The US stock market is trading lower amid a decline in global markets and after consumer price data released by the Labor Department showed that inflation remained flat in July.
Among the stocks that are trending on Tuesday are The Hain Celestial Group, Inc. (NASDAQ:HAIN), StemCells Inc (NASDAQ:STEM), Gogo Inc (NASDAQ:GOGO), Evoke Pharma Inc (NASDAQ:EVOK), and Vipshop Holdings Ltd – ADR (NYSE:VIPS). In this article, we are going to analyze the latest developments surrounding these companies and take a look at some of the investors that reported stakes in them in the latest round of 13F filings.
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The Hain Celestial Group, Inc. (NASDAQ:HAIN) shares are trading down by more than 27% after the company announced that it will delay the release of its fiscal fourth-quarter results and filing of its annual report due to accounting issues. The company is conducting an independent review after doubts emerged over the accounting of revenue for concessions granted to U.S. distributors. The Hain Celestial Group, Inc. (NASDAQ:HAIN) also expects to miss sales and profit guidance provided earlier. A slew of brokerage houses downgraded the stock, including Barclays, which reduced the rating to ‘Equal-Weight’ and slashed the price target to $43 from $51 earlier. David Tepper’s Appaloosa Management reported a stake containing almost 1.29 million shares of The Hain Celestial Group in its 13F filing for the end of June.
Nano-cap StemCells Inc (NASDAQ:STEM)’s stock has surged by over 87% after the company entered into a merger agreement with Israeli company Microbot Medical, following which the company will be taken private. As part of the deal, StemCells’ shareholders will own 5% of the new entity while shareholders of Microbot Medical will own the rest of the entity. Jim Simons’ Renaissance Technologies owned 72,932 shares of StemCells at the end of the second quarter.
On the next page, we are going to discuss Gogo Inc (NASDAQ:GOGO), Evoke Pharma Inc (NASDAQ:EVOK) and Vipshop Holdings Ltd – ADR (NYSE:VIPS).