Here’s Why These Five Stocks Are on the Move on Wednesday

Cintas Beats Estimates, Shares Surge

Cintas Corporation (NASDAQ:CTAS) delivered a top and bottom line beat for its fiscal fourth quarter, with EPS of $1.08 on revenue of $1.27 billion. The results beat estimates by $0.08 per share and $20 million, respectively, and, not surprisingly, shares of the uniform company are up by 10.4% in afternoon trading. In addition to better-than-expected earnings, Cintas also issued better-than-expected guidance. Management sees fiscal year 2017 EPS coming in at $4.35 to $4.45 on revenues of $5.15 billion to $5.225 billion, versus analyst estimates of $4.30 per share on revenues of $5.17 billion. Cliff Asness’ AQR Capital Management was one of the 27 funds from our database that held shares of Cintas Corporation (NASDAQ:CTAS) at the end of March.

Silver Miners Retreat

Shares of silver miners First Majestic Silver Corp (NYSE:AG) and Endeavour Silver Corp (NYSE:EXK) are down by around 7% and 8% respectively on the back of lower silver commodity prices. According to FINVIZ, the near month silver futures contract price has fallen 2.11% to $19.59 in afternoon trading. Lower silver prices generally mean less potential growth and revenue for silver miners. Although many traders remain concerned about slower Chinese growth, the potential for a global recession, and the consequences of the Brexit, the U.S. economy is strong and the major indexes (aside from the NASDAQ) are at or near all time highs. Silver could rally, but it could also stay where it is or even retreat. Seven investors had a bullish position in First Majestic Silver Corp (NYSE:AG) at the end of the first quarter, up by one over the quarter. Meanwhile, the number of funds tracked by us with holdings in Endeavour Silver Corp (NYSE:EXK) rose by two quarter-over-quarter to six at the end of March.

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