Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

A Look Into Friday’s Top Earnings Reports: The Good, The Bad, and The Ugly

Page 1 of 2

U.S. stocks are mixed in Friday trading, as oil tumbled and earnings have largely failed to impress. Among the companies that reported their financial results for their latest completed quarter this morning were General Electric Company (NYSE:GE), Gentex Corporation (NASDAQ:GNTX), Honeywell International Inc. (NYSE:HON), Moody’s Corporation (NYSE:MCO), and SunTrust Banks, Inc. (NYSE:STI). Let’s take a look into some of the most relevant figures, and see what the hedge funds in our database think about the companies in question.

At Insider Monkey, we track around 765 hedge funds and other institutional investors. Through extensive backtests, we have determined that imitating some of the stocks that these investors are collectively bullish on can help retail investors generate double digits of alpha per year (see more details about our small-cap strategy).

Pavel Ignatov/Shutterstock.com

Pavel Ignatov/Shutterstock.com

GE Fails To Impress Despite Record Earnings Growth

Let’s start with General Electric Company (NYSE:GE), which has lost roughly 2.25% today even though it posted a top and bottom-line beat before the market opened. Second quarter EPS of $0.51, up by 64% year-over-year, and revenue of $33.5 billion, up by 15% year-over-year, beat the Street’s consensus estimates by $0.05 and $1.74 billion, respectively. However, a 2% decline in orders amidst what management described as a “volatile and slow-growth economy,” weighed on the stock. Feebleness in its core industrial business was an additional source of concern for investors, although company execs predicted a rebound during the second half of the year.

Among the more than 765 funds that we track, 64 were long General Electric Company (NYSE:GE) at the end of the first quarter. Nelson Peltz’s Trian Fund Management disclosed ownership of 74.24 million shares of the company valued at more than $2.3 billion as of March 31.

Follow General Electric Co (NYSE:GE)
Trade (NYSE:GE) Now!

Gentex Spikes On Double-Beat

Next up is Gentex Corporation (NASDAQ:GNTX), which is up by roughly 5.4% on Friday, driven by a double beat with its second quarter results. EPS of $0.30 beat the consensus estimate by $0.01, while revenue of $423.8 million, up by 11.7% year-over-year, came in $6.81 million above expectations. For the full year, management guided for revenue in the range of $1.68 billion to $1.72 billion.

15 funds in our database held long positions in Gentex Corporation (NASDAQ:GNTX) at the end of the first quarter. Among them, we can count Chuck Royce’s Royce & Associates, which owned 7.23 million shares when March reached its conclusion.

Follow Gentex Corp (NASDAQ:GNTX)
Trade (NASDAQ:GNTX) Now!

We’ll dissect the earnings reports released by three other companies this morning on the next page.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!