Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Sanmina, Invivo, Knowles, NXP Semiconductors and The Container Store Are Top Gainers Today: Here’s Why

Page 1 of 2

The markets are flattish on Tuesday, although energy stocks are surging on the back of higher oil prices and the dollar is falling on weaker-than-expected U.S economic data, which has raised expectations of interest rates remaining low for some time. However, as usual, a few stocks are still posting big upward moves today. Among them, we can count Sanmina Corp (NASDAQ:SANM), Invivo Therapeutics Holdings Corp (NASDAQ:NVIV), Knowles Corp (NYSE:KN), Container Store Group Inc (NYSE:TCS), and NXP Semiconductors NV (NASDAQ:NXPI), all of which are trading considerably up on Tuesday afternoon. Let’s take a look into the events driving these spikes, and also see what the hedge funds in our database think about these companies.

Our research has shown that the best strategy is to follow hedge funds into their small-cap picks. This approach can allow monthly returns of nearly 95 basis points above the market, as we determined through extensive backtests covering the period between 1999 and 2012 (see the details here).

Sanmina Spikes on Strong Results and Guidance

Let’s start with Sanmina Corp (NASDAQ:SANM), which is roughly 10.5% in the green in Tuesday trading, triggered by the announcement of the company’s second quarter of fiscal year 2016 financial results after the market closed on Monday. The small-cap tech firm posted EPS of $0.63, beating the Street’s consensus by $0.06. Revenue of $1.61 billion also came in ahead of expectations, by $10 million. Guidance for the ongoing quarter also helped the stock, as management now expects EPS of $0.61-to-$0.65 on revenue of $1.625 billion-to-$1.675 billion, which stand above the Street’s consensus estimates of $0.60 and $1.623 billion respectively.

As of the end of the fourth quarter of 2015, Sanmina Corp (NASDAQ:SANM) counted 15 hedge fund supporters among those we track. Among them, we could highlight Joel Greenblatt’s Gotham Asset Management, which ownership of 1.02 million shares of the company worth almost $22 million by December 31.

Follow Sanmina Corp (NASDAQ:SANM)
Trade (NASDAQ:SANM) Now!

Significant Advance in Spinal Injury Treatment

Next in line is Invivo Therapeutics Holdings Corp (NASDAQ:NVIV), which is up by approximately 16.9% on more than double its average trading volume by early Tuesday afternoon. The stock is reacting to the announcement of positive results from the company’s Phase 3 INSPIRE study assessing its Neuro-Spinal Scaffold in patients with complete (AIS A) thoracic spinal cord injuries at the time of registration. A fourth patient, out of a total of six, has transitioned from AIS A status (complete spinal cord injury) to AIS B status (incomplete spinal cord injury). This implies a response rate of 67%.

On February 12, Hal Mintz’s Sabby Management disclosed a new stake in Invivo Therapeutics Holdings Corp (NASDAQ:NVIV), comprising 507,100 shares. That position makes it one of the top five institutional investors of record to date.

Follow Invivo Therapeutics Holdings Corp. (NASDAQ:NVIV)
Trade (NASDAQ:NVIV) Now!

We take a look at three more trending stocks on the next page.

Page 1 of 2
Loading Comments...