5 Stocks That Are Moving the Markets Today: TSM, APH, BBT, More

Imperva Inc. (NYSE:IMPV) shares have plunged by 15% on the news that it may delay selling itself as it seeks to attain a better price. At the same time, several analysts, including JPMorgan, cautioned that the company needs to offer consistent growth for a couple of quarters to justify its own elevated price expectations. Imperva shares are now well below the $44 price range they stood at before Bloomberg reported on July 11 that the company would seek to sell itself. 21 hedge funds in our database had long positions in Imperva Inc. (NYSE:IMPV) at the end of the June quarter, including Paul Singer‘s Elliott Management, which pushed for a sale.

Banc of California Inc. (NYSE:BANC) shares have jumped by 15% after the company decided to report its earnings earlier than scheduled. Its net income for the third quarter of the year rose by nearly 100% to touch $0.59 per share, easily beating the consensus estimate of $0.42. Banc of California’s revenue of $161.6 million also clobbered the Street’s forecast of $144.4 million. Furthermore, the company increased its 2016 EPS forecast from $1.60 to $1.85. Banc of California has also rebounded today after big losses yesterday partly due to lashing out against a Seeking Alpha article published yesterday which it called “inaccurate” and “malicious”. The article alleged that several Banc of California officers and board members had ties to fraudster Jason Galanis. Seeking Alpha stated that the article was an instablog post that was not subject to its editorial approval. 17 hedge funds that we track held about $97 million in Banc of California stock as of the end of the June quarter.

BB&T Corporation (NYSE:BBT) is marginally up as the company reported its financial results for the third quarter, including EPS of $0.76 and revenue of $2.81 billion, which beat estimates of $0.71 and $2.79 billion. BB&T Corporation (NYSE:BBT) stated that the bank focused on curtailing costs and increasing revenue. 20 hedge funds in our database held about $838 million worth of BB&T Corporation’s stock as of the end of June.

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