Bon-Ton Stores Inc. (NASDAQ:BONT), Straight Path Communications Inc. (NYSEMKT:STRP), Genetic Technologies Limited (NASDAQ:GENE) and Guess’ Inc. (NYSE:GES) are trading in positive territory as trading winds down this afternoon with the Thanksgiving holiday looming tomorrow. We’ll take a closer look at the news behind the strong performance of these stocks today and see how the funds from our database have been trading them of late.
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After announcing an exclusive online sale, Bon-Ton Stores Inc. (NASDAQ:BONT) found itself soaring by 36.93%. Bon-Ton Stores Inc. (NASDAQ:BONT), which offers national and private brand fashion apparel and accessories, as well as cosmetics and home furnishings, said the “Cyber Monday” sale will run from Sunday, November 29 through Monday, November 30. The deal allows customers to cut $50 off their online purchases of $100 or more. In addition, customers can use a 25% off savings pass on sale-priced merchandise and shop over 200 store-wide bonuses available in stores and online. Cyber Monday offers will be available through the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s, and Younkers brands.
Through the end of September, 8 funds out of the 730 in Insider Monkey’s database held 24.00% of the company’s outstanding shares. Top investor Brigade Capital, managed by Don Morgan, holds 1.8 million shares of Bon-Ton.
Straight Path Communications Inc. (NYSEMKT:STRP)’s shares have risen by 31.07% after the U.S Court of Appeals ruled in the company’s favor regarding a patent violation, rejecting a claim construction that had previously been central to the USPTO Appeal Board’s decision that went against Straight Path. That continues a good run for the stock this week that followed independent investor Lloyd Miller III revealing ownership of 854,784 shares or 7.5% of the company’s class B common stock. Separately, Straight Path Communications Inc. (NYSEMKT:STRP) notified its investors that it will hold its annual shareholder meeting on Tuesday, January 12, 2016.
According to Insider Monkey’s data, 13 funds that we track held 13.70% of the company’s outstanding stock through the end of September. Point State Capital, a fund managed by Zach Schreiber, holds 500,000 shares of Straight Path worth $20 million.
Genetic Technologies Limited (NASDAQ:GENE) is up by 28.38% this afternoon following its 2015 annual general meeting of shareholders where seven resolutions were passed. Some of the takeaways from the meeting include the re-election of Malcolm Brandon; the election of Eutillio Buccilli; and the ratification of a prior placement of shares to sophisticated investors. On November 23, Genetic Technologies Limited (NASDAQ:GENE) announced a publication that evaluated its BREVAGenplus® breast cancer risk assessment test, which also validated its applicability for use by African-American and Hispanic women. Two funds in our database held 3.50% of the company’s outstanding stock at the end of September.
Guess? Inc. (NYSE:GES) shares are up by 8.14% despite lower fiscal third-quarter 2015 results, including 7% lower retail revenue in the U.S, 15% lower revenue in Europe, and 17% lower revenue in Asia. Guess? Inc. (NYSE:GES) booked net earnings of $12.4 million, or $0.15 per share for the three months ended October 31, compared to $20.9 million, or $0.24 per share for the period ended November 1, 2014. Meanwhile, net revenue was reported at $520 million for the most recent quarter, compared to $589 million for the prior-year period.
Looking at Insider Monkey’s database, 15 funds held 8.40% of the company’s outstanding stock at the end of September. Gotham Asset Management, a hedge fund managed by Joel Greenblatt, holds 2.37 million shares of the company.