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Why Are These Five Stocks Buzzing Today?

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On the third trading day of the week, crude futures have now rallied above $45 per barrel while the Dow Jones and S&P 500 futures are modestly lower as the earnings reports of several tech giants weigh down the indices. In this article, we take a closer look at the latest financial results of United Technologies Corporation (NYSE:UTX), Baker Hughes Incorporated (NYSE:BHI), Boeing Co (NYSE:BA), Anthem Inc (NYSE:ANTM), and AT&T Inc. (NYSE:T). In addition, we are going to analyze how the smart money is positioned in each stock.

At Insider Monkey, we track almost 800 hedge funds and other institutional investors. Through extensive backtests, we have determined that imitating some of the stocks that these investors are collectively bullish on, can help retail investors generate double digits of alpha per year. The key is to focus on the small-cap picks of these funds, which are usually less followed by the broader market and allow for larger price inefficiencies (see the details here).

United Technologies Corporation Turns in Excellent Quarter

United Technologies Corporation (NYSE:UTX) is 0.5% higher after the industrial giant reported EPS of $1.47 on sales of $13.36 billion, beating estimates by $0.08 and $180 million, respectively. Although sales grew only 0.3% year-over-year, as a strong dollar weighed on United’s business, the company’s EPS might grow faster due to share buybacks. United Technologies announced additional share repurchases worth $3 billion in 2016 beyond the buybacks that will be completed under the company’s previously announced $6 billion program. For the full year, the company expects EPS in the range of $6.30 to $6.60 and plans acquisitions worth between $1 billion and $2 billion. Ken Fisher’s Fisher Asset Management reported holding 8.38 million shares of United Technologies Corporation (NYSE:UTX) in its 13F filing for the end of the first quarter.

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Traders Sell Baker Hughes After Lousy First-Quarter Numbers

The low crude oil prices are having a big effect on Baker Hughes Incorporated (NYSE:BHI)‘s business, as the service giant reported a first quarter loss of $1.58 per share on sales of $2.7 billion, which were $1.24 and $150 million below estimates. Sales dropped 42% year-over-year due to the 41% year-over-year global rig count drop and reduced pricing in most markets. Adjusted EBITDA retreated 76% year-over-year to $108 million. Investors hope Baker Hughes Incorporated (NYSE:BHI)’s numbers get better as crude oil rallies. Jeffrey Ubben’s ValueAct Capital was bullish on the company with a holding of over 23 million shares at the end of 2015. Shares of Baker Hughes opened around 4% in red, but have regained some ground.

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On the next page, we examine the last-quarter results posted by Boeing, Anthem, and AT&T.

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