Why Himax, Petrobras, Staples, and More Are Trending Today

International Speedway Reports Earnings

International Speedway Corp (NASDAQ:ISCA) shares have retreated by more than 5% after the company reported second quarter earnings of $0.29 per share on revenue of $167.56 million, missing the bottom-line consensus by $0.03 per share and beating the top-line estimates by $4.56 million. Although admissions revenue fell by 8% year-over-year, motorsport strength helped raise overall revenue by 2.2%. International Speedway Corp (NASDAQ:ISCA) shares are in the red mainly because of weak guidance. The company expects 2016 fiscal year earnings per share of $1.45-to-$1.55, meeting the average analyst estimate of $1.55 only at the very high end of its estimate. Management sees revenue coming in at $658 million-to-$665 million, missing the consensus of $666 million completely. 20 funds in our system owned shares of International Speedway Corp (NASDAQ:ISCA) as of the most recent 13F reporting period.

Barron’s Likes Southwest 

Barron’s published a bullish article on Southwest Airlines Co (NYSE:LUV) this weekend, writing that the company could “soar more than 35%” as its margins grow due to the trend towards more rational pricing. The financial magazine also notes that Southwest has “little to no exposure” to Europe, given that the company flies almost exclusively within the United States. Despite the bullish write-up, shares of Southwest are lower today due to broader sector weakness. 58 elite funds that we track owned shares of Southwest Airlines Co (NYSE:LUV) at the end of the first quarter, up by six funds from the end of 2015.

Staples Considers Pulling out of the United Kingdom

Following the battering of banking and real estate stocks, the latest victim of the Brexit may be some retail sector stocks. According to the Telegraph, Staples, Inc. (NASDAQ:SPLS) is considering leaving the United Kingdom due to declining sales and low profitability in the region. Staples’ UK division currently has 107 stores and the lower British pound and potential recession in the country makes continuing to operate those stores less attractive. The number of elite funds with holdings in Staples, Inc. (NASDAQ:SPLS) rose by three quarter-over-quarter to 52 as of the end of March.

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