Here’s Why Oracle, Smith & Wesson, Paratek Pharmaceuticals and Two Other Stocks Are Trending Today

Finisar Corporation Beats Estimates

Finisar Corporation (NASDAQ:FNSR)’s stock is in the spotlight today after the company beat analysts’ estimates for the fiscal fourth quarter. The California-based manufacturer of optical communication components reported a 78% annual rise in profit in the quarter, thanks to the increasing demand in its datacom segment. The company earned $0.29 per share, better than the estimated $0.25. Revenue of $318.8 million also topped the expected $317.38 million. For the first quarter of fiscal 2017, Finisar expects its EPS to be in the range of $0.27 to $0.33, versus the consensus of $0.27. With ownership of around 4.0 million shares, Ken Fisher’s Fisher Asset Management is one of 27 hedge funds from our database that reported stakes in Finisar Corporation (NASDAQ:FNSR) as of the end of March.

Paratek’s Phase 3 clinical trial of Two Drugs Meets Endpoints

Investors are watching Paratek Pharmaceuticals Inc (NASDAQ:PRTK) closely today after the company said on Thursday that a Phase 3 clinical trial comparing its broad spectrum, once-a-day antibiotic, omadacycline, to twice- daily linezolid in the treatment of acute bacterial skin and skin structure infections (ABSSSI) met the US FDA’s specified primary endpoints. The study also met two co-primary endpoints specified by European Medicines Agency (EMA) for post-treatment evaluation.As of the end of March, 10 hedge funds among those we track have stakes in Paratek Pharmaceuticals Inc (NASDAQ:PRTK). Collectively, these hedge funds amassed around 24% of the company’s stock. Seth Klarman’s Baupost Group owns more than 1.54 million shares of the company.

Citigroup Upgrades BP plc

BP plc (ADR) (NYSE:BP) climbed by 0.41% after analysts at Citigroup upgraded the company to “Buy” from “Neutral”, saying that the company is “better” and “simpler” than its competitors, such as ExxonMobil Chevron and Royal Dutch Shell. Citigroup analysts Alastair Syme and Michael Alsford think that BP’s recent spin-off of its Norwegian oil and gas fields will make the organization leaner and more focused, resulting in a closing returns-gap to its peers, improved asset utilization and cost-control. Our data show that 34 smart money investors held shares of BP plc (ADR) (NYSE:BP) at the end of the first quarter. Among them is Richard S. Pzena’s Pzena Investment Management, which owns more than 8.98 million shares of the company.

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