Why These Five Stocks Are Trending on Wednesday?

Glu Mobile Inc. (NASDAQ:GLUU)’s stock has slipped by over 17% on the back of the company’s disappointing first-quarter results, which included a net loss of $0.03 per share, better than the expected loss of $0.05, while the revenue of $54 million missed the estimates of $54.50 million. However, the developer of mobile games also announced plans to slash its workforce by 85 people and said it expects revenue in the range of $46 million to $49 million for the second quarter, which is considerably below the current consensus estimate of $59 million. A total of 13 funds from our database reported long positions in Glu Mobile Inc. (NASDAQ:GLUU) as of the end of 2015, down by eight on the quarter. These funds held nearly 16% of Glu Mobile’s outstanding shares heading into 2016.

Shares of Randgold Resources Ltd. (ADR) (NASDAQ:GOLD) are over 10% in the red, even though the Africa-focused gold miner posted EPS of $0.58, higher than $0.52 a year ago and gold sales of $345.77 million, versus $344.63 million a year earlier. However, the production was down by 11% on the quarter and up by 4% on the year and the stock declined amid investors’ concerns over production for the full year. Just 10 funds from our database reported holding shares of Randgold Resources Ltd. (ADR) (NASDAQ:GOLD) as of the end of 2015, down by 10 over the quarter. In the current round of 13F filings, Eric Sprott‘s Sprott Asset Management reported ownership of 192,864 shares of Randgold Resources Ltd. (ADR) (NASDAQ:GOLD) as of the end of March.

Finally, shares of Relypsa Inc (NASDAQ:RLYP) are 18% lower today on the back of the biotech company announcing that it closed an offering of $150 million in senior secured loans that carry a 11.5% interest and are due April 2022. The market responded negatively to the increase of debt as the company currently has a single drug, Veltassa for the treatment of hyperkalemia. Analysts forecast sales of Veltassa worth just $20 million this year and $76 million next year, according to Bloomberg, and AstraZeneca plc (ADR) (NYSE:AZN)’s drug for the treatment of hyperkalemia might be approved later this month. Relypsa Inc (NASDAQ:RLYP) is scheduled to release its financial results for the first quarter today after the closing bell and analysts project a net loss of $1.46 on revenue of $6.88 million. Relypsa Inc (NASDAQ:RLYP) saw the support of 21 funds from our database, which held 31.70% of the company’s outstanding stock at the end of 2015.

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