Morning Buzz: Nvidia (NVDA), Pixelworks (PXLW), Fluidigm (FLDM), Monster Beverage Corp (MNST), Aquinox (AQXP)

Wall Street

Nvidia Corporation (NVDA) shares are up $1.90, or 9.63%, to $22.36 in morning trading Friday after the company reported its second quarter 2016 earnings results.

The visual computing company posted earnings of $0.34 per share on revenues of $1.15 billion, up 4.5% from  $1.10 billion a year ago. Analysts were expecting EPS of $0.20 on revenues of $1.01 billion. Net income came in at $26 million, or $0.05 per share (diluted), 80% lower from $128 million, or $0.22 a share, a year earlier.

For Q3’16, NVDA issued revenue projection of $1.18 billion, compared to the consensus revenue estimate of $1.10 billion.

Nvidia shares have risen 2 percent since the beginning of the year. The Santa Clara, California-based company pays shareholders $0.39 per share annually in dividends, yielding 2.00%. Ticker has a current market cap of $12.07 billion.

Shares of Pixelworks, Inc. (PXLW) are lower by nearly 10% to $4.97 in morning trading on Friday after the company announced public offering of 3.25 million shares at a price of $4.75 per share with gross proceeds of $15.4 million.

Pixelworks’s trading volume jumped on the news with the issue currently trading more than 1.1 million  shares, compared to the daily average volume of 411K shares.

Fluidigm Corporation (FLDM) reported second quarter EPS loss of ($0.53) before the opening bell Friday, compared to the consensus estimate of ($0.37). Revenues increased 3.7% from last year to $28.62 million. Analysts expected revenues of $30.43 million. For full fiscal year 2015, FLDM provided revenue guidance of $110-$115 million, compared to the consensus revenue estimate of $135.67 million.

Fluidigm stock is currently down $7.91 to $12.02 on 2.05 million shares.The stock has fallen 41% since the beginning of the year.

Monster Beverage Corporation (MNST) gained $5.26 to $150.13 in morning trading after it reported fiscal results for the second quarter.

In its quarterly report, the company said it earned $0.79 per share, well below the $0.91 per share analysts were expecting. Revenue rose 0.9% to $693.7 million, below views for $755.07 million.

On valuation measures, Monster Beverage Corp. shares trade at a trailing-12 P/E of 66.67, a forward P/E of 37.30 and a P/E to growth ratio of 2.07. The median Wall Street price target on the name is $151.00 with a high target of $167.00. Currently ticker boasts 9 ‘Buy’ endorsements, compared to 7 ‘Holds’ and no ‘Sell’.

MNST prints a one year return of 119.37% and a year-to-date return of around 34%.

Aquinox Pharmaceuticals Inc. (AQXP) is one of today’s most notable movers, up as much as 216% to $5.80. The spike comes after the clinical-stage pharmaceutical company announced positive results from secondary endpoints from phase 2 LEADERSHIP Trial with AQX-1125 in patients with bladder pain syndrome/interstitial cystitis (BPS/IC).

“Consistently positive results from multiple secondary endpoints have strengthened our confidence in further development of AQX-1125 for BPS/IC,” said in a press release Mr. David Main, President and CEO of Aquinox. “The encouraging effect of AQX-1125 observed on the primary endpoint of reduction in pain together with several statistically significant secondary endpoints, underscore the potential of AQX-1125 as a once daily, oral therapy for this debilitating disease.”

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