Here is Why These Four Stocks are Deep in Green Territory Today

Amid a reported increase in jobless claims, the U.S stock market has inched down after initially posting gains following the opening bell. However, we have identified four companies whose shares are growing today on the back of earnings reports and other developments. Therefore, in this article we are going to take a look at them; them being Pandora Media Inc (NYSE:P), Kate Spade & Co (NYSE:KATE), Ralph Lauren Corp (NYSE:RL), and Gogo Inc (NASDAQ:GOGO).

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Aside from looking at the news behind the moves of these four stocks, we will also take a look at how the investors that we track have been trading them. We believe that the focus on the long-term horizon that hedge funds have makes them the perfect investors to emulate. Our research showed that imitating the small-cap picks that hedge funds are collectively bullish on can generate double-digit gains each year. The strategy, that we share in our quarterly newsletters, involves imitating the 15 most popular small-caps among over 700 hedge funds and it has returned 102% since August 2012, outperforming the S&P 500 ETF (SPY) by around 53 percentage points (see more details here).

Pandora Media Inc (NYSE:P)‘s stock has advanced by over 6% today after the company announced the signing of a special licensing agreement with Sony/ATV Music Publishing that will be beneficial for Pandora Media Inc (NYSE:P) and will modernize “compensation for Sony/ATV and its songwriters in the US”. The terms of the deal have not been disclosed. Pandora’s shares tanked on October 22 on the back of its third quarter financial results and weak guidance for the current year (see more details) and today’s growth has slightly offset the year-to-date loss of the company’s stock. During the third quarter, the number of funds bullish on Pandora Media Inc (NYSE:P) among those we track declined by seven to 30 and they held in aggregate 21% of the company’s float. Moreover, Ricky Sandler’s Eminence Capital L.P. recently reported holding 12.01 million shares of Pandora, up from 10.07 million shares held previously.

Kate Spade & Co (NYSE:KATE) has appreciated by over 10% on the back of third quarter results that included adjusted earnings per share of $0.06 and revenue of $227.3 million, compared to estimates of $0.04 and $280 million, respectively. Both its top and bottom lines increased in year-over-year terms. Despite today’s gains, the shares of Kate Spade & Co (NYSE:KATE) are still down by 32% since the beginning of the year. At the end of June, a total of 27 funds from our database held 22.70% of Kate Spade’s outstanding stock. In the current round of 13F filings, billionaire Ken Fisher’s Fisher Asset Management reported holding 2.23 million shares of Kate Spade & Co (NYSE:KATE) as of the end of September.

On the next page, we will discuss the developments behind the growth of Ralph Lauren Corp (NYSE:RL) and Gogo Inc (NASDAQ:GOGO).