4 Stocks Making Moves Today: What You Need To Know

Coach Inc (NYSE:COH) has gained 4.55% today after it also took the wraps off of its latest quarterly results today, for its first quarter of fiscal year 2016. While the upscale handbag maker’s sales declined by 0.8% year-over-year, that was a big improvement over the sharper declines witnessed in the prior three quarters, all of which came in at 11% or greater. And while Coach Inc (NYSE:COH)’s same-store sales in North America fell by 9.5% year-over-year, that was also the best figure in two years, which shows how precipitously the brand has fallen in that time. Shares are off by over 60% since hitting their all-time high in early 2012, and are still down by 15.6% this year. Hedge funds we track held 4.00% of Coach Inc (NYSE:COH)’s shares as of June 30, making them slightly underweight the stock. Their collective sentiment remained mostly unchanged during the second quarter, with 35 funds long Coach, down from 36 over the course of the second quarter.

Lastly is AK Steel Holding Corporation (NYSE:AKS), which started the day strong, but couldn’t carry that momentum throughout the session. Things started off well enough, with shares spiking up by over 10% at one point in morning trading after the company reported its third quarter results and announced that its CEO was stepping down. Shares have steadily declined from there however and now reside 2.56% in the red for the day and over 60% in the red this year. It was announced that CEO James Wainscott will step down on January 1, to be replaced by current finance EVP and CFO Roger Newport. AK Steel Holding Corporation (NYSE:AKS) has struggled amid the challenging market conditions for the steel industry, including a flood of what Wainscott previously described as “unfairly traded imports of carbon steel”. AK Steel Holding Corporation (NYSE:AKS) announced last month that it would be forced to lay off hundreds of workers later this year to cope with the challenges. Nonetheless, AK Steel did beat estimates for the latest quarter, pulling in $1.71 billion in revenue and adjusted earnings of $0.04 per share. Analysts had been anticipating a loss of $0.08 per share for the Dayton, Ohio-based company, which was held in the portfolios of 20 of the elite investors that we follow, who held 20.60% of its outstanding shares.

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