Disappointing trade figures out of China have investors on edge this morning as the trading week kicks off. Exports from the country dipped by 4.4% year-over-year in July, while imports crumbled by 12.5%. While the figures have some blaming the Brexit, Chinese exports also slid by 4.8% in June.
Among the companies grabbing investors’ attention this morning are Wal-Mart, Image Sensing Systems, Horizon Pharma, MEI Pharma, and Oasis Petroleum. We’ll take a look at what’s happening with these companies below and see how hedge funds have been trading their stocks recently.
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Wal-Mart Making a Move on Amazon?
Wal-Mart Stores, Inc. (NYSE:WMT) initially spiked upon the ringing of the opening bell, but has since fallen to losses of 0.71% on the day after the retail giant announced the acquisition of Jet.com for $3 billion in cash. The purchase of the e-commerce startup further solidifies Wal-Mart’s attempts to take on Amazon.com, Inc. (NASDAQ:AMZN) head-to-head in the e-commerce arena. Among other things, the company has greatly expanded its e-commerce capabilities with the building of several large distribution centers and recently unveiled a delivery subscription service similar to Amazon’s Prime. Warren Buffett‘s Berkshire Hathaway owned more than 55 million shares of Wal-Mart Stores, Inc. (NYSE:WMT) at the end of March.
Image Sensing Systems Soars on Q2 Results
Image Sensing Systems Inc (NASDAQ:ISNS) has gained over 100% today thanks to its strong second quarter results that were released after the close of trading on Friday. Revenue was $4.7 million, up from $4.4 million a year earlier, while EPS jumped to $0.24 year-over-year from $0.13. Strong adoption of the company’s Sx-300 radar product helped it to achieve solid boosts in sales and sales margins during the quarter, and it has a next generation video detection device planned for release in the fourth quarter. Jim Simons‘ Renaissance Technologies owned 49,800 shares of Image Sensing Systems Inc (NASDAQ:ISNS) on June 30, up by 49% from the start of the second quarter.
We’ll check out what’s happening with three other trending stocks today on the next page.