Earnings Results Have These 5 Stocks On The Move Today

IDEX Beats Estimates

IDEX Corporation (NYSE:IEX) turned in EPS of $0.99 on revenue of $549.7 million for the second quarter, beating the consensus marks by $0.06 per share and $4.75 million respectively. Sales rose by 6.8% year-over-year, aided by year-over-year order growth of 5%. Gross margin and operating margin fell by 60 and 70 basis points respectively, to 44.4% and 20.6%, mainly due to a pre-tax inventory step-up charge related to the company’s Akron Brass acquisition. Management expects full year EPS of $3.70-to-$3.75 and flat organic growth, along with operating margin of 20.5%-to-21.0%. Those numbers are generally consistent with previous guidance. Of the 766 active funds that we track, 14 owned $234.09 million of IDEX Corporation (NYSE:IEX) shares on March 31, which accounted for 3.70% of the float.

Brown & Brown Reports Earnings

Insurer Brown & Brown, Inc. (NYSE:BRO) delivered second quarter EPS of $0.49 on sales of $446.5 million, beating the consensus analyst estimates by $0.05 per share and $6.2 million respectively. Total sales rose by 6.5% year-over-year, while organic revenue was positive in all four of the company’s divisions, growing by 2.6% overall. Shares of the company have rallied by 12% year-to-date. Based on our database of top investors, 14 hedge funds owned shares of Brown & Brown, Inc. (NYSE:BRO) at the end of the first quarter, down by three from the end of 2015.

Rambus Earnings Top Estimates

Rambus Inc. (NASDAQ:RMBS) reported EPS of $0.15 on sales of $76.5 million for the second quarter, topping the consensus EPS estimate of $0.13 and revenue estimates of $74.4 million. Revenue rose by 5% sequentially and year-over-year, led by higher sales from security technology development projects. During the second quarter, the company signed agreements to buy IP assets from Snowbush, to acquire Inphi Corporation (NYSE:IPHI)’s Memory Interconnect business, and to protect pay TV content for Dish TV India. For the third quarter of 2016, Rambus management expects revenue to come in between $75 million and $80 million. The number of funds in our database with holdings in Rambus Inc. (NASDAQ:RMBS) rose by two quarter-over-quarter to ten as of the end of March.

Disclosure: None