Why Are These Four Stocks Surging on Friday?

Trimble Navigation Limited (NASDAQ:TRMB) shares jumped by 20% in late morning trading after the company reported third quarter earnings of $0.30 per share on revenues of $562.3 million (down by 3.8% year-over-year), beating estimates by $0.07 per share and $16.43 million, respectively. Gross margin fell by 0.4 percentage points year-over-year to 57.4%, while operating expenses fell even further by approximately 1% year-over-year to $217.7 million. For the fourth quarter, the company projects EPS in the range of $0.19 to $0.26 and revenue between $520 million and $550 million, versus analyst expectations of $0.25 and $557.4 million, respectively. Shares were at one point down by almost 40% year-to-date as low commodity and energy prices weighted in, but are now down by just 15% lower year-to-date because of today’s rally. Among the funds we track, during the second quarter, the number of funds long Trimble Navigation decreased to 18 from 20, but the total value of their holdings in the stock increased to $293.92 million (representing 4.80% of the float) from $249.64 million.

Imperva Inc (NYSE:IMPV) is up by 18.34% after reporting third-quarter earnings of $0.19 per share on revenues of $63.35 million (up 48.4% year-over-year), beating estimates by $0.24 per share and $6.85 million, respectively. Combined subscription and product revenue rose 64% year-over-year, while total deferred revenue (as of September 30) jumped by 32% year-over-year to $91.3 million. Guidance is solid, with management expecting fourth-quarter revenue between $66 million and $68 million and non-GAAP adjusted EPS of $0.10-$0.16 versus expectations of $62.25 million and a loss of $0.06 per share. A total of 23 funds held stakes worth $176.5 million (accounting for 8.50% of the shares) at the end of June, up from 21 funds and $120.72 million at the end of March.

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