the earnings spotlight; during the past four reporting periods, VMW has matched estimates once, missed once, and surprised to the upside twice.

Prior to next week's release, Wall Street is aligned almost unanimously in the bearish camp. The stock sports 16 Holds and 3 Strong Sell ratings, according to Zacks, compared to just 2 Strong Buys. These skeptical analysts have placed an average 12-month price target of $26.33 on the shares, representing a reasonable 30% premium to Tuesday's closing price.

Elsewhere, short interest represents a whopping 14.6% of VMW's float. This accumulation of bearish bets would take nearly 10 trading days to fully repurchase at the stock's average daily volume. In the event of another upside earnings surprise, the shares could rally as these shorts rush to cover their positions.