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

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).

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.

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.

Jabil Circuit Cuts Outlook for Fiscal 2016

Jabil Circuit, Inc. (NYSE:JBL) reported EPS of $0.17, better than the analysts’ estimates of $0.16 for the fiscal third quarter. Revenue in the quarter was $4.3 billion, up from the expected $4.18 billion. The Florida-based electronics supplier slashed its outlook for the full fiscal year amid lags in its mobility business. The company sees its fiscal 2016 EPS at $1.85, versus the consensus of $2.10, while full-year revenue is expected to amount to $18.2 billion, below the consensus of $18.45 billion. Cliff Asness’s AQR Capital Management is one of the 21 hedge funds from our database having stakes in Jabil Circuit, Inc. (NYSE:JBL) at the end of the first quarter. It has 5.44 million shares of the company.

CLARCOR Beats Estimates

CLARCOR Inc. (NYSE:CLC) has posted EPS of $0.73, better than the analysts’ estimates of $0.68. Revenue of $365 million also topped the estimates of $356.29 million. In a statement, CLARCOR’s CEO Chris Conway said that the company’s performance in the quarter got a boost from the 3M patent litigation settlement award and added that the company is seeing stabilization in agricultural and construction equipment markets, but natural gas filtration business is still experiencing uncertainty. At the end of the first quarter, 11 funds from our database amassed around $92.3 million worth CLARCOR Inc. (NYSE:CLC)’s stock. Mario Gabelli’s GAMCO Investors owns 582,925 shares of the Tennessee based packaging and filtration products maker.

KongZhong’s Revenues Rise

KongZhong Corporation (ADR) (NASDAQ:KZ) reported fiscal first-quarter EPS of $0.54 on $51.44 million in revenue, a 1.8% rise on the year. The Chinese entertainment services provider said in a statement that it will continue to concentrate on internet and mobile games, similar to its famous military genre online game platform “War Saga”. Ernest Chow and Jonathan Howe’s Sensato Capital Management is one of the four funds tracked by us that own shares of KongZhong Corporation (ADR) (NASDAQ:KZ) as of the end of March.

Disclosure: None