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NVIDIA Corporation (NVDA) Shares Jump on Strong Q3 Revenue Forecast


8/12/2011 7:56:40 AM

Shares of graphics card maker Nvidia Corp rose 12 percent in pre-market trade on Friday after the company reported market-beating quarterly results and forecast strong third-quarter revenue on accelerating growth in its mobile business. Shares of the company leapt $1.63 pre-market to $15.04. They had closed at $13.41 on Thursday on Nasdaq. However, brokerage Evercore Partners cut its price target on Nvidia stock to $11 from $12, saying it was "surprised" with the lack of growth of the company's much touted Tegra processors.

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