GM Bulls Out in Force, Oclaro Makes Offering, Plus 3 More Trending Stocks

After seeing its stock rally by more than 161% year-to-date, Oclaro, Inc. (NASDAQ:OCLR)‘s management is taking advantage of some of the price run-up by offering 13 million newly-issued shares in a secondary offering. In addition, Oclaro expects to grant underwriters a 30-day option to buy up to an additional 1.95 million shares. The final terms and pricing of the offering were not disclosed during the initial press release. Oclaro intends to use the money raised for general corporate purposes including for working capital, capex, and acquisitions. 29 funds that we track had a long position in Oclaro, Inc. (NASDAQ:OCLR) as of the most recent 13F reporting period, down by four funds from the end of the previous quarter.

Count Barron’s and Morgan Stanley as bulls of General Motors Company (NYSE:GM). According to a recently published article by Barron’s, writer Teresa Rivas believes the stock of the car company, which has an annual dividend yield of 4.8%, “is priced to buy.” Not only does the vehicle manufacturer trade for just 5.5-times forward earnings estimates, but GM’s “earnings and free cash flow performance could have materially greater duration than is currently discounted by the market” according to Morgan Stanley analyst Adam Jonas. Jonas understandably has an ‘Overweight’ rating and $37 price target on the stock. According to our 13F research, David Einhorn’s Greenlight Capital is a big fan of General Motors Company (NYSE:GM), owning a stake of 17.21 million GM shares as of June 30.

Disclosure: None