Why Are These Stocks Trending Today?

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Yahoo! Inc. (NASDAQ:YHOO) is trending after the company terminated Screen, one of Yahoo’s online video efforts. Yahoo! Inc. (NASDAQ:YHOO) has come under attack lately by activists and frustrated shareholders who don’t think management is doing enough to cut costs and grow the company’s ex-Alibaba bottom line. Letting go of Screen is a first step that will make Yahoo more efficient. A total of 89 funds from our database were long more than 20% of Yahoo’s float on September 30.

Follow Altaba Inc. (NASDAQ:AABA)

Smith & Wesson Holding Corp (NASDAQ:SWHC) rallied by another 11% today after the company raised third quarter revenue and EPS guidance above consensus and issued bullish fiscal year 2016 EPS guidance range of $1.36 – 1.41, exceeding analyst estimates of $1.32. According to a press release:

“The company indicated that the sell-through rate of its products at distribution has been stronger than originally anticipated, resulting in reduced distributor inventories of its firearms. The company added that Adjusted National Instant Criminal Background Check System (NICS) data for the month of December, which serves as an indicator of consumer purchases, reflected strong growth versus December 2014.”

Because of the tragic shooting in San Bernardino, demand for guns has spiked, as a big gun manufacturer, Smith & Wesson Holding Corp (NASDAQ:SWHC) benefits. Joel Greenblatt’s Gotham Asset Management reported holding 1.1 million shares in its last 13F filing.

Follow Smith & Wesson Brands Inc. (NASDAQ:SWBI)

Disclosure: none

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