Why Traders Are Buzzing About These Five Stocks on Friday

Page 2 of 2

FedEx Settles Lawsuit

FedEx Corporation (NYSE:FDX) is in the spotlight today after it agreed to settle a lawsuit concerning the labor status of some of its former workers. According to the settlement, the delivery giant will pay $240 million to a combined 12,000 drivers in 20 states for classifying them as independent contractors when they were theoretically more than that. FedEx saved substantial amounts of money by avoiding paying pensions, health care costs, taxes, and other expenses due to the classification. Among the funds we track, 45 funds owned $3.44 billion of FedEx Corporation (NYSE:FDX) and accounted for 7.90% of the float on March 31, versus 47 funds and $3.31 billion respectively on December 31.

Follow Fedex Corp (NYSE:FDX)

Lifelock Gets a Major Investor

Lifelock Inc (NYSE:LOCK) shares are trending today after activist Paul Singer‘s Elliott Management took an 8.8% stake in the company. According to the 13D filing with the Securities and Exchange Commission, the elite fund believes the stock is undervalued and the fund has initiated talks with management and the board over opportunities to increase shareholder value. A total of 16 funds tracked by us had a bullish position in Lifelock Inc (NYSE:LOCK) at the end of March, down by 15 funds from the previous quarter.

Follow Lifelock Inc. (NYSE:LOCK)

Interest Rates Lower for Longer  

E*TRADE Financial Corp (NASDAQ:ETFC) is trending today after St. Louis Fed President Jim Bullard said that few rate hikes are needed given the new normal of the economy. For the next two years, Bullard sees real GDP growth of 2% a year, unemployment at 4.7%, and relatively tame inflation. Those numbers indicate that the Federal Funds rate doesn’t need to be higher than 0.63% over that time period. Bullard’s comments mean that E*TRADE bulls may have to wait a bit longer for their thesis that rising rates will increase profits at the broker to play out. The number of funds tracked by us with holdings in E*TRADE Financial Corp (NASDAQ:ETFC) fell by nine quarter-over-quarter to 39 at the end of March.

Follow E Trade Financial Corp (NASDAQ:ETFC)

Disclosure: none

Page 2 of 2