NEW YORK, NY / ACCESSWIRE / October 29, 2018 / National Instruments Corporation was a big gainer in Friday’s session after reporting
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National Instruments Corporation
National Instruments Corporation shares were up almost 17% on Friday on about 2.8 million shares traded. The stock saw the big pop after the company, which makes tools and systems for scientists and engineers, reported third quarter financial results. The Company reported adjusted EPS of $0.45 per, much higher than the $0.28 expected by the street. CEO Alexander M. Davern said during the earnings call, "I'm once again, very proud of our execution in the quarter. Our focus on industries and applications where our platform was most valued has driven strong results in Q3, with orders up 13% year-over-year. Revenue in Q3 was $346 million, a new Q3 record, and up 8% year-over-year. In addition, our backlog increased by $14 million during the third quarter, improving our future visibility. We're delivering on our stated goals with non-GAAP net income up 49% year-over-year in the first 3 quarters. In Q3, we delivered 17% non-GAAP net margin, a record for any quarter in the company's history. I believe that we will hit our 18% non-GAAP operating margin goal in 2018. Our platform continues to position us well to both capitalize on strong market conditions and deliver greater systems level value to take advantage of the major growth opportunities in areas like 5G semiconductors and electric and autonomous vehicles. This differentiated market position gives me great confidence in our long-term ability to grow."
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Flex Ltd. shares were down a little over 35% this past Friday on about 70.5 million shares traded. Average trading volume for the stock is only around 5.7 million shares. The stock plummeted to a new low of $7.04 after the electronics manufacturing services provider reported mixed second-quarter results, revealed that it terminated a partnership with sports apparel company Nike and provided guidance below the market’s expectations. Not only that
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