Why These Four Stocks Are Trading Higher on Friday

Qorvo Inc (NASDAQ:QRVO) has seen a positive leap on the board after yesterday it reported its fiscal 2016 second quarter net income of $4.4 million, or 3 cents, compared to $2.0 million, or 1 cent from the prior-year period. Qorvo, a provider of core technologies and RF solutions for mobile, infrastructure and aerospace/defense applications, opened the markets at $50.60. The company also announced that it intends to offer $1 billion of senior notes in a private offering. The proposed notes, the company said, are due 2023 and 2035, and will be senior unsecured obligations of Qorvo, according to a Form 8-K filed November 6. Qorvo Inc (NASDAQ:QRVO) expects to use the net proceeds of the offering for general corporate purposes, including share repurchases and repayment of any amounts outstanding under its revolving credit facility. During the second quarter, the number of funds bullish on Qorvo went up by five to 34 and they held 8.20% of the company at the end of June.

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) rose 7.78% to $35.62, after beating expectations for its second fiscal quarter ended September 30. The company reported non-GAAP net income of $32.7 million, or $0.30 per share, compared to a non-GAAP net loss of $35.4 million, or $0.44, for the year-ago period.

“Our second quarter results were anchored by the series record-breaking launch of NBA 2K16, along with ongoing demand for Grand Theft Auto V and strong growth in recurrent consumer spending,” Take-Two Chairman and CEO Strauss Zelnick said.

Additionally, Take-Two Interactive Software, Inc. (NASDAQ:TTWO) released an initial financial outlook for its fiscal third quarter ending December 31, with a non-GAAP net income of $0.40 to $0.50 per share, as well as a non-GAAP net revenue of $400 million to $450 million. In Take-Two, 40 funds from our database reported stakes as of the end of June, up from 34 a quarter earlier. These funds held over 37% of the company at the end of the second quarter.

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