Investors Are Abuzz About These 4 Stocks Today; Here’s Why

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Shares of Noble Corp plc (NYSE:NE) have advanced by 4.80% today after the drilling company’s third quarter earnings easily beat the Zacks Consensus Estimate. Revenue came in at $897 million, toppling estimates of $759 million, while earnings came in at $0.72 per share, beating estimates by 33%. Furthermore, Noble Corp lowered its capital expenditure guidance for 2015 by $135 million to $450 million. A popular energy sector dividend stock, Noble Corp plc (NYSE:NE) pays out a $0.15 quarterly dividend. Though cut from the former payment of $0.38, it still represents an attractive yield of 4.72%. Given the impressive beat, management’s successful efforts to cut costs, and the firm’s P/E of just 15.98, Noble may not be getting full credit from the market today and could be due for further gains.  27 investors that we track are long Noble Corp, including billionaire Steve Cohen, who opened a large 3.87 million-share position in the stock in the second quarter.

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We close with a look at Echo Global Logistics, Inc. (NASDAQ:ECHO), up by a none-too-shabby 36.35% today. The Chicago-based supply chain management services company posted adjusted earnings of $0.34 per share, topping the $0.32 estimates. Its $450 million in revenue did fall short of estimates by $3.3 million however. Following the earnings release, Cowen and Company bumped up its price target on the stock to $27 from $26, while BB&T Capital Mkts upgraded it to ‘Buy’ from ‘Hold’, and has a $26 price target on the stock. Interest in Echo Global Logistics, Inc. (NASDAQ:ECHO) among the investors we track was growing stronger in the second quarter, with the number of long positions jumping to 19 from nine. Those investors still held just 6.20% of the company’s shares though, and none of the positions was particularly large, suggesting no investor felt overly bullish about the company. The market reaction today appears to be overdone, though it only pushes shares back up to their mid-September levels and still leaves them down by 19.5% year-to-date.

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Disclosure: None

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