Investors Are Buzzing About These Stocks Today

Calumet’s Slide Continues

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) is down by another 12% today after analysts at DA Davidson cut their rating on the stock to ‘Underperform’ from ‘Buy’ and set a $5 price target on it. Calumet fell by almost 50% yesterday after the company suspended its quarterly cash distribution, citing the need to manage its capital structure with prudence in challenging times. Calumet also executed a $400 million private senior secured note placement and guided for a worse-than-expected first quarter loss of $59 million-to-$83 million, compared to expectations of a loss of just $19 million. Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) was in just five hedge funds’ portfolios in our database at the end of December.

GigPeak Retreats 6% Despite Earnings Beat

GigPeak Inc (NYSEMKT:GIG) reported first quarter earnings of $0.05 per share on revenue of $11.4 million for its GigOptix, Inc segment, beating estimates by $0.01 per share and $0.28 million, respectively. The earnings beat was apparently not enough for investors, however, as shares of the company are down by 6% in afternoon trading. GigPeak CEO Avi Katz offering the following concerning the ongoing second quarter:

“As we enter Q2 FY16, the initial revenue outlook, which will include only about 10 weeks of sales from Magnum Semiconductor products in the total GigPeak revenue outlook, and is subject to potential revenue adjustments pertaining to purchase accounting rules related to the recently closed acquisition of Magnum Semiconductor, is expected to be in the range of approximately $15.0 million to $15.3 million, representing an increase of about 33 percent from Q1 FY16, and about 55 percent from Q2 FY15.”

Nine top funds that we track owned 12.5% of GigPeak Inc (NYSEMKT:GIG)’s shares at the end of 2015. As with all micro-cap stocks, investors should do their due-diligence before buying.

Technical Buying Detected at Chemours

Chemours Co (NYSE:CC) is 4.6% higher today on the back of strong technical momentum. Since bottoming out in early February, Chemours Co (NYSE:CC) shares have more than doubled and are now above several key moving averages. Helping boost sentiment is a price target boost by Citigroup yesterday. Analysts at the investment bank now have a price target of $8 on the stock, up from $5 per share previously. 22 funds that we track in our database held shares of the company at the end of December. That was down by two funds from the end of September.

Disclosure: None