Market vibes are mixed on Friday as investors reassess the possibility of a Brexit amid the suspension of the referendum debate following the murder of a British lawmaker.
Several stocks are making headlines today, including Smith & Wesson Holding Corp (NASDAQ:SWHC), Oracle Corporation (NYSE:ORCL), Finisar Corporation (NASDAQ:FNSR), Paratek Pharmaceuticals Inc (NASDAQ:PRTK), and BP plc (ADR) (NYSE:BP). Let’s find out why these stocks are on the move today and analyze the hedge fund sentiment towards them.
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Smith & Wesson Beats Estimates
Shares of Smith & Wesson Holding Corp (NASDAQ:SWHC) are gaining after the company posted better-than-expected fiscal fourth-quarter results. The Massachusetts-based manufacturer of firearms posted EPS of $0.66, better than the analysts’ estimate of $0.54. Revenue in the quarter came in at $221.1 million, topping the consensus estimate of $214.55 million. For full fiscal 2017, the company expects its EPS in the range of $1.83 to $1.93, versus the estimates of $1.66. During the earnings call, James Debney, Smith & Wesson’s CEO, said that strong quarterly results are in line with the company’s vision of becoming a leading provider of quality products for shooting, hunting and outdoors. As of the end of the first quarter, 24 hedge funds from our data are long Smith & Wesson Holding Corp (NASDAQ:SWHC), down from 27 funds a quarter earlier. Donald Chiboucis’s Columbus Circle Investors owns 474,369 shares of the company.
Oracle Posts Strong Quarter
Oracle Corporation (NYSE:ORCL)’s stock has advanced by over 2% today after the company met earnings estimates and posted better-than-expected revenue for the fiscal fourth quarter. Oracle’s sales got a boost due to increasing cloud SaaS business. Oracle posted EPS of $0.81, in line with the consensus estimates. Revenue in the quarter came in at $10.71 billion, topping the estimated $10.47 billion. In a statement, Oracle’s CEO Safra Catz said that the company implemented the “accelerated buying experience” using which the customers can buy and start using company’s services and products quickly. He added that Oracle’s growth in Asia Pacific is “superb” and demand is strong in Europe. Among the funds tracked by Insider Monkey, 62 funds amassed around $7.9 billion worth of Oracle Corporation (NYSE:ORCL)’s stock at the end of March. Robert Rodriguez and Steven Romick First’s Pacific Advisors owns more than 25 million shares of the company.
We will discuss Finisar, Paratek and BP on the next page.