A Look at the Developments Behind the Big Moves of Five Stocks

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is one of the winners in the biotech industry as its stock has opened around 5% in the green on Thursday. Its revenue jumped by over 70% on the year to $309.82 million in the third quarter, boosted by strong sales of Kalydeco and Orkambi, two drugs for the treatment of cystic fibrosis. The company also narrowed its adjusted earnings per share loss to $0.13 from $0.37. Analysts expected Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) to report a loss of $0.28 per share on revenue of $245 million. Among the funds we track, Vertex is fairly popular, being included in the equity portfolios of 45 investors, though they held less than 4% of its outstanding stock at the end of June.

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InvenSense Inc (NYSE:INVN)‘s stock has also jumped by over 15% on the back of its financial results for the firm’s second quarter of fiscal year 2016, ended September 27. The company posted net revenue of $112.55 million, up from $90.20 million a year earlier and non-GAAP EPS of $0.16, versus $0.05 delivered a year ago. Both the top and bottom line results came in better than the $0.15 in EPS and $111.2 million in revenue expected by analysts. Even though the number of funds with long positions in InvenSense went up by nine to 20 during the second quarter, smart money investors are still a bit cautious about InvenSense Inc (NYSE:INVN)’s prospects as they held just 5.40% of its outstanding stock at the end of June.

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Finally, shares of Hanesbrands Inc. (NYSE:HBI) have gained around 10% so far today after the company said that it had achieved its seventh-straight quarter of record results. Its revenue amounted to $1.59 billion, up by 13.6% year-over-year, while its adjusted EPS went up by 16% to $0.50. Analysts had expected EPS of $0.50 on revenue of $1.57 billion. While Hanesbrands Inc. (NYSE:HBI) lowered its full-year guidance to $5.85 billion in net sales from $5.9 billion, it raised its adjusted EPS guidance to a range of $1.66-to-$1.68 from $1.61-to-$1.66. Navellier & Associates reported ownership of 999,206 shares of Hanesbrands as of the end of September.

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