Thursday’s Hottest Stocks: Tesla, Boston Scientific, J M Smucker, More

Vail Resorts Reports Results

Vail Resorts, Inc. (NYSE:MTN) turned in a mixed fiscal third quarter, delivering EPS of $4.23 on revenue of $647.47 million, beating bottom-line expectations by $0.03 per share but missing top-line estimates by $5.16 million. Revenue rose by 11.8% as the number of skier visits jumped by 13.9% year-over-year. Effective average ticket pricing was also up by 8.2% year-over-year. Vail Resorts expects fiscal year 2016 Resort Reported EBITDA of $448 million-to-$454 million. 30 top funds in our system owned Vail Resorts, Inc. (NYSE:MTN) at the end of the first quarter, up by seven from the previous quarter.

Boston Scientific Announces Cost Cutting Initiative

In its effort to support long-term growth and innovation and boost profits, Boston Scientific Corporation (NYSE:BSX) unveiled a restructuring program that should reduce gross annual pre-tax operating expenses by around $115 million-to-$150 million by the end of 2020. Boston Scientific will use a substantial portion of the money saved to reinvest in strategic growth initiatives. The cost of the expense reduction program is expected to amount to $175 million-to-$225 million pre-tax. Cliff Asness‘ AQR Capital Management owned more than 1.1 million shares of Boston Scientific Corporation (NYSE:BSX) as of the latest 13F reporting period.

Capstead Mortgage Trims Dividend

Capstead Mortgage Corporation (NYSE:CMO) shares are off by 2% in pre-market trading after the company declared a second quarter common dividend of $0.23 per share, down from the previous quarterly dividend payment of $0.26 per share. Although lower, the quarterly dividend still amounts to an annual yield of over 9% at current share prices. Of the 766 elite funds that we track, 15 of them owned $32.3 million of Capstead Mortgage Corporation (NYSE:CMO)’s shares on March 31, which accounted for 3.40% of the company’s float.

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