Why Are These Four Stocks on the Move on Friday?

Fortinet Inc (NASDAQ:FTNT)‘s stock is down by 20% on the back of its financial results for the last quarter, although the company managed to beat both earnings and revenue expectations. The company delivered 35% annual revenue growth to $260.1 million, while adjusted earnings per share inched up to $0.14 from $0.12. Compared to estimates, Fortinet Inc (NASDAQ:FTNT)’s earnings were $0.02 above estimates and revenue came in slightly above the estimates of $259.4 million. However, among the funds we track, Fortinet Inc (NASDAQ:FTNT) did not manage to capture a lot of attention, since only 26 funds reported holding stakes equal to 4.60% of its outstanding stock (by comparison 45 funds reported stakes in rival Palo Alto Networks Inc (NYSE:PANW)).

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Finally, Southwestern Energy Company (NYSE:SWN) is down by 5%, which is slightly higher than at the opening. The oil and gas E & P company disappointed investors by swinging to a net loss of $4.62 per share for the third quarter, compared to a profit of $0.60 delivered in the same period of 2014. Its revenue also declined to $748 million, down by 19% year-over-year, and below estimates of $767 million. However, the adjusted net profit of $0.01 per share, was better than the $0.03 loss expected by the Street. Overall, the funds that owned shares of Southwestern Energy Company (NYSE:SWN) at the end of June were somewhat optimistic about its prospects, as they amassed over 8% of its outstanding stock. However, only 33 funds held positions in Southwestern Energy Company (NYSE:SWN) out of more than 700 that we track, including Israel Englander‘s Millennium Management, D. E. Shaw, and Steve Cohen‘s Point72 Asset Management.

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