Barrick Gold Misses Estimates, Increases Copper Guidance
Barrick Gold Corporation (USA) (NYSE:ABX) is trading in the red this morning after missing analysts estimates on the second quarter earnings. The Canada-based gold company reported EPS of $0.14, less than the forecasts of $0.15. Revenue in the quarter was $2.01 billion, versus the consensus estimate of $2.07 billion. The company trimmed its debt by $968 million year-to-date, and plan to reduce the total debt to $2 billion by the end of 2016. Barrick Gold upped its copper guidance to between 380 million and 430 million pounds from 370 million to 410 million pounds, due to the commencement of commercial copper production in the Jabal Sayid copper mine in Saudi Arabia. Among the investors tracked by Insider Monkey, 49 funds were long Barrick Gold Corporation (USA) (NYSE:ABX) at the end of March, up from 40 funds a quarter earlier.
Groupon Posts Impressive Q2, Raises Guidance
Groupon Inc (NASDAQ:GRPN) skyrocketed more than 23% so far today after the company raised its 2016 revenue guidance and topped estimates for the second quarter. The Illinois, Chicago-based eCommerce company posted a loss of $0.01 per share, better than the expected loss of $0.02 per share. Revenue for the quarter came in at $756 million, topping the analysts’ estimates of $711.2 million. For full 2016, Groupon sees its revenue between $3.0 billion and $3.1 billion, up from the prior guidance of $2.75 billion to $3.05 billion. Jim Simons’ Renaissance Technologies owns about 12.64 million shares of Groupon Inc (NASDAQ:GRPN) as of the end of first quarter.
Whole Foods Market Posts Disappointing Results
Whole Foods Market, Inc. (NASDAQ:WFM)’s has lost over 8% so far today on the back of the company’s fiscal third-quarter earnings and weaker-than-expected guidance for the current quarter. The company earned $0.37, in-line with the analyst estimates, while revenue of $3.7 billion was slightly below the expected $3.73 billion. Comparable store sales fell by 2.6% in the quarter. For the fiscal fourth quarter, the supermarket chain expects its EPS to be in the range of $0.23 to $0.24, below the current consensus estimate of $0.25. At the end of March, 25 funds tracked by our team were bullish on Whole Foods Market, Inc. (NASDAQ:WFM).