Sanmina, Invivo, Knowles, NXP Semiconductors and The Container Store Are Top Gainers Today: Here’s Why

Knowles Surges on Double Beat

Shares of Knowles Corp (NYSE:KN) are up by almost 16.4% this afternoon, reacting to the announcement of the company’s first quarter financial results. EPS of $0.08 and revenue of $185.3 million both beat estimates, by $0.05 and $5.68 million, respectively. While second quarter guidance was only in-line with expectations, growth projections for the second half of the year, driven by new product launches, have investors excited.

Knowles Corp (NYSE:KN) saw the number of hedge fund backers increase by 15.3% over the fourth quarter among those we track, with 15 firms having long stakes in the company. Their combined positions accounted for almost 6% of the company’s float.

A “Relief Rally” for Container Store

Another big gainer on Tuesday is the Container Store Group Inc (NYSE:TCS), which is up by more than 21.6% even though it reported earnings of $0.20 per share on Monday afternoon, which were $0.01 shy of expectations. On the other hand, revenue of $232.07 million, up by 3.5% year-over-year, did beat estimates by $1.54 million. So, is the stock spiking only on the small revenue beat? Well, not really. This is what some have called a “relief rally”. This means that the results created hope of a turnaround among investors. Among the factors generating said bullishness were a 0.2% surge in comparable-store sales, well above guidance, which had predicted a drop of 3%-to-5%, as well as a 4.7% increase in its retail segment’s sales.

Among the eight funds in our system that were long the Container Store Group Inc (NYSE:TCS) at the end of the fourth quarter was Sanford J. Colen’s Apex Capital, which declared holding 2.32 million shares of the company as of the end of 2015.

NXP Semiconductors Also Surprises Analysts

Finally, there’s NXP Semiconductors NV (NASDAQ:NXPI), which has risen by more than 4.6% since the bell rang this morning, on the back of top and bottom-line beats. On late Monday, the company announced first quarter EPS of $1.14, $0.05 above the Street’s consensus, on revenue of $2.22 billion, which was $10 million better than expected.

There were 50 hedge funds among those we track with long stakes in NXP Semiconductors NV (NASDAQ:NXPI) at the end of 2015. Their combined stakes accounted for 7.6% of the company’s outstanding shares.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned in this article.