MidnightTrader Earnings Play: Nvidia
Nvidia
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NVDA |
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PowerRating) is set to report its Q3 results after the bell tonight, and analysts polled by Thomson Financial are expecting the company to report a profit of $0.12 per share on revenue of $890 million.
NVDA generally favors a narrowing pattern between its after-hours move and the next day session following an evening earnings event. It has narrowed or reversed its next-day price movement 10 times and has widened its next-day movement eight. In a 19th event it saw a flat evening trade followed by a next-day gain. In the near-term, performance is mixed, with two narrowing moves, one widening event, and one quarter where the stock was flat in night trade followed by a next-day gain.
On Aug. 12, 2008, NVDA advanced 10.2% in after-hours trade after beating earnings expectations and hiking its buyback plan. The stock added modestly to its upside the following day, rising 10.7% in the Aug. 13 regular session.
On May 8, 2008, NVDA traded flat in after-hors action on the heels of an earnings miss. The stock found support the next day, closing the May 9 regular session up 2.6%.
On Feb. 13, 2008, the stock edged up 0.3% during evening trading when NVDA missed with Q4 sales. The stock plunged 16.3% the next day.
On Nov. 8, 2007, NVDA charged 7.7% higher in after-hours action after reporting in-line revenue and better-than-expected earnings results. It saw that gain evaporate the next day as the stock closed the Nov. 9 regular session down 1.4%.
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