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Why HSBC, Texas Roadhouse, Clorox and Two Other Stocks Are Trending Today

Markets tumbled on Tuesday amid a fall in oil prices and sell-offs in several stocks. On the other hand, earnings season continues and among the companies that have announced their quarterly earnings reports are HSBC Holdings plc (ADR) (NYSE:HSBC), Texas Roadhouse Inc (NASDAQ:TXRH), Pitney Bowes Inc. (NYSE:PBI), Clorox Co (NYSE:CLX), and Mylan NV (NASDAQ:MYL). Let’s have a closer look at their earnings reports and assess the smart money sentiment towards them.

At Insider Monkey, we track around 785 hedge funds and other institutional investors. Through extensive backtests, we have determined that imitating some of the stocks that these investors are collectively bullish on can help retail investors generate double digits of alpha per year (see more details about our small-cap strategy).

HSBC Reports Bad Quarter Due to Market Volatility

HSBC Holdings plc (ADR) (NYSE:HSBC)’s stock has lost more than 1% after the company reported an 18% decline in profits before tax for the first quarter, following massive market uncertainty at the beginning of the year, which dented its investment banking and wealth management businesses. Pre-tax profit fell to $6.1 billion from $7.1 billion a year earlier, but beat the estimates of $4.3 billion. HSBC’s net profit in the first quarter was $4.3 billion, down from $5.26 billion in the first quarter of 2015. Total revenue in the quarter stood at $13.9 billion, a 4% decline year over year. Revenue fell 6%, less than the 14% forecast. In a statement, Stuart Gulliver, CEO of the company, said that the tough market conditions affected the entire banking sector. He added that the company’s performance was “resilient” in the given environment. At the end of the fourth quarter of the last year, eight funds that we track held $537.9 million worth of HSBC Holdings plc (ADR) (NYSE:HSBC)’s shares in aggregate.

Texas Roadhouse’s Sales Increase

Texas Roadhouse Inc (NASDAQ:TXRH)’s stock was moving 3.7% in the green today after the company posted first-quarter revenue of $515.5 million, almost in-line with the estimated $516 million. The restaurant company’s EPS of $0.50 narrowly missed the Street’s consensus estimate of $0.54. Texas Roadhouse’s comparable-restaurant sales grew by 4.6% in the quarter, whereas franchise outlets’ growth was 3.1%. Overall, 15 funds from our database held stakes in Texas Roadhouse Inc (NASDAQ:TXRH) at the end of 2015, including Steven Richman’s East Side Capital (RR Partners), which reported holding 1.1 million shares in its last 13F filing.

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On the next page, we will discuss earnings of Pitney Bowes, Clorox and Mylan.

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