Five Stocks Catch Investors’ Attention on the Back of Financial Results

Page 1 of 2

The US stock market opened lower on Tuesday amid a slight increase in oil prices and following Japan’s decision to approve a new stimulus package of 13.5 trillion yen ($132 billion).

Meanwhile, investors are keeping an eye on Tenet Healthcare Corp (NYSE:THC), Atwood Oceanics, Inc. (NYSE:ATW), Williams Companies Inc (NYSE:WMB), Williams Partners LP (NYSE:WPZ) and Integrated Device Technology Inc (NASDAQ:IDTI) today following the release of their financial results for the last quarter. Let’s take a closer look at the performance of the companies in question and analyze the hedge fund sentiment towards them.

We believe that imitating hedge funds and other large institutional investors can be helpful in identifying stocks capable of outperforming the broader market. Through extensive research that covered portfolios of several hundred large investors between 1999 and 2012, we determined that following the small-cap stocks that large money managers are collectively bullish on, can generate monthly returns nearly 1.0 percentage points above the market (see more details here).


Tenet Healthcare Misses Estimates

Tenet Healthcare Corp (NYSE:THC)’s stock slid today after the company’s second quarter earnings fell short of analysts’ forecasts. The Texas-based healthcare company posted adjusted EPS of $0.38, less than the expected $0.52, but revenue of $4.87 billion topped the consensus estimate of $4.83 billion. Tenet Healthcare expects its full-year EPS to be in the range of $1.32-$1.67, much less than the consensus estimate of $1.93, while earnings in the third quarter are expected to lie between $0.10-$0.25 a share, down from the expectation of $0.43. Tenet Healthcare also said on Monday that it had agreed to pay $514 million to resolve a criminal investigation and civil litigation related to a kickback scandal involving an Atlanta medical clinic and three hospitals. The company also agreed to appoint a corporate monitor for three years as part of the settlement. A total of 34 funds from our database were bullish on Tenet Healthcare Corp (NYSE:THC) at the of the first quarter

Follow Tenet Healthcare Corp (NYSE:THC)

Atwood Oceanics Beats Estimates

Atwood Oceanics, Inc. (NYSE:ATW) is in the news after the company beat analysts’ bottom-line forecasts for the fiscal third quarter. The offshore drilling contractor posted EPS of $1.53, versus expectations of  $0.90, while revenue of $227.8 million missed the estimates of $232.74 million. The company also said it had bought $145.8 million of its senior notes in open-market transactions with an average discount of 34.8%, and in July, it purchased $42 million of notes through a Dutch auction and it currently has $448.7 million of senior notes outstanding. At the end of March, 18 investors tracked by Insider Monkey were long Atwood Oceanics, Inc. (NYSE:ATW).

Follow Atwood Oceanics Inc (NYSE:ATW)

On the next page, we discuss why Williams Companies, Williams Partners LP and Integrated Device Technology making moves today.

Page 1 of 2