Cal-Maine Foods Inc (NASDAQ:CALM) has surged back to nearly level after being down by 7% in pre-market trading after the company reported disappointing first quarter results for its fiscal 2017 year. For the period, Cal-Maine lost $0.64 per share on revenue of $239.85 million, missing the average analyst estimates by $0.31 per share and $34.72 million respectively. Sales dropped by a whopping 60.7% year-over-year, as egg prices tumbled. The average selling price for a dozen eggs averaged $0.952 during the fiscal quarter, versus the $2.243 mean for the year-ago period. In addition to the lower prices, feed costs per dozen produced were also marginally higher year-over-year. Due to the disappointing quarter, Cal-Maine did not pay a dividend during the third quarter, which is consistent with the company’s variable dividend policy. 22 funds in our system owned shares of Cal-Maine Foods Inc (NASDAQ:CALM) at the end of June, down by seven funds from the end of March.
Netflix, Inc. (NASDAQ:NFLX) is in the spotlight after UBS said that a recent survey conducted by the bank showed that American consumer satisfaction with competitors such as Amazon.com, Inc. (NASDAQ:AMZN)‘s Amazon Prime video and Hulu have now approximately matched the consumer satisfaction of Netflix. Given the survey data, the analysts think that Netflix’s pricing power is uncertain, and that Netflix shareholders should “monitor competitive threats closely.” Despite the new information, UBS has kept its ‘Neutral’ rating and $92 price target on the internet streamer.
Amazon.com, Inc. (NASDAQ:AMZN) was one of the top stocks among the hedge funds in our database, being held by 145 of them at the end of June. At the same time, 54 funds were long Netflix, Inc. (NASDAQ:NFLX), down by ten quarter-over-quarter.