Why Are Ctrip.com, Jabil Circuit, CLARCOR, and Two Other Stocks Trending Today?

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Brexit risk and declining oil prices dragged the markets lower on Thursday morning. The Federal Reserve and Bank of Japan have flagged Brexit as a real threat to the economic growth. Some of the stocks are in the spotlight today on the back of their earnings reports are Ctrip.com International, Ltd. (ADR) (NASDAQ:CTRP), Qunar Cayman Islands Ltd (NASDAQ:QUNR), Jabil Circuit, Inc. (NYSE:JBL), CLARCOR Inc. (NYSE:CLC), and KongZhong Corporation (ADR) (NASDAQ:KZ). Let’s take a closer look at their financial results and analyze how hedge funds have been positioned towards them.

At Insider Monkey, we track around 770 hedge funds and other institutional investors. Through extensive backtests, we have determined that imitating some of the stocks that these investors are collectively bullish on can help retail investors generate double digits of alpha per year (see more details about our small-cap strategy).

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Ctrip.com International Beats Estimates

Shares of Ctrip.com International, Ltd. (ADR) (NASDAQ:CTRP) climbed 1.94% in premarket trading today after the company beat estimates for the first quarter. The Shanghai, China based travel service provider posted a loss of RMB3.49 ($0.54), beating the estimates by RMB0.13. Revenue in the first quarter came in at RMB4.4 billion ($682 million), an 80% increase from the same quarter last year, and topping the consensus estimate by RMB30 million. In a statement, James Liang, CEO of Ctrip, said that the company did an excellent job in growing margins and revenue in the first quarter. Mr. Liang added that the company looks forward to add more innovation and outbound travel to its business for a sustainable, long term growth. A total of 67 hedge funds from Insider Monkey’s database were positioned in Ctrip.com International, Ltd. (ADR) (NASDAQ:CTRP) at the end of the first quarter. The total worth of these stakes is approximately $2.64 billion. Ken Fisher’s Fisher Asset Management owns 9.32 million shares of the company.

Follow Trip.com Group Limited (NASDAQ:TCOM)

Qunar Cayman Islands Misses Revenue Estimates

Qunar Cayman Islands Ltd (NASDAQ:QUNR) has posted mixed results for the first quarter of 2016. The China based travel products company reported a revenue of RMB993.1 million, missing the estimates by RMB136.9 million. Qunar’s loss came in at RMB2.48 per share, beating the estimates by RMB0.03. Only nine funds we track have stakes in Qunar Cayman Islands Ltd (NASDAQ:QUNR) as of the end of March.

On the next page, we will discuss Jabil Circuit, Clarcor and KongZhong.

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