Why Dean Foods, Bristol-Myers, and Three Other Stocks Are on the Move Today

Alibaba Won’t Snatch Netflix Yet

Shares of Netflix, Inc. (NASDAQ:NFLX) are trading down today after an Alibaba Group Holding Ltd (NYSE:BABA) spokesperson told Reuters that the eCommerce Chinese giant would not make an investment in the streaming champion right now, dispelling the rumors that had been circulating recently. Among the investors in our database, 64 funds held long equity stakes in Netflix, Inc. (NASDAQ:NFLX) at the end of the first quarter, including Chase Coleman’s Tiger Global Management, which held almost 18 million shares.

Chesapeake Rebounds On Stronger Crude

Opposite to its peers above, Chesapeake Energy Corporation (NYSE:CHK) is up today, helped by a rebound in oil prices – Brent Cruse rose almost 2.6% while WTI Crude spiked up 3%. Also helping the stock seemed to be a report out of RBC Capital Markets, which said the company is on a “long road to recovery,” after its second quarter results missed expectations last week. A total of 31 funds tracked by us were long Chesapeake Energy Corporation (NYSE:CHK) at the end of the first quarter.

Ceragon Results Fail To Impress

Finally, there’s Ceragon Networks Ltd (NASDAQ:CRNT), down by 11.95% after the micro cap tech firm reported non-GAAP EPS of $0.02 for the second quarter, down from $0.04 in the same quarter last year. Revenue of $70 million was also down by 26.1% year-over-year. However, “Strength in India and Latin America drove sequential improvement in bookings and revenues during the second quarter,” the company said in a press release. Only three investors among those we track were long Ceragon Networks Ltd (NASDAQ:CRNT) at the end of the first quarter.

Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.