Mattel Jumps On Barbie Sales Surge, Plus 4 Other Trending Stocks

U.S stock futures point towards a flat market as we near Thursday’s opening bell, as investors are on tenterhooks ahead of vital data on jobless claims and the Federal Reserve’s regional manufacturing survey. The European Central Bank’s first meeting since the Brexit vote is also scheduled to take place today.

Meanwhile, several stocks are making moves this morning, including Relypsa Inc (NASDAQ:RLYP), Biogen Inc (NASDAQ:BIIB), American Express Company (NYSE:AXP), Mattel, Inc. (NASDAQ:MAT), and F5 Networks, Inc. (NASDAQ:FFIV). Let’s find out why these stocks are worth watching today and also analyze hedge fund sentiment towards them.

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Galenica AG to Acquire Relypsa

Relypsa Inc (NASDAQ:RLYP) has skyrocketed by more than 58% today after the company agreed to be acquired by Switzerland’s Galenica AG for $32 per share, or approximately $1.53 billion. Galenica’s move stems from its plans to strengthen its Vifor Pharma unit ahead of splitting up its healthcare group. Relypsa is known for its drug to treat dangerous blood potassium levels, known as hyperkalemia, in patients with heart and kidney problems. In related news, analysts at Wedbush reiterated their ‘Outperform’ rating for Relypsa and said that the company could get contacted by another prospective bidder after its agreement with Galenica. A total of 14 hedge funds in our system were bullish on Relypsa Inc (NASDAQ:RLYP) at the end of the first quarter.

Biogen Beats Estimates, CEO Departs

Shares of Biogen Inc (NASDAQ:BIIB) have gained more than 4% this morning following the company’s better than expected second quarter results. The biopharmaceutical company earned $5.21 per share, sharply up from the estimated $4.68. Revenue of $2.89 billion also topped the consensus estimate of $2.79 billion. For the full year, the company sees its revenue coming in at between $11.2 billion and $11.4 billion. Biogen also revealed that its CEO George Scangos will vacate the position after six years, and that the company has identified a successor. 64 hedge funds tracked by Insider Monkey owned around $3.1 billion worth of Biogen Inc (NASDAQ:BIIB) shares as of the end of the first quarter.

On the next page we continue our discussion of Thursday’s hottest stocks.

American Express Beats Earnings Estimates

American Express Company (NYSE:AXP) has slipped by 1.66% this morning despite the credit card company beating earnings estimates with its second quarter results. American Express earned $2.10 per share, beating the estimates of $1.95. However, revenue of $8.24 billion missed the consensus estimate of $8.40 billion. American Express experienced a 37% jump in its profit during the quarter, due to a rise in customer spending and the issuance of new cards. Out of the funds in our database, 52 were long American Express Company (NYSE:AXP) at the end of March.

Mattel Posts Strong Quarter, Barbie Sales Up

Mattel, Inc. (NASDAQ:MAT) shares have popped by 1.83% after the company reported a strong second quarter. Mattel’s 52-year-old brand Barbie experienced a 23% rise in sales, its biggest quarterly jump since 2009. Barbie’s sales rose as a result of Mattel’s decision to revamp its Barbie dolls with new features. Overall, the California-based company posted EPS of $0.02, while revenue for the quarter came in at $957.3 million, topping the consensus estimate of $936.58 million. John W. Rogers’ Ariel Investments was one of 37 hedge funds in our database that owned stakes in Mattel, Inc. (NASDAQ:MAT) at the end of the first quarter.

F5 Networks Beats Third Quarter Estimates

F5 Networks, Inc. (NASDAQ:FFIV) has gained 1.45% after the company beat estimates with its fiscal year 2016 third quarter financial results. The Seattle-based networking technology company reported EPS of $1.81, bettering the consensus estimate of $1.79. Revenue for the quarter came in at $496.5 million, slightly topping analysts’ consensus target of $495.29 million. F5 Networks is also in the spotlight after the New York Post reported that equity firm Thoma Bravo is interested in buying the company. As of the end of the first quarter, 28 hedge funds out of those tracked by Insider Monkey were long F5 Networks, Inc. (NASDAQ:FFIV).

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