Actionable news
All posts from Actionable news
Actionable news in BLK: BLACKROCK Inc,

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...