Exelixis, Symantec, Weight Watchers International and More: Here’s Why These Stocks Are Moving

Universal Display Corporation (NASDAQ:OLED) is down 24% after the company reported an underwhelming third quarter. Although adjusted EPS was ahead of estimates ($0.72 versus $0.66), sales for the period dissapointed, coming in at $77.6 million versus the consensus of $91.41 million. Guidance could be another reason for the sell off. Management cut FY18 sales to $240-$250 million versus the previous $280-$310 million. Part of the reason for the weak quarter was a softer recovery in materials revenue due to weakness in smartphones. 22 elite funds we track were long around $201 million worth of Universal Display Corporation (NASDAQ:OLED) at the end of Q2.

Weight Watchers International Inc (NASDAQ:WTW) is off 28% after the company missed sales estimates for its latest earnings report. Although WTW’s $1 EPS was better than the consensus by a penny, its sales of $365.8 million missed the average of $379.37 million. Although some investors think the revenue short fall is due to the company shifting to digital, which could be a long term positive, the change could cause some short-term disruptions. In terms of digital, the company’s digital subscribers rose 36.5% year over year, while its overall subscriber count rose 24.9% year over year. 28 top funds owned Weight Watchers International Inc (NASDAQ:WTW) at the end of June.

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