Why These Five Stocks Are on the Move Today?

Technical Selling Detected At Yirendai

Traders may be taking some money off the table today after Chinese peer-to-peer lending company Yirendai Ltd – ADR (NYSE:YRD) surged by more than 200% from its February lows. Although there is no fundamental news concerning the company, shares of Yirendai Ltd – ADR (NYSE:YRD) are off by 7.25% on the day. Traders could also be selling because the peer-to-peer leader in the U.S, LendingClub Corp (NYSE:LC), has slid due to various reasons, including the resignation of its CEO, Renaud Laplanche. Of the 786 elite funds we track, 12 funds owned $19.5 million worth of Yirendai Ltd – ADR (NYSE:YRD) shares, which accounted for 3.50% of the float at the end of December.

Technical Buying Detected At  GigPeak

Although there is no fundamental news concerning the company, GigPeak Inc (NYSEMKT:GIG) is 14% in the green today as traders buy on a technical breakout. Shares of the company have rallied over the past four quarters and the stock is now above some key moving averages. According to our database, Jim Simons’ Renaissance Technologies was among nine investors long GigPeak Inc (NYSEMKT:GIG) at the end of December. As with all micro-caps, investors should do their due diligence before making an investment decision.

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Macy’s Up On Consumer Sentiment Survey

Macy’s, Inc. (NYSE:M) has inched up by 1% in late afternoon trading amid the release of a Reuters/University of Michigan consumer sentiment survey that showed the average U.S. consumer being more optimistic than in the past due to the improved job outlook, and more frequent income gains. If consumers are more optimistic, they will spend more, which will have a positive impact on Macy’s, Inc. (NYSE:M)’s financials. A total of 51 elite funds owned shares of the retailer at the end of the fourth quarter, down from 67 funds in the previous quarter.

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