Twitter, Vale Among 5 Stocks Going Viral Today

Greif Reports Earnings

Greif, Inc. (NYSE:GEF), a world leader in industrial packaging products and services, is in the spotlight after its fiscal year 2016 third quarter earnings came in ahead of expectations. For the period, Greif earned $0.91 per share, beating the consensus analyst estimate by $0.19. Revenue came in at $845 million, down by 9.1% year-over-year, and missing estimates by $65.83 million. For its full fiscal year, Greif expects Class A earnings per share before special items of $2.36-to-$2.56 and free cash flow of $160 million-to-$190 million. 21 hedge funds that we track were long Greif, Inc. (NYSE:GEF) at the end of the second quarter, up by four funds quarter-over-quarter.

Brazilian Companies in the Spotlight After Dilma Rousseff Is Removed As President

Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) and Vale SA (ADR) (NYSE:VALE) are in the spotlight today after Brazil’s senate removed Dilma Rousseff from office. In a 61-to-20 vote, the Senate convicted the former President of manipulating the budget to conceal the true nature of the country’s economic malaise. Although the ruling was widely anticipated, it remains to be seen how the market will react to the news in the medium-term. On one hand, more sure-handed leadership could improve Brazil’s economy, which would be good for stock valuations across the board, including for Petrobras and Vale. On the other hand, the political uncertainty could prolong Brazil’s economic slide for the quarters to come.

In terms of hedge fund ownership, 23 funds in our database owned shares of Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) at the end of June, while 24 funds were long Vale SA (ADR) (NYSE:VALE).

Disclosure: None