Why These Five Stocks Are in Spotlight on Friday

On the other hand, Goldcorp Inc. (USA) (NYSE:GG)’s shares have lost around 10% today, due to an unexpected loss in its financial results for the fourth quarter of 2015. The gold mining company posted a loss of $0.15 per share, which represents a decline from a profit of $0.07 per share registered a year earlier. The company’s revenue of $1.07 billion has increased by 28% year-over-year. In this way, Goldcorp’s revenue was in-line with the estimates, but the bottom line fell short of the consensus estimate of $0.16. Goldcorp Inc. (USA) (NYSE:GG) also cut its dividend to $0.08 from $0.24 per share. In addition, it has changed its payment schedule so that future dividends will be paid quarterly. Also, the company lowered its production outlook and expects to produce between 2.8 and 3.1 million ounces of gold this year, below the 3.46 million figure in 2015. During the fourth quarter, Goldcorp Inc. (USA) (NYSE:GG) registered a decrease in popularity among the fund we track and the number of investors with long positions slid to 25 from 29. First Eagle Investment Management owned 39.48 million shares of Goldcorp at the end of December.

Peregrine Pharmaceuticals (NASDAQ:PPHM)’s stock fell by more than 60% after the company announced the interruption of its bavituximab chemotherapy program. The company said on Thursday that it will discontinue Phase III studies involving patients with lung cancer, based on the recommendation of the Data Monitoring Committee (IDMC), following analyses that revealed that patients had not shown a significant improvement. Peregrine Pharmaceuticals is not so popular among the investors in our database and just six investors reported long positions as of the end of December, amassing 1.50% of the company’s outstanding stock. Among these funds is Jim Simons’ Renaissance Technologies, with a holding of 1.39 million shares.

Last but not least, Republic Airways Holdings Inc. (NASDAQ:RJET)’s shares are more than 70% in the red after the company filed for Chapter 11 bankruptcy protection in a New York court. CEO Bryan Bedford pointed to several quarters of falling revenues and stopped aircrafts on the ground amid a shortage of pilots. Despite the difficult scenario to overcome, the company said it has sufficient assets to meet its obligations. Of the 730 funds that we track, 13 investors held 29.0% of Republic Airways’ stock at the end of December. Among the funds long the stock is Andrew Axelrod’s Axar Capital with a holding of 5.04 million shares.

Disclosure: None