Depomed Inc (DEPO), Oracle Corporation (ORCL) & More: Why These Stocks Are Making Headlines

Oracle Corporation (NYSE:ORCL) shares are in the red after the software giant reported fiscal first quarter earnings of $0.55 per share on revenue of $8.6 billion, missing the consensus estimates by $0.03 and $100 million, respectively. Revenue inched up by 1.8% year-over-year, led by cloud SaaS and PaaS sales growth of 77% to $798 million. Short-term deferred revenues rose by 4% year-over-year to $9.5 billion. The company sees adjusted earnings of $0.59 to $0.62 for its fiscal second quarter, versus the average analyst estimate of $0.65. Natixis Global Asset Management‘s Harris Associates trimmed its stake in Oracle Corporation (NYSE:ORCL) by 6% to just over 45 million shares during the second quarter.

Novavax, Inc. (NASDAQ:NVAX)’s stock has slid by over 86% on the back of the company reporting disappointing topline data from two clinical trails testing the RSV F-protein recombinant nanoparticle vaccine candidate in older adults. While the topline data from the company’s Phase 2 rollover trial suggested improved vaccine efficacy from a second year of dosing, the topline data from the company’s more important Resolve Phase 3 trial did not meet the efficacy objectives. The failure to meet the efficacy objectives in the Phase 3 trial was enough to send some investors heading for the exits. Some of the smart money funds dodged a bullet in the second quarter. According to our data, 16 funds that Insider Monkey tracks owned shares of Novavax, Inc. (NASDAQ:NVAX) at the end of the second quarter, down by two funds from the previous quarter. Meanwhile almost a quarter of the float is short, meaning that some hedge funds likely foresaw this outcome.

Traders are talking about Fiat Chrysler Automobiles NV (NYSE:FCAU) today after the company said it is recalling around 1.9 million vehicles for potential seat belt and airbag problems that may be related to accidents that caused three fatalities and five injuries. Some of the vehicles recalled include the 2010-2014 Dodge Avenger midsize, and the 2010 Chrysler Sebring. The number of funds from our database with holdings in Fiat Chrysler Automobiles NV (NYSE:FCAU) fell by one quarter-over-quarter to 27 at the end of June.

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