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

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