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Why Dean Foods, Bristol-Myers, and Three Other Stocks Are on the Move Today

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US stocks are trading slightly lower on Monday afternoon, as the major indexes retrieved from all-time highs reached on Friday, and a spike in energy stocks was not enough to counter the decline seen in the healthcare segment.

Among the stocks on the move today are Dean Foods Co (NYSE:DF), Bristol-Myers Squibb Co (NYSE:BMY), Netflix, Inc. (NASDAQ:NFLX), Chesapeake Energy Corporation (NYSE:CHK) and Ceragon Networks Ltd (NASDAQ:CRNT). In this article we’ll take a look into the news behind the moves registered by these stocks, and see what the funds in our database think about the companies in question.

Through extensive research that covered the portfolios of several hundred large investors between 1999 and 2012, we determined that following the small-cap stocks that large money managers are collectively bullish on, can generate monthly returns nearly 1.0 percentage points above the market (see the details here).

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Dean Foods Tumbles On Disappointing Quarter

Let’s start with Dean Foods Co (NYSE:DF), which has tumbled by nearly 4%, after the company reported its second-quarter results. The firm posted revenue of $1.85 billion, down by 8% year-over-year, but in line with expectations, while EPS of $0.38 missed the estimates by $0.02. However, not only the earnings miss was weighing on the stock; a 3.2% drop in total volume and a 10 basis points slip in its share of US fluid milk volumes were also negatively received by investors. For the third quarter, management said it expects diluted EPS of $0.28 to $0.36, adjusted EPS of $0.32 to $0.40, and a decline in total volumes in the low single digits. At the end of the first quarter, Dean Foods Co (NYSE:DF) saw 20 funds in our database holding long positions. Among them was Israel Englander’s Millennium Management, with 2.67 million shares, and Cliff Asness’ AQR Capital Management, with 2.61 million shares.

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Bristol-Myers Opdivo Fails Trials

Next up is Bristol-Myers Squibb Co (NYSE:BMY), which has lost around 4.7% so far today, extending last week’s losses, which were prompted by disappointing trial results from its late-stage clinical trial of Opdivo for lung cancer. Also pushing the shares down was a downgrade from Credit Suisse, which cut its rating to ‘Neutral’ from ‘Outperform’, while trimming its price target to $63 from $86. Conversely, the firm upgraded competitor Merck & Co., Inc. (NYSE:MRK) to ‘Outperform’ from ‘Neutral’, boosting its price target by $11 to $73. A total of 59 funds among those we track were long Bristol-Myers Squibb Co (NYSE:BMY) at the end of March. This group included Ken Griffin’s Citadel Advisors, which last disclosed ownership of 5.02 million shares as of the end of the first quarter.

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