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It’s A Red Day for 5 Stocks, Including Netflix, GigPeak, and BHP Billiton; Here’s Why

Genworth Financial Keeps Plunging

Genworth Financial Inc (NYSE:GNW) is trading more than 2% in the red today. The stock has plunged by 80% over the past two years. In an article on Bloomberg, Gillian Tan recommended that Genworth Financial sell its U.S. mortgage-insurance division to lighten its debt and solve some of its financial problems. Christopher Pucillo’s Solus Alternative Asset Management was one of the 22 hedge funds in our database with stakes in Genworth Financial Inc (NYSE:GNW) at the end of the first quarter, owning 15.00 million shares.

Second Sight Medical Products Moves Back in the Red

Second Sight Medical Products Inc (NASDAQ:EYES) has given up some ground today after surging by more than 20% on Thursday following a Fox news story yesterday. According to the story, Second Sight Medical’s Argus II Retinal Prosthesis System helped Steve McMillin, a 59-year-old sufferer of retinitis pigmentosa, a rare degenerative eye disease that causes blindness, to gain back some of his vision. Only four hedge funds in our system were shareholders of Second Sight Medical Products Inc (NASDAQ:EYES) at the end of the first quarter.

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BHP Billiton’s Samarco Accused of Misconduct

BHP Billiton plc (ADR) (NYSE:BBL) is down by 3.90% today after Brazil’s police accused Samarco Mineração, a joint venture of BHP Billiton and Vale SA (ADR) (NYSE:VALE), of willful misconduct in relation to a dam burst last November. According to the police, the company prioritized production over safety, and ignored clear signs of a weakening dam. As of the end of March, 15 hedge funds in our system had stakes in BHP Billiton plc (ADR) (NYSE:BBL) worth approximately $253.3 million. Bernard Horn’s Polaris Capital Management owned 3.48 million shares of the company at the end of March.

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Disclosure: None

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