Five Stocks that Are Surging While the Market is Mired in Red

Page 2 of 2

The future is bright for Tyson Foods, Inc. (NYSE:TSN) as well, at least in the short term, as the largest U.S meat processor posted a profit of $461 million for the first quarter of fiscal year 2016. On a per share basis, earnings came in at $1.15, while revenue fell by 15% to $9.15 billion. An increase in the domestic supply of cattle and hogs drove prices down, but lower cord and soybean prices meant cheaper feed, thus a decrease in costs, which also led to an increase in profit margin. Tyson Foods also upped its full-year profit expectations to $3.85-to-$3.95 per share, having previously issued an estimate of $3.50-to-$3.65 per share. Investors are euphoric, having pushed the stock higher by more than 13% in the first hours of trading.

Follow Tyson Foods Inc. (NYSE:TSN)

David Cohen and Harold Levy, the managers of Iridian Asset Management, nearly tripled their holding of Tyson Foods, Inc. (NYSE:TSN) during the third quarter, taking it to a little over 6.5 million shares.

One of the top gainers today is Ubiquiti Networks Inc (NASDAQ:UBNT), which has surged by as much as 25% after better-than-expected second quarter of fiscal year 2016 results. The manufacturer of wireless networking products posted earnings of $0.58 per share, beating the Street’s estimates of $0.51 per share. Revenue rose by 5.7% to $161.9 million, topping analysts’ forecasts of $155.3 million. For the current quarter, Ubiquiti expects revenue of $160 million-to-$170 million, while earnings are estimated to be in the range of $0.53 to $0.60 per share.

Follow Ubiquiti Inc. (NYSE:UI)

Ubiquiti Networks Inc (NASDAQ:UBNT) is not a very popular stock among elite funds, with only ten of them having reported a stake in the company as of the end of September. The largest stake in Ubiquiti among the funds we follow is held by Akre Capital Management, run by Charles Akre. According to its latest 13F filing, the fund holds 2.68 million shares, unchanged over the third quarter.

Disclosure: None

Page 2 of 2