Here’s Why Traders Are Watching Micron, TeamHealth, Endurance Specialty, Wells Fargo, and More Today

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Traders are eagerly watching crude today after yesterday’s API inventory report showed another surprise draw, this time by 7.6 million barrels for last week. Analysts were expecting a build of around 1.5 million barrels instead.

In addition to watching crude, investors are also eagerly watching the price action Micron Technology, Inc. (NASDAQ:MU), TeamHealth Holdings Inc (NYSE:TMH), Wells Fargo & Co (NYSE:WFC), Endurance Specialty Holdings Ltd. (NYSE:ENH), and Universal Logistics Holdings Inc (NASDAQ:ULH). In this article, we’ll take a closer look at each stock and use the latest 13F data to see what the smart money thinks of the five equities.

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Micron Technology, Inc. (NASDAQ:MU) is in the red after the company reported an adjusted loss of $0.05 per share for its fiscal 2016 fourth quarter, beating the Street’s estimate by $0.05. Revenue for the period was $3.22 billion, down by 10.6% year-over-year, and $90 million ahead of estimates. For the full fiscal year, Micron earned an adjusted $0.06 per diluted share on revenue of $12.4 billion. Although the company’s fiscal fourth quarter headline numbers were better-than-expected, some traders may not have liked that DRAM average selling prices inched lower by 6% during the quarter. As for guidance, Micron is anticipating fiscal 2017 first quarter earnings of $0.13-to-$0.21 per share, firmly above the consensus of $0.12 per share, on revenue of $3.55 billion-to-$3.85 billion. John Hurley‘s Cavalry Asset Management established a new stake of 715,150 shares in Micron Technology, Inc. (NASDAQ:MU) during the second quarter, with the position accounting for 10.66% of the value of the fund’s public equity portfolio at the end of June.

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TeamHealth Holdings Inc (NYSE:TMH) is in the spotlight today after the company surged by over 16% in late trading on Tuesday on the back of a Dow Jones report that said the company is considering a potential sale and is in talks with various private equity firms. TeamHealth shares haven’t done well in 2016, being down by around 13% year-to-date. Of the 749 hedge funds that we track which filed 13Fs for the June quarter, 25 of them were long roughly 22.3% of TeamHealth Holdings Inc (NYSE:TMH)’s float at the end of the second quarter.

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On the next page, we’ll find out why Wells Fargo, Endurance Specialty Holdings, and Universal Logistics Holdings are trending.

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