Pixelworks Shares Jump Almost 8% After Company Says It Expects To Swing To a Profit In Q4

Pixelworks Inc. shares jumped almost 8% in premarket trade Tuesday, after the video display technology company said it expects fourth-quarter revenue to come in at the high end of its guidance of $15 million to $16 million. The company said it expects to post a profit for the quarter, after previous guidance of a loss of 6 cents a share to breakeven. The company is expecting to end the quarter with a cash balance of about $19.6 million, net of borrowing, which about $3 million more than at the end of the third quarter. Shares have gained about 28% in the last year, while the S&P 500 has gained 18%.