Etsy, EA, and Avis (CAR) Among 5 Stocks Trending Early Wednesday

Etsy Rises on Earnings Report

Etsy Inc (NASDAQ:ETSY) shares are 5% higher after the e-commerce company reported its second quarter results. For the period, Etsy lost $0.06 per share, missing the consensus mark by $0.05, but reported revenue of $85.35 million, which beat estimates by $4.8 million. Although Etsy’s bottom-line was weak, traders chose to focus more on the company’s strong revenue growth of 39.1% year-over-year and strong guidance. Due to robust demand, management increased its full-year outlooks on revenue growth, GMS growth, and adjusted EBITDA margin, to ranges of 25%-to-28%, 15%-to-17%, and 13%-to-14%, up from the previous guidance figures of 25%, 15%, and 10%-to-11%, respectively. 15 funds in our system owned shares of Etsy Inc (NASDAQ:ETSY) at the end of the first quarter, up by two funds quarter-over-quarter.

Avis Misses but Issues Strong Guidance

Avis Budget Group Inc. (NASDAQ:CAR) earned $0.63 per share in the second quarter, on sales of $2.24 billion, missing profit estimates by $0.06 per share but beating revenue expectations by $30 million. Revenue rose by 3% during the quarter as volume and Americas pricing showed some improvement. Despite the earnings miss, shares of Avis are in the green in the pre-market hours, aided by Avis Budget Group’s management increasing its 2016 adjusted EBITDA estimate to $850 million-to-$900 million and its adjusted EPS target to $2.90-to-$3.30. 25 of the 766 active funds that we follow were long Avis Budget Group Inc. (NASDAQ:CAR) at the end of March.

EA Posts Double Beat

Electronic Arts Inc. (NASDAQ:EA) turned in a surprise adjusted profit of $0.07 per share for its first quarter of fiscal year 2017, beating estimates by $0.09 per share. Sales also came in higher than expected, with Electronic Arts reporting revenue of $682 million, topping estimates of $650.66 million. Management sees fiscal year 2017 revenue coming in at around $4.75 billion and GAAP diluted EPS coming in around the $2.56 mark. Shares are down by 2.47% in pre-market trading despite the easy double beat, as the full-year guidance figures may have disappointed. Stephen Mandel‘s Lone Pine Capital cut its position in Electronic Arts Inc. (NASDAQ:EA) by 71% during the first quarter to slightly under 2.00 million shares as of March 31.

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