Why Synergy Pharmaceuticals, Tesla, Tencent and More Are Trending

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Tencent Holdings Ltd (OTCMKTS:TCTZF) is in the spotlight due to the news that Epic Games, the creator of Fortnite has raised $1.25 billion in capital from a variety of investors including KKR & Co. Tencent Holdings Ltd (OTCMKTS:TCTZF) benefits from this news due to the fact that it owns 40% of the videogame maker. If Fortnite has more capital, it can better compete against copycats and other forms of entertainment.

Flex Ltd (NASDAQ:FLEX) shares fell 35% on Friday after the company whiffed on its second quarter earnings report. Although Flex reported better than expected EPS (adjusted EPS of $0.29 versus estimates of $0.28), sales missed by $80 million, coming in at $6.71 billion, and guidance was below estimates.The CEO, Michael McNamara also said that he would retire at the end of the year, and the company disclosed that it and NIKE have agreed to wind-down a footwear manufacturing operation in Guadalajara by December 31, 2018. Due to the wind down, Flex Ltd (NASDAQ:FLEX) recognized $30 million of exit costs and could potentially incur more expenses. According to our data, 13 top funds reported holdings in FLXN, good for over $93 million at the end of Q2. The CEO, Michael McNamara also said that he would retire at the end of the year, and

Last on our list is Lantronix Inc (NASDAQ:LTRX), which fell 17% after the company reported first quarter adjusted earnings of $0.04 per share on sales of $12.3 million. Although both numbers beat estimates, Lantronix Inc (NASDAQ:LTRX) bulls may have been expecting even better results. The provider of secure data access and management solutions for IoT reported gross profit margin of 54.9%, up 200 basis points, and increased cash position to $18.9 million as of September 30, 2018. Tariffs are affected the company in the near term. The company anticipates $200,000 of tariff-related expenses for the next fiscal quarter.

Disclosure: None

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