Here’s Why These Five Stocks Are on the Move Today

HNI Corp (NYSE:HNI) shares are more than one fifth lower today after its management updated earnings guidance for the third quarter and fiscal year 2016. Due to slower-than-expected housing starts, acquisition integration and the continued decline in pellet appliance demand, management now expects adjusted EPS for the third quarter to be in the range of $0.74-$0.79 versus previous guidance of $0.90-$0.95. In addition, management expects adjusted full-year EPS to be in the range of $2.50 to $2.70 versus the prior guidance of $2.80 to $2.95. A total of 11 funds from our database owned shares of HNI Corp (NYSE:HNI) at the end of the second quarter, down by three funds from the previous quarter.

DTS Inc. (NASDAQ:DTSI) has surged by 23% after Tessera Technologies, Inc. (NASDAQ:TSRA) agreed to buy the company for $42.50 per share in cash (for a total transaction value of around $850 million). Tessera management expects the purchase to be immediately accretive to EPS and cash flow and to yield $15 million in annualized synergies within the first 12 to 18 months after closing. According to our data, seven smart money investors had a bullish position in DTS Inc. (NASDAQ:DTSI) at the end of the second quarter, unchanged from the previous quarter. Meanwhile, 28 funds owned shares of Tessera Technologies, Inc. (NASDAQ:TSRA) at the end of June, up by two funds from the previous quarter.

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