Here’s Why Traders are Talking about These Five Stocks

The market is mixed on Thursday with Dow Jones and S&P 500 slightly in red, while NASDAQ has inched up since the opening bell as companies continue to turn in their financial reports.

In this way, shares of Bank of New York Mellon Corp (NYSE:BK), Adeptus Health Inc (NYSE:ADPT), Nucor Corporation (NYSE:NUE), Domino’s Pizza, Inc. (NYSE:DPZ), and Quest Diagnostics Inc (NYSE:DGX) are trending today after reporting their financial results for the last quarter. In this earnings-heavy edition of market trenders, let’s take a closer look at each stock and use SEC filings to see how the world’s greatest investors are positioned among them.

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Mellon Results Mixed

Bank of New York Mellon Corp (NYSE:BK) shares are 2.90% in the red today after the bank reported earnings of $0.76 per share on revenue of $3.77 billion. Although Bank of New York Mellon’s earnings results beat profit estimates by $0.01 per share, the bank’s top-line missed the expectations by $20 million. Assets under custody and/or administration increased by 4% on the year to $29.5 trillion, while AUM dropped by 2% to $1.66 trillion. Both fee and other revenue and net interest revenue also slid by 2% year-over-year. Book value per common share rose to $33.72 from $32.28 in the same quarter of the prior year. Billionaire Warren Buffett’s Berkshire Hathaway owned 20.8 million shares of Bank of New York Mellon Corp (NYSE:BK) at the end of March.

Adeptus Misses the Mark

Adeptus Health Inc (NYSE:ADPT) reported lower-than-expected earnings for its second quarter and, not surprisingly, the healthcare company’s shares are down by more than 8% so far today. For the three months ended June 30, Adeptus reported earnings of $0.48 per share, versus estimates of $0.51 per share. Revenue beat estimates by $6.25 million, coming in at $100.17 million. Management sees 2016 adjusted EPS coming in at $2.55 to $2.65 on net revenues of $640 million to $670 million. The number of funds from our database with holdings in Adeptus Health Inc (NYSE:ADPT) went up by three quarter-over-quarter to 25 at the end of March.

On the next page, we examine the earnings results of Nucor Corporation, Domino’s Pizza, and Quest Diagnostics.
Nucor Reports Earnings

Nucor Corporation (NYSE:NUE)’s stock has lost over 2% today after the company reported second quarter earnings of $0.73 per share on sales of $4.25 billion, beating the profit estimate by $0.03 per share but missing the revenue consensus by $250 million. Average sales price per ton increased by 9% sequentially and fell by 9% year-over-year. Total tons shipped gained 5% sequentially and jumped by 7% year-over-year. Overall operating rate at the company’s steel mills rose to 83% from 73% as demand increased markedly. Among the investors we track, 29 funds owned $524.19 million worth of Nucor Corporation (NYSE:NUE)’s stock, which accounted for 3.50% of the float on March 31, versus 20 funds and $301.41 million, respectively, a quarter earlier.

Domino’s Surges Around 6% on Results

Domino’s Pizza, Inc. (NYSE:DPZ) earned $0.98 per share on sales of $547.34 million in the second quarter, beating the average analyst estimates by $0.04 per share and $13.9 million, respectively. Overall revenue appreciated by 12% year-over-year, aided by a 9.7% increase in domestic same-store sales and a 7.1% rise in international same-store sales. Total store count went up by more than 1,000 year-over-year to 12,936. Meanwhile, the company’s operating margin inched up 10 basis points to 19%. Jim Simons’ Renaissance Technologies was one of the 32 funds tracked by Insider Monkey that held shares of Domino’s Pizza, Inc. (NYSE:DPZ) at the end of March.

Quest Diagnostics Rises on Earnings

Quest Diagnostics Inc (NYSE:DGX) is 1.5% in the green after the company reported EPS of $1.34 on revenue of $1.91 billion for the second quarter, beating the bottom-line estimate by $0.02 per share and meeting the top-line expectations. Management sees full year 2016 revenue between $7.47 billion and $7.54 billion and full year 2016 adjusted diluted EPS, excluding amortization expenses, between $5.02 and $5.17. Shares of the company are up by over 19% year-to-date. Cliff Asness’ AQR Capital Management raised its stake in Quest Diagnostics Inc (NYSE:DGX) by 5% to over 1.6 million shares during the first quarter.

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