It’s shaping up to be a rough close to the week for the markets today, as all three major indexes are firmly in the red this morning, with the Dow getting the worst of it, down by 0.42%. Among the stocks that have investors and analysts buzzing this morning are Sony Corp (ADR) (NYSE:SNE), ArcelorMittal SA (ADR) (NYSE:MT), UBS Group AG (USA) (NYSE:UBS), Lions Gate Entertainment Corp. (USA) (NYSE:LGF), and Newell Brands Inc (NYSE:NWL). Without further ado, let’s take a closer look at why each stock is trending and see what the world’s greatest investors think of these five companies.
At Insider Monkey, we track around 765 hedge funds and 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. The key is to focus on the small-cap picks of these funds, which are usually less followed by the broader market and allow for larger price inefficiencies (see the details here).
Sony Corp Reports Results
Sony Corp (ADR) (NYSE:SNE) shares are a hearty 7.63% in the green this morning after the electronics conglomerate reported first quarter of fiscal year 2016 EPS of ¥16.44 ($0.16) on sales of ¥1.61 trillion ($15.68 billion), despite those figures being well below the ¥70.36 ($0.69) and ¥1.808 trillion ($17.53 billion) marks respective that it pulled in during the first quarter of fiscal year 2015. Management sees net income attributable to stockholders of ¥80 billion ($779 million) for the full fiscal year, down from the previous estimate of ¥147.8 billion ($1.44 billion). Jim Simons‘ Renaissance Technologies owned almost 2.00 million shares of Sony Corp (ADR) (NYSE:SNE) at the end of the first quarter.
ArcelorMittal Earnings Ahead of Estimates
Shares of ArcelorMittal SA (ADR) (NYSE:MT) have popped by almost 5% today after the company reported strong second quarter earnings of $0.38 per share, beating analyst consensus estimate by $0.31 per share. Although revenue missed by $450 million to come in at $14.75 billion for the period, sales nevertheless increased quarter-over-quarter as the more supportive pricing environment benefited the top-line. Due to improved market conditions, ArcelorMittal expects cash flows from operating activities to exceed capex in 2016. Of the 766 active hedge funds that we track, 21 funds owned $235.21 million in ArcelorMittal SA (ADR) (NYSE:MT) positions on March 31, up from 16 funds with $194.79 million worth of holdings on December 31.
On the next page we’ll examine the latest concerning UBS Group, Lions Gate Entertainment, and Newell Brands.