U.S stocks are enjoying a breather today, after having already fallen by roughly 6% so far this year. The advance in oil prices is the highlight of the day, with oil giants helping the Dow go up by 200 points by mid-morning. In this article we’ll take a look at some of those leading gainers: Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM), BP plc (ADR) (NYSE:BP), Infosys Ltd ADR (NYSE:INFY) and Alon Blue Square Israel Ltd (NYSE:BSI). We’ll also check in on how the world’s top investors have been trading these stocks recently.
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The management of Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) has offered an update on their status and investors like what was said, pushing the stock higher this morning. Although the company expects a slow first quarter of 2016, they expect business to pick up and believe the current year will be a better one than 2015 on aggregate. Taiwan Semiconductor’s founder and chairman Morris Chang said that he would not stick to his previous pledge of 10% growth, due to the troubles in the Chinese economy, but he believes sales and profit growth will be somewhere between 5% and 10% for the year. The stock ended 2015 more or less where it started it – around the $22.50 level – and has fallen by more than 6% so far this year.
Hedge fund sentiment towards Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) slightly improved during the third quarter, as the number of long positions increased to 32, from 27 at the end of June. Billionaire Ken Fisher was bullish on this stock, having increased his investment by 4% during the quarter. In its latest 13F filing, Fisher Asset Management reported ownership of 27.5 million shares of the semiconductor company.
Shares of BP plc (ADR) (NYSE:BP) are also on the rise this morning, following news of the company’s plans to reduce its global workforce in response to falling oil prices. The stock of the British giant is also being helped by a modest increase in oil prices today, currently up by a little over 1%. The company said it plans to cut its workforce by approximately 20% over the next two years, with the majority of cuts expected in 2016. The falling oil prices have negatively affected the stock, pushing it down by more than 20% in 2015. Today, however, shares have surged by nearly 5% in the first hours of trading.
Israel Englander thought it wise to buy BP plc (ADR) (NYSE:BP) during the third quarter, having initiated a position in the stock. His fund Millennium Management held 3.83 million shares according to its latest quarterly filing. During the third quarter, the number of top funds invested in British Petroleum increased to 35 from 33 a quarter before, however they owned just 1% of the company’s outstanding shares.
The next page has the latest activity concerning Infosys and Alon Blue Square Israel.