Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Why These 5 Prominent Stocks Are Making Moves Today

The markets looked a little shaky on Thursday morning as oil prices and earnings’ reports threatened to dent sentiment, but they have rebounded into positive territory in the early afternoon hours. Among the stocks generating the most interest and trading activity today are BlackRock, Inc. (NYSE:BLK), Pier 1 Imports Inc (NYSE:PIR), PepsiCo, Inc. (NYSE:PEP), Sunedison Inc (NYSE:SUNE), and Chipotle Mexican Grill, Inc. (NYSE:CMG). Let’s have a detailed look at the factors behind the movement in these stocks and analyze hedge funds’ collective sentiment towards them.

Our research has shown that the best strategy is to follow hedge funds into their small-cap picks. This approach can allow monthly returns of nearly 95 basis points above the market, as we determined through extensive backtests covering the period between 1999 and 2012 (see the details here).

Weak Earnings Report from BlackRock

BlackRock, Inc. (NYSE:BLK)’s stock has gained 1.60% today after the gargantuan investment firm reported its earnings for the first quarter. The firm reported earnings of $4.25 per share, missing analysts’ expectations of $4.29 per share. Revenue declined by 3.6% year-over-year to $2.62 billion, while there was a 20% year-over-year drop in first quarter profits, to $657 million. Larry Fink, CEO of BlackRock, cited lower fees collected on investment products as the main reason for the bleak quarterly report. Last month, Bloomberg reported that the firm is planning to cut 400 jobs because of market pressure and rising costs.

34 funds in our system held long positions in BlackRock at the end of 2015, with a total value of approximately $485.7 million. Phill Gross’ Adage Capital Management was one of the most notable of those shareholders, with ownership of more than 190,000 shares of the company.

Follow Blackrock Inc. (NYSE:BLK)
Trade (NYSE:BLK) Now!

Declining Sales and Revenue at Pier 1

Shares of Pier 1 Imports Inc (NYSE:PIR) are down by approximately 4.77% this afternoon following its earnings report for the fourth quarter of fiscal year 2016. The retailer reported earnings of $0.23 per share, down from $0.37 per share a year earlier, while the company’s revenue dipped by 1.4% year-over-year to $542.33 million. Pier 1 Imports’ strategy to shift towards e-commerce was partly responsible for the dent in sales.

Overall, 12 hedge funds out of those tracked by Insider Monkey held positions in Pier 1 Imports at the end of the fourth quarter. Mario Gabelli’s GAMCO Investors held 954,700 shares of Pier 1 Imports Inc (NYSE:PIR) on December 31.

Follow Pier 1 Imports Inc (NYSE:PIR)
Trade (NYSE:PIR) Now!

We uncover the driving forces behind three other moving stocks today on the next page.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.