Why Fabrinet, Chemours, TriNet, FMC, and AXT Are Posting Big Gains Today

FMC Revenue Surges by 21.2%

Shares of FMC Corp (NYSE:FMC) are trading up by roughly 6.5% this afternoon following the announcement of the company’s first quarter financial results. The chemical firm posted EPS of $0.58, $0.05 above the Street’s consensus, on revenue of $799 million, up by 21.2% year-over-year, and $7.81 million ahead of estimates. In addition, management boosted its earnings guidance for 2016, with the company now expecting EPS of $2.55-to-$2.85 for the year, up from a prior outlook of $2.50-to-$2.80.

As of the end of 2015, 26 funds in our database held 17.8% of FMC Corp (NYSE:FMC)’s float. Among them was Larry Robbins’ Glenview Capital, which disclosed ownership of 11.89 million shares of the company as of the end of 2015.

Chemours Finally Becomes Profitable

Another chemicals firm among the day’s big gainers is Chemours Co (NYSE:CC), which is up by 5.6% in the early afternoon after the company delivered first quarter EPS of $0.06 on revenue of $1.3 billion, beating estimates by $0.04 and $30 million, respectively. It should be noted that this was the company’s first profitable quarter since it was spun off from E I Du Pont De Nemours And Co (NYSE:DD) in the middle of last year.

Among the firms that we keep track of, 22 were long Chemours Co (NYSE:CC) by the end of the fourth quarter. Their combined staked accounted for almost 20% of the company’s total outstanding stock by December 31.

Micro-Cap Also Outperforms

Finally, there’s AXT Inc (NASDAQ:AXTI), which is up by almost 25% following a top and bottom-line beat in the company’s latest quarterly financial results. After the bell rang on Monday, the micro-cap tech firm reported flat EPS for the quarter, $0.03 above the Street’s consensus, on revenue of $18.7 million, which beat estimates by $630,000.

Given its small market cap, AXT Inc (NASDAQ:AXTI) counted very few hedge fund supporters as of the end of 2015. On December 31, only three funds in our database held long positions in the stock. However, their positions did account for almost 14% of the company’s outstanding stock.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned in this article.