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Here’s What’s Pushing These 5 Stocks Higher Today

Southwestern Energy Company (NYSE:SWN) is preparing to tighten its belt and investors have welcomed the news. The stock is currently trading up by more than 15% from yesterday’s closing price. The company said it plans to lay off or reduce the role of 1,100 employees, or roughly 45% of its workforce. The recent glut in the oil market has affected Southwestern Energy as well, with the company expecting reduced drilling activity in 2016. Southwestern hopes this will help it save between $150 million and $175 million per year.

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The popularity of Southwestern Energy Company (NYSE:SWN) among the funds we track registered a gain during the third quarter, with 38 of them reporting a stake in the company as of the end of September, up by five from the start of the quarter. Israel Englander is still betting on the stock to grow, having boosted his stake by 11% during the quarter. In its latest 13F filing, Millennium Management reported ownership of 9.35 million shares of Southwestern.

It rarely happens that a stock rallies after missing estimates by miles, but Kinder Morgan Inc (NYSE:KMI) managed to do just that, as management made all the right moves to counteract the poor performance of the company in the previous quarter. But first things first; Kinder Morgan posted revenue of $3.63 billion and a loss of $0.29 per share, compared to analysts expectations of $3.90 billion in revenue and earnings of $0.18 per share. The big discrepancy is due to a massive, $1.15 billion asset write-down, while the revenue also suffered because of the falling commodities prices. Kinder Morgan management has slashed its budget for 2016 by 20% to $3.3 billion and investors have greeted the announcement with praise, pushing the stock up by as much as 21% during the first hours of trading today.

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Although roughly 10% of the funds from our database had Kinder Morgan Inc (NYSE:KMI) in their portfolio at the end of September, together they held a meager 3% of the company’s common stock. FPR Partners, run by Bob Peck and Andy Raab, holds the largest stake in the company among the funds we follow, holding 5.98 million shares according to its latest quarterly report.