What’s The Deal With These Stocks Getting Pounded Today?

Polaris Industries Inc. (NYSE:PII) is down by more than 11% today, hitting a 52-week low in the process after it reported its third quarter earnings this morning. A manufacturer of ATV’s, snowmobiles, and motorcycles, Polaris Industries’ results appear to be strong on the surface, as its revenue of $1.46 billion and earnings of $2.30 per share each narrowly beat expectations, while the Minnesota-based company also narrowed its full year guidance towards the upper end of the previous guidance range. Nonetheless, the market has been taken aback by some aspect of the report, be it the declining snowmobile sales, down by 52%, or the modest international growth of just 1%. Billionaire Ken Griffin held a 1.99 million-share stake in Polaris Industries Inc. (NYSE:PII) as of June 30, up by 489% during the second quarter.

St. Jude Medical Inc. (NYSE:STJ) has fallen by 8.85% today after releasing its third quarter results and updating its fiscal year 2015 guidance. The earnings guidance update of $3.93-to-$3.95 per share for the year came in below the consensus estimate of $3.98, while its revenue of $1.34 billion came in slightly beneath estimates of $1.35 billion. That revenue figure represented a year-over-year decline of 2.4%. Shares have gradually weakened since late-August, when they temporarily spiked due to a mistaken report that Abbott Laboratories (NYSE:ABT) was preparing a $25 billion takeover offer for St. Jude Medical, which it quickly denied. Surprisingly, it actually took several days for shares to correct from the erroneous report. St. Jude Medical Inc. (NYSE:STJ), a medical device maker, was found in the portfolios of 41 investors that we monitor, who held 3.80% of its outstanding shares.

Lastly is EXCO Resources Inc (NYSE:XCO), which like Weight Watchers, has experienced a small correction today, declining by a little over 4% after gaining more than 23% yesterday. Yesterday’s surge came after the oil and natural gas company announced a series of moves intended to reduce its debt and improve its liquidity. Among the deals was an agreement with subsidiaries of Prem Watsa’s Fairfax Financial Holdings to provide a $300 million Senior Secured Second Lien Term Loan to EXCO. EXCO also issued $591 million of 12.5% Senior Secured Second Lien Term Loans and repurchased $577 million of Unsecured Notes for $291 million, reducing its net debt by approximately 18%. Watsa’s Canadian holding company is one of the largest investors in EXCO Resources Inc (NYSE:XCO) among the firms we follow, holding 17.54 million shares on June 30.

Disclosure: None