Major indices are trading in the red territory amid a string of disappointing news news. Mainly the markets are influenced by companies reporting their financial results.
Among these companies are ClubCorp Holdings Inc. (NYSE:MYCC), Delta Air Lines Inc. (NYSE:DAL), Progressive Corp (NYSE:PGR), First Republic Bank (NYSE:FRC), and Marriott Vacations Worldwide Corp (NYSE:VAC). Let’s take a closer look at the recently-reported financial performance of these companies and see what the smart money investors from our database think about them.
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ClubCorp Holdings Inc. (NYSE:MYCC) stock has lost around 8% as the company missed both top- and bottom-line estimates. It reported fiscal third-quarter revenue of $259.3 million, up by 1.6% from the corresponding quarter of the previous year, but lower than the consensus estimate of $265.9 million. ClubCorp’sEPS of $0.02 was significantly lower than the expected $0.08, while net income of $1.2 million was flat year-over-year. In addition, the company also lowered its full fiscal 2016 revenue outlook $1.08-$1.09 billion. Among the funds we track, 18 funds held $107 million worth of ClubCorp Holdings’s stock at the end of June, compared to 20 investors that owned $127 million worth of shares a quarter earlier.
Follow Clubcorp Holdings Inc. (NYSE:MYCC)
Follow Clubcorp Holdings Inc. (NYSE:MYCC)
Delta Air Lines Inc. (NYSE:DAL) stock opened lower but has rebounded after the company reported a 4% decline its its profits to $1.3 billion for the third quarter. Its adjusted EPS stood at $1.70, surpassing the consensus estimate of $1.64 per share, while revenue of $10.48 billion was lower than analyst expectations of $10.55 billion. The airline operator expects its passenger unit revenue to decline by 3% to 5% on a year-over-year basis in the fourth quarter. The number of funds from our hedge fund database long Delta Air Lines declined by three to 94 during the second quarter, while the total value of their holdings slid to $4.65 billion from $6.93 billion and represented 16.60% of its outstanding stock at the end of June.
Follow Delta Air Lines Inc. (NYSE:DAL)
Follow Delta Air Lines Inc. (NYSE:DAL)
We will continue the discussion of the financial results reported by Progressive Corp, First Republic Bank, and Marriott Vacations Worldwide on the next page.
