A Look at Five Stocks that Are Trending on Thursday

Wal-Mart Stores To Cut Jobs

Wal-Mart Stores, Inc. (NYSE:WMT)’s has inched down today after the company announced that it plans to cut some back-office accounting jobs at approximately 500 of its U.S. stores this week. The layoffs are part of the company’s effort to increase efficiency and focused spending on store employees who interact with customers. Billionaire Warren Buffett’s Berkshire Hathaway is one of the 54 hedge funds from our database that reported stakes in Wal-Mart Stores, Inc. (NYSE:WMT) as of the end of March. It owns 55.23 million shares of the company.

AMC Entertainment Holdings Gets an Upgrade

AMC Entertainment Holdings Inc (NYSE:AMC)’s stock climbed more than 1% after financial services firm B. Riley & Co upgraded the company to “Buy” from “Neutral” with a price target of $34.75. B.Riley said that AMC’s acquisition of Carmike Cinemas Inc. (CKEC) will improve the entertainment company’s EBITDA growth during a stronger 2017/2018 box office cycle. As of the end of the first quarter, 15 funds racked by us are bullish on AMC Entertainment Holdings Inc (NYSE:AMC).  Israel Englander’s Millennium Management owns 641,695  shares of the company.

BioTime Selling Common Stock

BioTime, Inc. (NYSEMKT:BTX)’s stock has plunged more than 7% today after it announced to sell shares of its common stock in an underwritten public offering on Wednesday. BioTime is making a public offering of around 7.32 million shares of its common stock at a price $2.39 per share. The gross proceeds from the offering are expected to be around $17.5 million. The offering is expected to close on June 21. Neal C. Bradsher’s Broadwood Capital is the biggest shareholder of BioTime, Inc. (NYSEMKT:BTX), among the funds we track. It has 22.16 million shares of the company as of the end of March.

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