Morning Buzz : Ambarella (AMBA), Vera Bradley (VRA), Navistar (NAV), BiondVax (BVXV), Amgen (AMGN)

Ambarella, Inc. (AMBA) dropped $5.13 to $84.48 in early trading despite topping Q216 earnings estimates.

In its quarterly report, the Santa Clara, Calif.-based video-compression chipmaker said it earned $0.88 per share, well above the $0.81 per share analysts were expecting. Revenue rose 79.1% to $84.2 million, above views for $81.73 million. In the same period the previous year, the company earned $0.37/shr on revenue of $47 million.

“Revenue from our existing wearable, IP security and automotive video recorder camera markets grew significantly in the quarter, and we saw solid growth from drones or flying cameras,” commented CEO Fermi Wang.

For Q316, AMBA provided EPS guidance of $0.86 to $0.92 versus consensus of $0.89 per share. The company also issued revenue projection of $90 to $93 million, compared to the consensus revenue estimate of $92.33 million.

On valuation measures, Ambarella Inc. shares, which currently have an average 3-month trading volume of 3.24 million shares, trade at a trailing-12 P/E of 45.86, a forward P/E of 24.62 and a P/E to growth ratio of 1.47. The median Wall Street price target on the name is $110.00 with a high target of $123.00. Currently, ticker boasts 6 ‘Buy’ endorsements, compared to 5 ‘Holds’ and no ‘Sell’.

Profitability-wise, AMBA has a t-12 profit and operating margin of 25.83% and 26.68%, respectively. The $2.81 billion market cap company reported $199.58 million in cash vs. $57 million in total liabilities in its most recent quarter.

AMBA currently prints a one year return of about 154% and a year-to-date return of around 77%.

Separately, Citron Research tweets that it is covering its AMBA short position following earnings sell off.

Vera Bradley, Inc. (VRA) shares are up $2.30 to $12.73 in early morning trading on Wednesday after the company reported its second quarter 2016 earnings results.

The handbag and accessories company posted earnings of $0.15 per share on revenues of $120.7 million, up 1.4% from a year ago. Analysts were expecting EPS of $0.10 on revenues of $115 million. Net income came in at $5.7 million.

For the current quarter ending in November, Vera Bradley said it expects EPS to be between $0.19 to 0.21 versus consensus of $0.15 per share. The company also issued revenue projection of $120 to $123 million, compared to the consensus revenue estimate of $117.20 million.

VRA currently prints a year-to-date loss of around 49%.

Shares of Navistar International Corporation (NAV) are down $1.90 to $15.46 after the company reported third-quarter 2015 earnings of $2.54 billion or ($0.37) per share. Analysts had been modeling $2.80 billion and $0.31 per share.

This is Navistar’s 12th quarterly loss in a row, as its results suffered from restructuring and warranty costs.

Navistar shares have plunged 48% since the beginning of the year.

The chart below shows where the equity has traded over the last 52 weeks.

Shares of BiondVax Pharmaceuticals Ltd. (BVXV) spiked up by more than 53 percent on Wednesday after the company announced in a press release the intent of the National Institute of Allergy and Infectious Diseases [NIAID] to launch a new Phase 2 trial of the co.’s Multimeric-001 vaccine.

BiondVax said the trial will be held in the United States in the 2015-16 timeframe and will assess the ability of M-001 in humans to serve as a pandemic primer to the H7N9 avian pandemic vaccine, by enhancing protective immunity to these highly pathogenic avian influenza H7 strains.

Shares of Amgen Inc. (AMGN) are higher by 2.40% to $151.00 in morning trading on Wednesday. The biotech firm announced its experimental bone density drug called “romosozumab” showed better results than Eli Lilly’s (LLY) Forteo after 12 months. The results come from a late-stage study of a drug designed to promote new bone growth.

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