Tribune Publishing Co Rebrands Itself
Tribune Publishing Co (NYSE:TPUB) is trying to become more hip by rebranding itself. On June 20, Tribune Publishing will officially change its name to tronc, Inc. The official description of tronc will be: “a content curation and monetization company focused on creating and distributing premium, verified content across all channels”. In addition, Tribune will transfer its stock exchange listing to NASDAQ from NYSE, under a new ticker symbol, ‘TRNC’. Billionaire Jim Simons’ Renaissance Technologies owned more than 40,000 shares of Tribune Publishing Co (NYSE:TPUB) at the end of the first quarter.
Gap Reports May Sales Numbers
Gap Inc (NYSE:GPS) shares have gained over 4% so far today, after the retailer reported that its sales fell 5% year-over-year in May, beating expectations of a decline of 8.5%. Comparable store sales inched down by 6% year-over-year, with Banana Republic Global leading the way with a drop of 11%. The number of funds tracked by Insider Monkey with holdings in Gap Inc (NYSE:GPS) rose by six to 23 during the first three months of 2016.
Broadcom Soars On Earnings Beat
Broadcom Ltd (NASDAQ:AVGO)’s stock has advanced by around 5% after the company reported fiscal second quarter earnings of $2.53 per share on revenue of $3.56 billion, beating the estimates by $0.15 and $10 million, respectively. Adjusted gross margin was 60%, while adjusted operating expenses amounted to $809 million. Guidance is on target with management expecting a revenue midpoint of $3.75 billion for the fiscal third quarter, versus the $3.71 billion projected by analysts. The gross margin for the third quarter is expected to be between 59% and 61%. Overall, 68 top funds followed by us own shares of Broadcom Ltd (NASDAQ:AVGO), according to the latest round of 13F filings.