Here’s Why Traders Are Buzzing about General Electric, Deutsche Bank, and Other Stocks

Worthington Industries Reports Earnings

Worthington Industries, Inc. (NYSE:WOR) is 1.0% in the green today after reporting fiscal fourth quarter earnings of $0.87 per share on revenue of $714.7 million, beating the consensus estimates by $0.23 per share and $22.22 million, respectively. For the fiscal year ended May 31, Worthington reported net sales of $2.8 billion and earnings of $2.22 per diluted share. Shares of the company are up by 24% year-to-date and trade for 14 times forward earnings. Of the 766 funds we track, 15 funds owned $90.95 million worth of Worthington Industries, Inc. (NYSE:WOR)’s stock, which accounted for 4.00% of the float on March 31, versus 15 funds and $69.63 million, respectively, a quarter earlier.

Acuity’s Third Quarter Beats Estimates

Acuity Brands, Inc. (NYSE:AYI) shares are almost 2% higher after the company reported fiscal third quarter earnings of $2.06 per share on revenue of $851.5 million, beating analyst estimates by $0.03 per share and $3.71 million, respectively. The adjusted gross profit margin was a record 44.5%, while adjusted operating profit margin rose by 140 basis points year-over-year to 17.2%. In terms of outlook, management remains bullish regarding the company’s prospects for continued future profitable growth. At the end of March, 22 funds tracked by us were long Acuity Brands, Inc. (NYSE:AYI), down by nine funds from the previous quarter.

Soros Shorted Deutsche Bank AG 

Although he didn’t short the British Pound like he did in 1992, George Soros did short Deutsche Bank AG (USA) (NYSE:DB) around Britain’s vote to remain or leave the EU on June 23. According to regulatory filings, Soros Fund Management had a short position of 7.0 million shares on June 24, which is equal to 0.51% of Deutsche Bank’s share capital. It is unclear whether Soros was short Deutsche Bank as a hedge or because he is bearish on the company’s future prospects, however. Overall, 10 funds tracked by us reported long positions in Deutsche Bank AG (USA) (NYSE:DB) as of the end of March.

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