Why These 5 Stocks Tumbled As Markets Surged Today

Another stock that is trading down on Friday is Nimble Storage Inc (NYSE:NMBL), which has lost 12% in the early afternoon hours. The tumble followed the announcement of the company’s fourth quarter financial results. The company’s net loss of $0.12 per share was in-line with expectations, while its revenue of $90.09 million, up by 32% year-over-year, came in $1.88 million ahead of estimates. However, guidance for the first quarter disappointed investors and analysts alike. Management said it expects first quarter revenue of $83 million-to-$86 million and a net loss of $0.25-to-$0.27 per share, while the Street’s consensus had pegged Nmble Storage’s first quarter revenue to be $85.6 million with a loss of $0.16 per share in earnings.

Taking into account today’s drop, Nimble Storage Inc (NYSE:NMBL)’s stock has lost more than 21% in 2016, making 21 funds among those we track quite unhappy. Among them is Brett Barakett’s Tremblant Capital, which declared holding 3.45 million shares of the company as of December 31, which made it one of the top-five institutional shareholders of the company on record as of that date.

Vitae Pharmaceuticals Inc (NASDAQ:VTAE) is one of the biggest losers of the day, down by more than 52% in the early afternoon. The main news driving the decline appears to be the company’s fourth quarter earnings call. On Thursday evening, the clinical stage biotechnology company posted a net loss of $0.52 per share, $0.10 better than expected; however, revenue of $92,000, down by 42.8% year-over-year, fell about $30,000 short of expectations. In addition, Stifel Nicolaus downgraded its rating on the stock to ‘Hold’ from ‘Buy’ this morning.

Phil Gross and Robert Atchinson can’t be pleased with the developments, as their fund, Adage Capital Partners had ownership of 2.15 million shares of Vitae Pharmaceuticals Inc (NASDAQ:VTAE) as of the end of the fourth quarter, after its holding in company being boosted by 51% over the period.

Finally, there’s Clean Energy Fuels Corp (NASDAQ:CLNE), which is down by about 7.25% today despite having handily beaten analyst expectations with its fourth quarter financial results on Thursday evening. Earnings of $0.08 per share came in $0.18 ahead of consensus, while revenue of $119.3 million beat estimates by $16.53 million.

Among the investment firms that we track, D E Shaw held the largest stake in Clean Energy Fuels Corp (NASDAQ:CLNE) by the end of the fourth quarter, owning 1.31 million shares. On February 16, Kevin Michael Ulrich‘s Anchorage Advisors disclosed a new position in the company comprising 6.69 million shares; this made it the largest institutional investor of the stock at that time.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned in this article.