The markets are relatively quiet today amid the ongoing earnings season and after the Fed’s decision to keep the interest rates unchanged, but hinting towards an increase in the near future.
In contrast, the shares of five companies, Illumina, Inc. (NASDAQ:ILMN), Goodyear Tire & Rubber Co (NASDAQ:GT), Edwards Lifesciences Corp (NYSE:EW), Quintiles Transnational Holdings Inc (NYSE:Q), and Wyndham Worldwide Corporation (NYSE:WYN) are showing more volatility than the indexes for various reasons. Let’s find out why traders are buying and selling and see what the smart money thinks about each stock.
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Demand Rebounds at Illumina
Illumina, Inc. (NASDAQ:ILMN)’s shares have rocketed more than 8% after the company reported earnings of $0.86 per share on revenue of $600 million for the second quarter, beating the average analyst estimates by $0.13 per share and $6.88 million, respectively. Sales appreciated by 11% year-over-year, as demand for the company’s sequencing consumable and array products strengthened. The gross margin for the quarter inched up to 70.6% from 69.8% year-over-year and Illumina’s management sees adjusted 2016 EPS coming in at $3.48 to $3.58 on sales growth of 12% year-over-year. A total of 35 funds from our database were long Illumina, Inc. (NASDAQ:ILMN) at the end of the first quarter.
Goodyear Earnings Ahead of Expectations
Although its second-quarter revenue of $3.9 million missed analysts’ estimates by $20 million, Goodyear Tire & Rubber Co (NASDAQ:GT)’s shares are almost 4% in the green today as traders bid up the stock due to an earnings beat. For the three months ended June 30, Goodyear earned $1.16 per share, versus estimates of $1.03. Goodyear achieved a 13.9% operating margin for its Americas unit and a 17.4% operating margin for its Asia Pacific segment. In addition, the company completed $100 million worth of share buybacks in the time period and management has reaffirmed previously communicated 2016 financial targets. The number of investors tracked by us with holdings in Goodyear Tire & Rubber Co (NASDAQ:GT) fell by one quarter-over-quarter to 36 at the end of March.
On the next page, we find out why Edwards Lifesciences Corp, Quintiles Transnational Holdings Inc, and Wyndham Worldwide Corporation are trending this afternoon.