TiVo, Tyco, and Baidu Among 5 Stocks Making Morning Headlines

VF Corp Turns in Good Quarter

VF Corp (NYSE:VFC) reported a good first quarter and its shares are modestly higher because of it. For the first three months of the year, VF earned $0.61 per share on revenue of $2.84 billion, beating estimates of $0.58 per share and $2.83 billion respectively. Although overall sales were largely unchanged from the first quarter of last year, the company’s top five brands saw their revenue inch up by 2%, while direct-to-consumer revenue rose by 7%. Management reiterated its full year revenue increase outlook of mid-single-digit percentage growth and EPS on a currency neutral basis to rise by 11% versus the adjusted EPS of $3.08 that the company earned in 2015. Cliff Asness‘ AQR Capital Management cut its holdings in VF Corp (NYSE:VFC) by 63% quarter-over-quarter to 656,400 shares by the end of the fourth quarter.

Moody’s Misses Top and Bottom-line Estimates

Moody’s Corporation (NYSE:MCO) earned $0.93 per share on sales of $816.1 million for the first quarter, missing analysts’ expectations by $0.13 per share and $36.01 million respectively, as reduced global bond issuance weighed on performance. Given the weak market conditions, management is focused on containing costs and increasing efficiency. It has also lowered its 2016 full year EPS guidance to $4.55-to-$4.65, including a $0.02 dilution due to the acquisition of GGY in the first quarter. Warren Buffett‘s Berkshire Hathaway owned almost 25 million shares of Moody’s Corporation (NYSE:MCO) at the end of December.

Baidu Reports Strong Growth

Chinese search company Baidu Inc (ADR) (NASDAQ:BIDU) is 6.84% higher this morning after reporting first quarter earnings of RMB6.80 ($1.05) per share on sales of RMB15.82 billion ($2.44 billion). Baidu’s earnings beat estimates by $0.13 per share, while its revenue was in-line with projections. Mobile comprised 60% of total revenue for the quarter, up by ten percentage points from the first quarter of 2015. Management expects second quarter revenue of RMB20.11 billion-to-RMB20.58 billion ($3.10 billion-to-$3.18 billion), above the consensus of RMB20.1 billion ($3.10 billion) at the mid-point.

Of the 786 active funds that we track, 55 funds owned $4.19 billion worth of Baidu Inc (ADR) (NASDAQ:BIDU)’s shares on December 31, which accounted for 8.00% of the stock’s float on December 31.

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