Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Why Korn/Ferry, AMD, Wells Fargo & Two Other Stocks Are in Spotlight Today

Page 1 of 2

U.S. markets continue to lose ground on Thursday, marking the sixth consecutive day of losses. The decline seems to be driven by Brexit fears, slipping oil prices and a sell-off in Japanese stocks. However, as usual, individual stocks are moving significantly than the rest of the market. In this article, we are going to look into five companies, Korn/Ferry International (NYSE:KFY), GlobeImmune Inc (NASDAQ:GBIM), Advanced Micro Devices, Inc. (NASDAQ:AMD), Teekay Offshore Partners L.P. (NYSE:TOO) and Wells Fargo & Co (NYSE:WFC), which are in the spotlight on Thursday afternoon.

At Insider Monkey, we track around 730 hedge funds and 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 more details about our small-cap strategy). This is why, in addition to evaluating the events surrounding these five stocks, we will look into what the hedge funds in our database think about the companies in question.

stock, market, business, app, shares, share, news, global, man, phone, big, graph, chart, using, screen, fast, motion, concept, internet, up, tablet, touching, technology,

solarseven/Shutterstock.com

Korn/Ferry Down On Disappointing Guidance, Downgrade

Let’s start with Korn/Ferry International (NYSE:KFY), which is down by almost 20% on Thursday afternoon, following the announcement of the company’s fiscal fourth-quarter financial results. EPS of $0.58 and revenue of $417.1 million, up by 47.8% year-over-year, came in ahead of the Street’s consensus estimates of $0.62 and $446.46 million, respectively. However, guidance for the ongoing quarter disappointed analysts: management said it expects EPS in the range of $0.50 to $0.58 on revenue of $371 million to $391 million, while analysts expected EPS of $0.58 on sales of $384.9 million. Also impacting on the stock is a downgrade issued by Baird on Thursday, to Neutral from Outperform. Among the funds we track, 15 held long positions in Korn/Ferry International (NYSE:KFY) at the end of the first quarter of 2016. Among them, Chuck Royce’s Royce & Associates still seemed bullish, as it last disclosed ownership of 914,494 shares of the company, or roughly $25.8 million in stock, held as of March 31.

Follow Korn Ferry International (NYSE:KFY)
Trade (NYSE:KFY) Now!

GlobeImmune Soars On Takeover Speculation

Next up is GlobeImmune Inc (NASDAQ:GBIM), which is up by 39% on Thursday, and more than 62% since Monday, apparently on speculation regarding a takeover. The company has until July 1 to present a plan to comply with an unmet NASDAQ rule, and it seems like a buyout could provide a good way out of this pickle. As a thinly-traded nano-cap, GlobeImmune Inc (NASDAQ:GBIM) is not particularly popular among institutional investors. In fact, only 10 institutional investors disclosed long equity positions as of the end of the first quarter.

Follow Globeimmune Inc (NASDAQ:GBIM)
Trade (NASDAQ:GBIM) Now!

On the next page we will look into three more stocks posting big moves on Thursday afternoon.

Page 1 of 2
Loading Comments...