Here’s Why These Five Stocks Are Trending on Friday

InterOil Misses Expectations

InterOil Corporation (USA) (NYSE:IOC) posted a lost $0.34 per share on revenue of $0.92 million for its first quarter, missing estimates by $0.03 per share and $0.18 million, respectively. The company made progress advancing the development of the Elk-Antelope fields and successfully persuaded its creditors to extend its credit facility’s size to $400 million. InterOil pushed back its credit facility’s deadline to the end of 2017. Shares of InterOil Corporation (USA) (NYSE:IOC) are roughly flat year to date and the stock was included in the equity portfolios of 13 funds from our database at the end of 2015.

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Concordia’s Earnings Dissapoint

Concordia Healthcare Corp (NASDAQ:CXRX)’s first-quarter earnings didn’t meet expectations as the company turned in EPS of $1.35 on revenue of $228.54 million, versus estimates of $1.52 in EPS and $231 million in revenue. Nevertheless, Concordia plans to continue its strategy of launching new products, with the company expecting to launch 60 or more products over the next three years. Partly due to product launches, the company reaffirmed its 2016 guidance of $1.02 billion to $1.06 billion in revenue and $610 million to $640 million in adjusted EBITDA. The hedge fund sentiment towards Concordia Healthcare Corp (NASDAQ:CXRX) has been stable, with the number of top fund holders with positions in the stock rising by one quarter-over-quarter to 18 at the end of December.

TerraForm Global Recieves a Notice of Default 

Holders of the yieldco’s 9.75% senior notes due in 2022 recently sent TerraForm Global Inc (NASDAQ:GLBL) a notice of default after the company failed to submit its annual report. Under financial rules, TerraForm Global has 90 days to issue its report, or the company will be forced to repay hundreds of millions of dollars of debt years earlier. One reason TerraForm Global Inc (NASDAQ:GLBL) has failed to file is because its parent, SunEdison, hasn’t filed it yet either. A total of 21 funds that we track held shares of TerraForm Global heading into 2016.

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