Why Were These Five Stocks In The Red On Friday?

Schlumberger Limited. (NYSE:SLB) slumped by 5% on Friday after the company reported earnings of $0.78 per share for the previous quarter, beating estimates of $0.77, but with revenue of $8.47 billion coming in below the consensus of $8.55 billion. However, despite today’s depreciation, which extended the stock’s year-to-date decline to 15%, the company is relatively popular among the funds from our database, as 55 of them disclosed positions worth $2.16 billion in aggregate as of the end of June, up from 48 funds with stakes worth $1.79 billion a quarter earlier. However, these funds held only 2% of Schlumberger Limited. (NYSE:SLB)’s outstanding stock at the end of the second quarter, though the top three shareholders among them increased their stakes considerably. Ken Fisher‘s Fisher Asset Management, D. E. Shaw, and Ken Griffin’s Citadel Investment Group reported positions of 4.24 million shares, 4.17 million shares, and 3.46 million shares respectively, while the latter two raised their stakes by 244% and 352% respectively. Moreover, Steve Cohen’s Point72 Asset Management initiated a new stake of 1.07 million shares between April and June.

W W Grainger Inc (NYSE:GWW)‘s stock fell on the back of weaker-than-expected results, which included revenue of $2.53 billion, versus estimates of $2.56 billion. The company’s EPS of $2.92 per share declined from $3.30 a year earlier and was below forecasts of $3.06. The market was also disappointed by a lowered outlook provided by W W Grainger Inc (NYSE:GWW) for the full year, with sales growth between negative 0.5% and positive 0.5%, while EPS is expected in the range of $11.60-to-$11.80. Among hedge funds, W W Grainger was overlooked by many investors, as only 16 of those that we track held long positions equal to around 6% of the company at the end of June. David Blood and Al Gore’s Generation Investment Management reported the largest holding, containing around 1.46 million shares as of the end of June.

Finally, Kansas City Southern (NYSE:KSU)‘s stock lost over 9% in the intraday trading session on Friday after the company posted adjusted earnings of $1.21 per share before the market opened, slightly missing the consensus of $1.22, while its revenue of $631.9 million fell short of expectations of $646 million. Nevertheless, a total of 37 funds from our database were bullish on Kansas City Southern (NYSE:KSU) at the end of June, up by 15 on the quarter, and they held aggregate stakes equal to nearly 14% of the company. Most of the top shareholders in our database disclosed new stakes in the previous round of 13F filings, including Larry Robbins’ Glenview Capital, but the largest shareholder, Andreas Halvorsen‘s Viking Global, reported a stake 40% smaller over the quarter, which contained 4.80 million shares.

Disclosure: None