How SeaWorld, Stratasys, Teva, and More Performed During the June Quarter

Caught between a rock and a hard place due to the Brexit decision in June, the Bank of England announced today that it will cut interest rates and expand its stimulus measures to bolster the British economy. Despite the news, all three indexes are moderately lower as traders take profits off the table.

In this article, we’ll take a closer look at five stocks that are trending today due to their latest earnings releases: SeaWorld Entertainment Inc (NYSE:SEAS), Stratasys, Ltd. (NASDAQ:SSYS), Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA), InterOil Corporation (USA) (NYSE:IOC), and Gogo Inc (NASDAQ:GOGO). In addition to discussing the results, we’ll check out SEC filings to see how the world’s leading hedge funds are positioned in these stocks.

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SeaWorld Sinking Due to Weak Guidance

SeaWorld Entertainment Inc (NYSE:SEAS) earned $0.21 per share on revenue of $371.14 million in the second quarter, meeting profit estimates but missing the top-line consensus target by $3.69 million. Sales fell by 5.2% year-over-year as attendance fell due to a tropical storm and softness in the Orlando market. Due to lower demand, management now sees full year adjusted EBITDA coming in between $310 million and $340 million. Investors didn’t like the lower guidance, and SeaWorld Entertainment Inc (NYSE:SEAS) shares are down by 14% in morning trading because of it. Of the 766 actively-reporting funds that we track in Insider Monkey’s database, 20 were long SeaWorld Entertainment Inc (NYSE:SEAS) at the end of the first quarter.

Stratasys Reports Mixed Results

Stratasys, Ltd. (NASDAQ:SSYS) is off by around 1.5% today after reporting weak top-line numbers. Although its earnings beat estimates by $0.06 per share with EPS of $0.12, the company’s top-line missed by $3.72 million and fell 5.6% year-over-year to come in at $172.07 million. Non-GAAP EBITDA was $19.5 million while cash from operations was $6.9 million. Management reiterated its revenue guidance of $700 million-to-$730 million and adjusted net income of $0.17-to-$0.43 per share for the fiscal year ending December 31, 2016. 18 funds in our system were long Stratasys, Ltd. (NASDAQ:SSYS) at the end of March, up by one from the end of the previous quarter.

On the next page we dig into the latest results out of Teva Pharmaceutical Industries, InterOil Corporation, and Gogo Inc.

Teva Delivers Solid Results

Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) bulls are having a good day after the generics giant beat both top- and bottom-line estimates with its second quarter results. For the three months ended June 30, Teva’s earnings clocked in at $1.25 per share, or $0.05 per share ahead of estimates, while the company’s revenue totaled $5.04 billion, up by 1.4% year-over-year and $170 million higher than expectations. Full-year guidance was strong also, as management expects adjusted EPS of $5.20-to-$5.40 on revenue of $22.0 billion-to-$22.5 billion. That gives Teva a price-to-2016-adjusted-EPS ratio of around 10.0. Andreas Halvorsen‘s Viking Global was a top shareholder of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) at the end of March, owning almost 33 million shares.

InterOil Reports Earnings

Although its earnings are a moot point given the company’s pending acquisition, InterOil Corporation (USA) (NYSE:IOC) is nevertheless in the spotlight after reporting a second quarter loss of $1.16 per share, missing estimates by a whooping $0.89 per share. Total equity attributable to shareholders of InterOil amounted to $741.65 million at the end of June. Ten funds that we track owned shares of InterOil Corporation (USA) (NYSE:IOC) at the end of March, down by three quarter-over-quarter.

Gogo’s Net Income Outpaces Estimates

Gogo Inc (NASDAQ:GOGO) shares have surged by almost 12% today after the company reported a second quarter loss of $0.31 per share, or $0.09 per share better than analysts’ consensus estimate. Revenue for the quarter was $147.54 million, up by 21.7% year-over-year and $6.08 million higher than the top-line consensus target. Management expects full year EBITDA of $55 million-to-$65 million on revenue of $575 million-to-$595 million. Those ranges firmly encapsulate analysts’ estimates of $59.7 million and $591 million, respectively. 16 funds in our database owned shares of Gogo Inc (NASDAQ:GOGO) as of March 31.

Disclosure: None