Here’s Why These Five Stocks Are Trading Higher Today

The US stock market is trading lower on the last day of the trading week amid a falling dollar and after retail data showed flat growth in July, compared to an anticipated 0.4% increase.

Among the stocks gaining ground on Friday are Nordstrom, Inc. (NYSE:JWN), Acacia Communications, Inc. (NASDAQ:ACIA), Silicon Graphics International Corp (NASDAQ:SGI), Delek US Holdings, Inc. (NYSE:DK), SunRun Inc (NASDAQ:RUN). In this article, we are going to take a look at the news that sent these stocks higher today and assess the hedge fund sentiment towards them.

While there are many metrics that investors can assess in the investment process, hedge fund sentiment is something that is often overlooked. However, hedge funds and other institutional investors allocate significant resources while making their bets and their long-term focus makes them the perfect investors to emulate. This is supported by our research, which determined that following the small-cap stocks that hedge funds are collectively bullish on can help a smaller investor beat the S&P 500 by around 95 basis points per month (see more details here).

Shares of Nordstrom, Inc. (NYSE:JWN) have gained nearly 8% so far today, after the company released its second-quarter results, which included revenue of $3.65 billion, $30 million lower than expected, while EPS of $0.67 was higher than the expected $0.56. The company also said comparable store sales were down by 1.2% during the quarter. Among the investors we track, 21 funds had a position in Nordstrom, Inc. (NYSE:JWN) at the end of first quarter of 2016.

Acacia Communications, Inc. (NASDAQ:ACIA)’s stock has surged by nearly 33% also on the back of the company’s second-quarter results. The main reason for the jump in the stock price is the 101% annual surge in revenue to $116.2 million, while EPS of $0.77 was significantly higher than the $0.19 reported for the same quarter last year. For the current quarter, Acacia Communications, Inc. (NASDAQ:ACIA) expects revenue to be in the range of $120 million to $128 million and EPS between $0.64 and $0.76.

On the next page, we are going to discuss Silicon Graphics International Corp (NASDAQ:SGI), Delek US Holdings, Inc. (NYSE:DK), and SunRun Inc (NASDAQ:RUN).

Silicon Graphics International Corp (NASDAQ:SGI) is trading almost 29% higher following the release of the company’s results for the fourth quarter of fiscal 2016. The company reported revenue of $123 million, versus $120.69 million expected by analysts, while EPS of $0.08 topped the estimates by $0.07. The number of investors followed by our team that held shares of Silicon Graphics International Corp (NASDAQ:SGI) decreased to four from seven during the first quarter.

Delek US Holdings, Inc. (NYSE:DK) is trading up by 13.57% after the New York Post reported that CVR Energy, Inc. (NYSE:CVI) is planning to make an offer to acquire Delek. The reports also stated that Billionaire Investor Carl Icahn, who owns a controlling stake in CVR Energy and sits on the board, is also interested in building a personal stake in Delek. Heading into the second quarter, 18 funds tracked by Insider Monkey were bullish on Delek US Holdings, Inc. (NYSE:DK).

Finally, SunRun Inc (NASDAQ:RUN) is 17% in the green after the company posted second-quarter revenue of $122.54 million, above the consensus estimate of $111.15 million, while EPS of $0.31 topped the expected loss of $0.40. The company said its total deployments stood at 65 MW in the quarter, which represented an increase of 54% year-on-year, while net bookings stood at 74 MW and went up by 21% on the year. Among the funds we track, 13 funds held shares of SunRun Inc (NASDAQ:RUN) at the end of March.

Disclosure: None