Why Investors Are Buzzing About Yum, Twitter, GM, RetailMeNot, and Array Biopharma Today

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Traders are talking about General Motors Company (NYSE:GM) today after the company offered a buyout to 400, or 43%, of its 925 Cadillac dealers. Under the terms, GM will provide up to $180,000 in transition assistance for each of the dealers, many of which were unwilling to invest the capital necessary to better their dealerships to sell more Cadillacs. GM is offering the buyouts to restructure Cadillac’s brand to better compete against other luxury brand automakers. 65 funds in our database were long General Motors Company (NYSE:GM) at the end of the second quarter.

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RetailMeNot Inc (NASDAQ:SALE) shares have crumbled by nearly 22% after Stifel Nicolaus downgraded the stock to ‘Sell’ from ‘Hold’, citing third-party data that shows RetailMeNot’s traffic trends deteriorating. Due to that data, the analysts are uncertain about the company’s growth outlook and have a $9 price target on the stock, which it has fallen under today. The number of funds in our system with holdings in RetailMeNot Inc (NASDAQ:SALE) rose by two during the second quarter to 17 at the end of June.

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Array Biopharma Inc (NASDAQ:ARRY) has surged by over 63% after a Phase 3 study of encorafenib plus binimetinib for BRAF-mutant melanoma met its primary endpoint of significantly improving progression-free survival compared to vemurafenib alone. In addition, the drug cocktail was generally well tolerated and the safety profile was consistent overall with prior clinical trial results. Due to the results, Array’s management has said that global regulatory submissions are planned for 2017. The smart money liked Array Biopharma Inc (NASDAQ:ARRY) in the second quarter, as 17 funds that we follow were long 42.60% of the biotech’s float on June 30.

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Disclosure: None

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