It’s a rather flat day on Wall Street, as all three major indexes are hovering around level ground for the day. The Dow Jones is up by just seven points while the S&P 500 is down by a single point. While the broader market is flat, shares of Argos Therapeutics Inc (NASDAQ:ARGS), CalAmp Corp. (NASDAQ:CAMP), Alere Inc (NYSE:ALR), Clean Energy Fuels Corp (NASDAQ:CLNE), and Yum! Brands, Inc. (NYSE:YUM) are not so lucky, as all five stocks are in the red this morning. Let’s find out what is going on with these five stocks and see what the smart money in our database collectively thinks of each of them.
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Argos COO to Resign
Argos Therapeutics Inc (NASDAQ:ARGS) shares are 24% in the red today after the company filed a report with the SEC announcing that its COO, Fred Miesowicz, will resign on April 22. In the same report, Argos announced that it will cut its workforce by 13% or 18 employees to reduce operating expenses by approximately $2.3 million a year. Argos’ lead drug candidate is AGS-003, which is in Phase III trials for the possible treatment of metastatic renal cell carcinoma. Of the 786 elite funds Insider Monkey tracks, two of them were long the stock, owning slightly over half-a-million dollars worth of Argos Therapeutics Inc (NASDAQ:ARGS)’s shares between them at the end of 2015.
CalAmp Lower on Earnings
CalAmp Corp. (NASDAQ:CAMP) has fallen by 13% in late morning trading after the company reported disappointing earnings for its fourth quarter of fiscal year 2016. For the fiscal period, CalAmp earned $0.32 per share on revenue of $70.8 million, meeting earnings estimates but falling short of top-line expectations by $0.25 million. Revenue from the company’s wireless datacom segment inched down by 2.6% year-over-year while adjusted EBITDA came in at $13.7 million. For the first quarter of fiscal year 2017, CalAmp anticipates consolidated revenue from continuing operations of $77 million-to-$85 million. Jim Simons‘ Renaissance Technologies owned 133,800 shares of CalAmp Corp. (NASDAQ:CAMP) at the end of 2015.
On the next page, we examine why Alere Inc, Clean Energy Fuels Corp, and Yum! Brands Inc. are all treading water today.