Five Stocks on the Move Today Amid a Mixed Market

AMD Giving Up Tuesday’s Gains

Among Wednesday’s big decliners was Advanced Micro Devices, Inc. (NASDAQ:AMD), which has lost more than 8% today, giving up the 6.86% gain posted on Tuesday. Volume was above average, although no significant news seem to be behind the drop. A total of 13 funds among those we track were long Advanced Micro Devices, Inc. (NASDAQ:AMD) at the end of the first quarter of 2016. Among them were D E Shaw, which held 4.68 million shares. and Jim Simons’ Renaissance Technologies, which disclosed ownership of 794,400 shares.

EIA Crude Inventories Data Hurts Marathon

Shares of Marathon Oil Corporation (NYSE:MRO) are trading down on Wednesday, in what seems to be a general decline in the oil industry following the release of U.S. crude inventories data. According to the Energy Information Administration (EIA), crude inventories declined by 900,000 barrels over last week, falling short of expectations of a drop of some 1.6 million barrels. Nonetheless, the American Petroleum Institute, said on late Tuesday that U.S. crude stockpiles slipped by 5.2 million barrels. One way or another, crude prices turned red following the release of the EIA report, and are now trading below $50 per barrel again. Among the funds we track, 33 were long Marathon Oil Corporation (NYSE:MRO) at the end of the first quarter of 2016, up from 27 in the previous quarter. Among the newcomers were Stuart J. Zimmer’s Zimmer Partners, which acquired more than 14 million shares (or about $156 million in stock) during the first quarter, and Israel Englander’s Millennium Management, which initiated a stake comprising 10.33 million shares over the January-March period.

Cobalt International Energy Also Hit By EIA Data

Finally, there’s Cobalt International Energy, Inc. (NYSE:CIE), which has also tumbled, about 5%, on Wednesday, following the release of the EIA crude inventories data. Gene McGillian, an analyst at Tradition Energy explained that, “the disappointment on the lack of a sizable draw in crude stocks has taken some wind out of the market’s sails.” Cobalt International Energy, Inc. (NYSE:CIE) counted 25 funds in our database holding shares at the end of March. Their stakes accounted for more than 30% of the company’s float at the time.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.