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Here’s What’s Causing These Stocks To Move Sharply On Thursday

Although it isn’t quite earnings season yet, volatility never sleeps. Investors and traders will always buy and sell on meaningful news and stocks will always move. Given that the stock prices of Endo International plc – Ordinary Shares (NASDAQ:ENDP), Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI), Hanesbrands Inc. (NYSE:HBI), Ionis Pharmaceuticals Inc (NASDAQ:IONS), and DragonWave, Inc.(USA) (NASDAQ:DRWI) have done exactly that and moved sharply on Thursday, let’s uncover the news driving this movement. We’ll also examine relevant hedge fund sentiment toward each stock.

Our backtests that covered the period between 1999 and 2012, showed that following the 15 most popular small-caps among hedge funds can help a retail investor beat the market by an average of 95 basis points per month (see the details here).

Leading our list of movers is Endo International plc – Ordinary Shares (NASDAQ:ENDP), which rallied by more than 4% this morning on improving sentiment, though it’s now giving up those gains in afternoon trading. Endo Pharma shares received some bad publicity after the FTC filed a complaint in late March against the company, accusing one of Endo’s units of using pay-for-delay pacts to block the launch of lower-cost generic versions of some of its products. If the FTC wins its suit, Endo could have to disgorge the benefits it received from the pay-for-delay deals. Endo shares rallied this morning partly because fellow troubled pharma giant, Valeant Pharmaceuticals Intl Inc (NYSE:VRX), also made a big upward move this morning. 53 elite funds in our system owned slightly more than one-fifth of Endo International plc – Ordinary Shares (NASDAQ:ENDP)’s outstanding shares at the end of December.

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Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) is 12% in the green after the company reported solid earnings for the fourth quarter of fiscal year 2015. For the quarter, Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) earned $0.31 per share on revenue of $243.4 million, beating estimates by $0.03 per share and $4.34 million, respectively. Net sales jumped by 21.3% year-over-year while comparable store sales rose by 5%. Net income increased by 33.8%. For fiscal year 2016 ending January 28, 2017, management expects EPS of $0.82-to-$0.84 and revenue of $865 million-to-$875 million, while analysts have estimated $0.76 per share in earnings and $872.3 million in revenue. Eight funds tracked by Insider Monkey owned roughly 1.4% of the company’s float at the end of December.

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On the next page we dig into the latest on Hanesbrands, Ionis Pharmaceuticals, and DragonWave.

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