Here’s Why Traders Are Obsessing Over These 5 Stocks Today

Strong Earnings at Dick’s Sporting Goods

Dicks Sporting Goods Inc (NYSE:DKS) shares have surged by more than 7.2% after the retailer beat both top- and bottom-line estimates with its second quarter results. For the period, Dick’s earned $0.82 per share, beating the consensus estimate of $0.69 per share, while revenue was $1.97 billion, up by 8.2% year-over-year, and $90 million better than the consensus mark. Same-store sales rose by 2.8% year-over-year and guidance was strong, with management raising its full-year EPS outlook to $2.90-to-$3.05 from the previous range of $2.60-to-$2.90. John Lykouretzos‘ Hoplite Capital Management upped its stake in Dicks Sporting Goods Inc (NYSE:DKS) by 222% during the second quarter, to 1.88 million shares.

Interest Rate-Sensitive Stocks Trending on Dudley’s Comments

E*TRADE Financial Corp (NASDAQ:ETFC) and Bank of America Corp (NYSE:BAC) are in the spotlight this morning after Federal Reserve Bank of New York President Bill Dudley said the following in a TV interview:

“We’re edging closer toward the point in time where I think it will be appropriate to raise interest rates further.”

According to the interview, Mr. Dudley doesn’t rule out a September rate hike, which was previously unthinkable after Britain’s decision to leave the EU in June. If interest rates rise, both Bank of America and E*TRADE will benefit from greater NIM margins and higher interest income. 39 hedge funds in our system owned shares of E*TRADE Financial Corp (NASDAQ:ETFC) on March 31, while 110 were long Bank of America Corp (NYSE:BAC).

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