Thursday’s Hottest Earnings Reports: Cabelas, Total SA, Bunge, ITT Educational, Cirrus Logic

Total SA Rises After Reporting Earnings

Total SA (ADR) (NYSE:TOT) shares are 2% in the green today after the super-major reported excellent second quarter results. For the three months ended June 30, Total SA earned $0.90 per share on revenue of $37.22 billion, beating the bottom- and top-line estimates by a robust $0.16 per share and $4.92 billion respectively. Although Brent averaged just $46 per barrel in the second quarter, the company’s production rose by more than 5% year-over-year and cash generation in the downstream unit remained strong. Management remains committed to cutting costs and estimates that Total SA will surpass its $2.4 billion cost reduction target for the year. Ten hedge funds in our database were long Total SA (ADR) (NYSE:TOT) at the end of March, unchanged over the first quarter.

Cirrus Surges on Strong Quarter

Although fast mobile phone growth may be a thing of the past, Cirrus Logic, Inc. (NASDAQ:CRUS) nevertheless turned in solid results for its first quarter of fiscal year 2017, with EPS of $0.44 on revenue of $259.4 million. Shares of the company have surged by over 16% as analysts were expecting $0.16 less in EPS and $23.03 million less in revenue. Like the fiscal first quarter results, guidance was also upbeat. Management sees gross margin coming in at 47%-to-49% and revenue being $380 million-to-$410 million for the fiscal second quarter. The number of funds in our database with holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) rose by nine quarter-over-quarter to 33 as of the end of March, as they appeared to anticipate notable improvement in the company’s performance.

ITT Rises on Results

Traders are watching nano-cap ITT Educational Services, Inc. (NYSE:ESI) today after the company reported second quarter earnings of $0.18 per share on sales of $176.32 million. Although ITT’s revenue missed estimates by $2.73 million and total student enrollment decreased by 16.4% to 40,015, the company’s earnings beat expectations by a hearty $0.22 per share. Shares of the company are up by over 7% this morning as a result. Of the 766 active funds in our database, 14 of them owned $18.18 million worth of long positions in ITT Educational Services, Inc. (NYSE:ESI) on March 31, which accounted for 24.90% of the float.

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