Why Allergan, eBay, Dynavax, KBR, and More Are Trending

KBR, Inc. (NYSE:KBR) shares have retreated by 12% this morning after the company updated its earnings guidance for 2016 to reflect certain increases in expenses needed to complete various engineering, procurement and construction projects. Due to those increases, KBR’s management now expects 2016 EPS to come in at between $0.30 and $0.50 per diluted share, well beneath the prior range of $1.20-to-$1.45 (when excluding legal costs associated with certain legacy government contracts). 24 funds in our system had a long position in KBR, Inc. (NYSE:KBR) as of the most recent 13F reporting period, down by four funds from the March reporting period.

Dynavax Technologies Corporation (NASDAQ:DVAX) is 20% in the green after the company disclosed in a Form 8-K filing that it received anticipated requests for information from the FDA review team concerning its pending BLA for HEPLISAV-B. The company is working with the FDA so that the agency can complete its review by the PDUFA action date of December 15, 2016. The smart money was relatively bullish on Dynavax Technologies Corporation (NASDAQ:DVAX) as of June 30, as 23 funds that we track were long $184.69 million worth of Dynavax Technologies Corporation (NASDAQ:DVAX) shares, or 32.90% of the drug company’s float.

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