Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Here’s Why Shares of Ciena, ArcelorMittal, Valeant and Two Others Are Gaining Ground Today

Markets slipped on Wednesday as investors await employment report due Friday morning. Declining oil prices also dented the market sentiment. However, some of the stocks are gaining ground today. They include Ciena Corporation (NYSE:CIEN), ArcelorMittal SA (ADR) (NYSE:MT), Achaogen Inc (NASDAQ:AKAO), Valeant Pharmaceuticals Intl Inc (NYSE:VRX) and Relypsa Inc (NASDAQ:RLYP). Let’s analyze the important factors which helped these stocks in getting boosts today and see what hedge funds from our system think of each of them.

Biotech Biology Stocks 4

Through extensive research, we determined that imitating some of the picks of hedge funds and other institutional investors can help generate market-beating returns over the long run. The key is to focus on the small-cap picks of these investors, since they are usually less followed by the broader market and are less price-efficient. 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 more details here).

Ciena Corporation Beats Estimates

Ciena Corporation (NYSE:CIEN)’s stock soared by more than 12% today after the company posted better-than-expected fiscal second quarter results. The Hanover, Maryland-based networking and communications company earned $0.34 a share, better than the analysts’ estimates of $0.27, while revenue came in at $640.7 million, beating the expected $630.74 million. For the current quarter, Ciena expects its revenue in the range of $655 million to $685 million. Out of nearly 766 funds tracked by Insider Monkey, 26 funds held shares of Ciena Corporation (NYSE:CIEN) at the end of the first quarter of 2016, down from 29 a quarter earlier. Anand Parekh’s Alyeska Investment Group owns more than 3 million shares of the company.

ArcelorMittal Signs New Deal, Gets “Buy” Rating From Citigroup

ArcelorMittal SA (ADR) (NYSE:MT)’s stock has climbed by over 3% so far today after the after the company said it had signed a 10-year agreement with Cliffs Natural Resources Inc (NYSE:CLF) to buy iron-ore pellets The contract sets a limit of minimum tonnage of pellets at 7.0 million long tons. On Wednesday, Citigroup upgraded ArcelorMittal’s stock to “Buy” from “Neutral. As of the end of the first quarter, 21 funds were bullish on ArcelorMittal SA (ADR) (NYSE:MT), having amassed $235.2 million worth of stock. Jonathan Barrett and Paul Segal’s Luminus Management owns more than 11.8 million shares of the company.

Move on to the next page to see why Achaogen, Valeant and Relypsa are advancing today.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.