Why Kingtone (KONE) Has Skyrocketed By 304% Today, Plus 4 Other Stocks Making Noise

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IPG Slips On Revenue Miss

Shares of Interpublic Group of Companies Inc (NYSE:IPG) are trading down by more than 6.1% on Thursday, following the announcement of the company’s second quarter financial results. EPS of $0.33 per share was in-line with the Street’s consensus estimate, but revenue of $1.92 billion fell short of expectations of $1.93 billion, partly on the back of FX headwinds.

“Despite increased macro uncertainty, the tone of the business remains sound,” CEO Michael Roth stated. “We therefore continue to believe that we will deliver at the high end of our original 3% to 4% organic growth target for the full year, as well as expand operating margin by 50 basis points or better.”

37 funds in our database were long Interpublic Group of Companies Inc (NYSE:IPG) at the end of the first quarter, holding about 20% of the company’s float. Noteworthy positions were held by Harris Associates and Paul Singer’s Elliott Management, which held 16.6 million shares and 15.6 million shares of the stock respectively on March 31.

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Encana Surges On EPS Beat

Finally, there’s Encana Corp (USA) (NYSE:ECA), which has risen by more than 7.5% today, driven by strong second quarter results. Before the bell this morning, the company posted EPS of $0.10, $0.19 ahead of expectations, thanks to reduced drilling costs across its main assets. “By reinvesting savings and modestly increasing capital, we are adding 50 percent more drilling and completions activity to our 2016 program,” CEO Doug Suttles explained.

Among the funds that we keep track of, 28 disclosed long positions in Encana Corp (USA) (NYSE:ECA) as of the end of the first quarter. The largest institutional shareholder of record on March 31 was Andreas Halvorsen’s Viking Global, owning a position of 80.58 million shares.

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

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