A Closer Look at Five Stocks Gaining Ground on Thursday

Canadian Solar Crushes Analysts Estimates

Canadian Solar Inc. (NASDAQ:CSIQ)’s stock has skyrocketed by over 19% on the back of stronger-than-expected results for the second quarter. The solar power systems company earned $0.68 per share, higher than estimates of $0.37, while revenue stood at $805.9 million, versus the consensus estimate of $717.47 million. Module shipments during the quarter increased to 1,290 MW, compared to 809 MW in the same period last year. For the third quarter, Canadian solar expects revenue between $660 million and $710 million, compared to the average analyst estimate of $788.2 million. For the full year, the revenue is expected between $3.0 billion and $3.2 billion, versus the consensus estimate of $3.16 billion. With ownership of 1.03 million shares as of the end of June,  Ken Hahn’s Quentec Asset Management is one of the funds from our database bullish on Canadian Solar.

NetApp Reports Strong Quarter

Shares of NetApp Inc. (NASDAQ:NTAP) have gained around 15% so far today after the company reported fiscal first quarter EPS of $0.46 and revenue of $1.29 billion, above the consensus estimates of $0.36 and $1.26 billion, respectively. The California-based storage and data company expects EPS between $0.51 and $0.56 in the second quarter of fiscal 2017, versus the consensus estimate of $0.55, whereas revenue guidance stands in the range of $1.265 billion to $1.415 billion, versus analyst estimates of $1.33 billion. NetApp’s CEO George Kurian said in a statement that the company continues its “disciplined execution” of the strategy which is changing the trajectory of its business. John Brennan’s Sirios Capital Management owns 2.49 million shares of NetApp Inc. (NASDAQ:NTAP) as of the end of the second quarter.

Cobalt International Going Through the Roof

Cobalt International Energy, Inc. (NYSE:CIE)’s stock has soared by over 32% today, boosted by significant insider buying activity. On Wednesday, Cobalt International’s CFO David Powell reported purchase of 100,000 shares of the company’s common stock at an average price of $0.99 per share. In addition, the Texas-based oil exploration company was upgraded to ‘Buy’ from ‘Hold’ by analysts at Tudor Pickering, in a note issued on Thursday. At the end of June, Jim Simons’ Renaissance Technologies held 4.74 million shares of Cobalt International Energy, according to its last 13F filing.

Disclosure: None