Tuesday’s Headline Makers: Ralph Lauren, Axiall, Godaddy, More

United Natural Foods Beats Estimates

United Natural Foods, Inc. (NASDAQ:UNFI) has pushed more than 13% into the green today after reporting better than expected third quarter of fiscal year 2016 results. The Providence, Rhode Island-based food company posted EPS of $0.76, easily topping analysts’ consensus estimate of $0.66. Revenue for the quarter came in at $2.13 billion, narrowly missing the consensus mark of $2.16 billion. For the full 2016 fiscal year the company expects its EPS to be in the range of $2.47 to $2.53, versus the estimates of $2.38. Ken Fisher’s Fisher Asset Management is one of the 61 hedge funds that had a stake in United Natural Foods, Inc. (NASDAQ:UNFI) as of the end of March.

Biogen’s Drug Fails to Meet Endpoints

Biogen Inc (NASDAQ:BIIB)’s stock has plunged by more than 11% on Tuesday after the company announced that the Phase 2 study of its multiple sclerosis drug, Opicinumab, was unable to meet its primary and secondary endpoints. In a statement, Biogen’s Chief Medical Officer Alfred Sandrock, said that the company continues to analyze the results in preparation for the next study, due to the complexity of the dataset. 64 hedge funds tracked by Insider Monkey owned around $3.1 billion worth of Biogen Inc (NASDAQ:BIIB) shares as of the end of the first quarter.

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Godaddy Downgraded by Citigroup

Godaddy Inc (NYSE:GDDY) is in the spotlight today after Citigroup downgraded the company to ‘Neutral’ from ‘Buy’ in a research report issued to investors on Tuesday. The firm has a price target of $35 on shares of the Arizona-based web hosting company, suggesting upside of under 10%. Shares are down by 3% in morning trading following the downgrade. The Citi analysts cited a near-term slowdown in margin expansion and growth for the company as prompting the ratings downgrade. A total of 22 hedge funds in our system were long Godaddy Inc (NYSE:GDDY), with the total worth of their investments clocking in at around $1.2 billion. Jim Davidson, Dave Roux and Glenn Hutchins’ Silver Lake Partners was the biggest of those 22 shareholders with more than 36.7 million shares of the company.

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Disclosure: None