What is Causing These 5 Stocks to Move Sharply on Friday?

While the indexes have had a moderately volatile day so far, shares of Clovis Oncology Inc (NASDAQ:CLVS), China Hgs Real Estate Inc (NASDAQ:HGSH), Amira Nature Foods Ltd (NYSE:ANFI), Gerdau SA (ADR) (NYSE:GGB), and General Cable Corporation (NYSE:BGC) have shown significantly more movement. Let’s uncover why investors are buying and selling these stocks in big ways and see what hedge funds think of each of them.

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Clovis Oncology Inc (NASDAQ:CLVS) is over 6% in the red today as some investors sell ahead of the FDA’s Oncologic Drugs Advisory Committee’s meeting on April 12 to analyze the company’s NDA for rociletinib for the treatment of patients with epidermal growth factor receptor-positive non-small cell lung cancer. Based on the contents of the FDA’s briefing document, it is uncertain whether the committee will give its thumbs up. 24 funds tracked by Insider Monkey held more than half of Clovis Oncology Inc (NASDAQ:CLVS)’s float at the end of 2015. Among them was Zach Schreiber‘s Point State Capital, which owned 3.5 million shares.

Micro-cap China Hgs Real Estate Inc (NASDAQ:HGSH) is a day-trader favorite today, as its stock has surged by more than 40% on seemingly no company-specific news. China Hgs Real Estate Inc (NASDAQ:HGSH), through its subsidiaries and variable interest entity (VIE), engages in real estate development, primarily in the construction and sale of residential apartments, car parks and commercial properties. The broader Chinese real estate market received some good news on April 1 after the South China Morning Post reported that the prices of new homes in China’s 100 biggest cities jumped by 7.41% year-over-year. As with all micro-cap stocks, investors should do their due-diligence before considering an investment.

On the next page we see what'[s been happening with Amira Nature Foods, Gerdau SA, and General Cable Corporation.
Amira Nature Foods Ltd (NYSE:ANFI), a leading provider of packaged specialty rice, is 25% higher today after the company announced that it expects to release interim financial results in April and full-year financial results in July. Some investors have questioned Amira’s numbers in the past, leading to the company switching accounting firms in late 2015. From that point of view, some traders evidently think that releasing the company’s financial results is a step in the right direction. Five funds that we monitor owned a modest 0.7% of Amira Nature Foods Ltd (NYSE:ANFI)’s shares at the end of 2015.

Like many other Brazilian stocks, Gerdau SA (ADR) (NYSE:GGB) is well in the green today after the Ibovespa surged by the greatest amount that it has in the past 15 trading days. Investors have become more optimistic on Brazil due to rising crude prices and speculation that President Dilma Rousseff is closer to becoming impeached. If the Brazilian political uncertainty is removed, the Brazilian economy could improve and potentially help Gerdau SA (ADR) (NYSE:GGB). Jim Simons‘ Renaissance Technologies was among ten elite funds that held 2.6% of the company’s float according to our analysis of filings submitted during the latest 13F reporting period.

Shares of General Cable Corporation (NYSE:BGC), a leader in the development, manufacture, design, marketing and distribution of aluminum, copper, and fiber optic wire and cable products for the energy, specialty, and communications markets, are 9% higher on technical buying. The stock recently closed above a key technical moving average and has shown signs of trending higher in the intermediate term. Hedge fund activity in General Cable Corporation (NYSE:BGC) became more bullish in the fourth quarter, with the number of elite funds in our system long the stock rising by two to 18 as of the end of December. Those 18 funds held 11.5% of the company’s outstanding shares.

Disclosure: None