Here’s Why These Five Stocks Are on the Move

Santander Delays Earnings Release

Santander Consumer USA Holdings Inc (NYSE:SC) shares have sold off to the tune of 10% today after the company delayed the release of its second quarter results due to accounting matters. Although Santander was originally scheduled to release earnings on Wednesday, July 27, 2016, the company decided to delay the filing of the Form 10-Q due to ongoing discussions with current and previous accountants regarding discount accretion and credit loss allowance methodologies. Management has said that they will file as soon as practicable. A total of 25 funds tracked by Insider Monkey owned shares of Santander Consumer USA Holdings Inc (NYSE:SC) at the end of the first quarter, down by six funds from the previous quarter.

Study Results Sink Tobira 

Tobira Therapeutics Inc (NASDAQ:TBRA) shares have more than halved this afternoon after the results of a Phase 2b study showed that the company’s drug candidate, cenicriviroc, failed to meet its primary endpoint of a two-point reduction in the NAFLD Activity Score. Although the drug failed to achieve its primary endpoint, cenicriviroc did show statically significant improvement in fibrosis of at least one stage without worsening NASH after only one year of treatment. Due to that result, management intends to initiate a Phase 3 study in 2017 based on the fibrosis angle. Among the investors we track, nine funds owned $36.57 million worth of Tobira Therapeutics Inc (NASDAQ:TBRA)’s stock, which accounted for 23.90% of the float on March 31, versus nine funds and $52.04 million, respectively, on December 31.

Lower WTI Sinks Whiting

Whiting Petroleum Corp (NYSE:WLL) shares are off by 6% today after near month WTI futures fell below $43 per barrel in afternoon trading. Although the supply and demand fundamentals for crude have improved, the last two EIA inventory reports haven’t met analyst expectations in terms of drawdowns and the U.S. Rig count has stubbornly increased despite the falling prices. Crude may need a better-than-expected inventory this week for sentiment to tick up appreciably higher. At the end of March, 43 funds owned shares of Whiting Petroleum Corp (NYSE:WLL), up by three from the previous quarter.

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