Trending Stocks: Emerson Electric, JAKKS Pacific, Apollo Education and More

The stock market is trading higher on Friday following positive data from the US Bureau of Labor Statistics, which showed the creation of 287,000 jobs in June, vs. expectations of 175,000.

Some of the stocks that are trending this morning, include Emerson Electric Co. (NYSE:EMR), JAKKS Pacific, Inc. (NASDAQ:JAKK), WD-40 Company (NASDAQ:WDFC), Eleven Biotherapeutics Inc (NASDAQ:EBIO), and Apollo Education Group Inc (NASDAQ:APOL). Let’s find out why investors are keenly watching these stocks today and analyze the hedge funds sentiment towards each company.

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Bidders Lineup for Emerson Electric

Emerson Electric Co. (NYSE:EMR) is in the news this morning after Reuters reported, citing people familiar with the matter, that three companies are expected to submit their official bids to acquire Emerson Electric’s France-based alternator business Leroy Somer later this month. The bids will value the company at around $1.1 billion, the source added. The bidders include private equity group Clayton Dubilier & Rice, Wolong Electric and another Chinese company, which was not named by the source. Emerson Electric wants to sell Leory Somer, one of the most important assets of its Motors and Drives unit, as it plans to increase focus on process automation, heating and air conditioning. A total of 34 funds from our database were bullish on Emerson Electric Co. (NYSE:EMR) at the end of the first quarter. The aggregate value of their holdings was about $455.7 million.

Judge Rules in Favor of JAKKS Pacific

JAKKS Pacific, Inc. (NASDAQ:JAKK) is making headlines today following a US state judge dismissed claims of the company’s rival Wicked Cool Toys that JAKKS interfered with its contract to make Cabbage Patch Kids toys. JAKKS had sued Wicked Cool Toys and its former executive Jeremy Padawer last year of secretly collaborating with Original Appalachian Artworks to give JAKKS’s license for the toys to Wicked Cool. Wicked Cool Toys countersued JAKKS, and claimed that it used illegal means to damage the Cabbage Patch Kids brand. The judge trashed Wicket Cool Toys’ claims on Wednesday, saying that JAKKS had the right to flood the market with its toys at reduced costs. Out of around 766 funds from our database, 11 funds held stakes in JAKKS Pacific, Inc. (NASDAQ:JAKK) at the end of the first quarter. Among them, Jim Simons’ Renaissance Technologies owns 1.67 million shares of the company.

On the next page, we will see why WD-40 Company, Eleven Biotherapeutics and Apollo Education Group are making moves today. 

WD-40 Company Misses Revenue Estimate, Slashes Guidance

Investors are closely watching WD-40 Company (NASDAQ:WDFC) after the company released its fiscal third quarter financial results. The San Diego, California-based oil and water displacing spray maker earned $0.88 per share, above the analysts’ forecast of $0.86. Revenue in the quarter came in at $96.4 million, missing the expected $99.3 million. For full fiscal 2016, WD-40 Company sees its EPS in the range of $3.40 to $3.47. Revenue guidance for the full year is between $378 million and $383 million, versus the consensus estimate of $385.90 million. A statement released by the company said the financial results in the quarter were hurt due to flat domestic sales and currency headwinds abroad. As of the end of the first quarter, 11 funds tracked by Insider Monkey had stakes in WD-40 Company (NASDAQ:WDFC).

Eleven Biotherapeutics to Get $22.5 Million

Eleven Biotherapeutics Inc (NASDAQ:EBIO) has skyrocketed by nearly 40% after the company said its investigational new drug application for the treatment of diabetic macular edema has become effective, making the company eligible to receive $22.5 million from F. Hoffmann-La Roche Ltd and Hoffmann-La Roche Inc, according to the terms of an agreement reached last month. According to the agreement, Eleven Biotherapeutics could receive up to $262.5 million upon the achievement of various milestones. Only two investors from our database were bullish on Eleven Biotherapeutics Inc (NASDAQ:EBIO) at the end of March.

Apollo Education Beats Estimates

Apollo Education Group Inc (NASDAQ:APOL) is in the spotlight today after the company reported better-than-expected results for the fiscal third quarter. The Arizona based educational institutions company reported EPS of $0.37, topping the estimates of $0.28. Revenue of $558 million also beat the consensus of $546.97 million. In a statement, Apollo Education Group’s CEO Greg Cappelli said that the company is growing internationally; it servers 150,000 students on six continents. Mr. Cappelli added that Apollo Education Group will keep looking for “additional efficiencies” to support its long term strategic plans. Robert Rodriguez and Steven Romick’s First Pacific Advisors LLC is one of the 22 hedge funds from our database that reported stakes in Apollo Education Group Inc (NASDAQ:APOL) as of the end of the first quarter.

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