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Here’s What’s Pushing These 5 Stocks Higher Today

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Oil prices have rallied today, sending U.S stocks up as well. The latest round of quarterly earnings is also pushing the stock market higher, with ECB president Mario Draghi’s comments about possible further stimulus having also spurred the confidence of investors. In this article we’ll talk about some of today’s top gainers: FireEye Inc (NASDAQ:FEYE), Cypress Semiconductor Corporation (NASDAQ:CY), Southwestern Energy Company (NYSE:SWN), Kinder Morgan Inc (NYSE:KMI), and TrovaGene Inc (NASDAQ:TROV).

At Insider Monkey, we track around 730 hedge funds and institutional investors. Through extensive backtests, we have determined that imitating some of the stocks that these investors are collectively bullish on can help retail investors generate double digits of alpha per year. The key is to focus on the small-cap picks of these funds, which are usually less followed by the broader market and allow for larger price inefficiencies (see more details about our small-cap strategy).

FireEye Inc (NASDAQ:FEYE) is up by more than 3% this morning after the company completed the acquisition of iSight Partners Inc for $200 million. With the stock down by approximately 75% in the last seven months, FireEye has been looking to widen the array of services that it offers. After having acquired Mandiant Corp in 2014, a company that investigates cyber attacks after they happen, FireEye has now bought a company that gathers intelligence to prevent attacks.

“This acquisition extends FireEye’s intelligence lead with an offering no one else in the industry can match. Forward-looking security organizations — from governments to the private sector — know threat intelligence is the key to establishing a robust security posture tuned for the threats targeting each organization,” said David DeWalt, CEO of FireEye.

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Hedge fund sentiment towards FireEye Inc (NASDAQ:FEYE) slightly improved during the third quarter, with the number of long hedge fund positions increasing by two to 37 by the end of September. Karthik Sarma is bullish on this stock, having boosted his investment by 36% over the quarter. His fund, SRS Investment Management, reported ownership of 4.47 million shares in its latest 13F filing.

Shares of Cypress Semiconductor Corporation (NASDAQ:CY) are trading higher by nearly 7% on the back of positive business updates. The company has reiterated its outlook for the fourth quarter, expecting revenue of $430 million-to-$460 million and a profit in the range of $0.11 to $0.15 per share. Cypress will release its latest earnings report on January 28, before the market opens. The company has also announced that its board of directors will be buying up to $450 million worth of its stock.

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Roughly 23% of Cypress Semiconductor Corporation (NASDAQ:CY)’s common stock was held by 32 elite funds in our system at the end of the third quarter, down from 35 a quarter before. George Soros‘ Soros Fund Management is the among the top holders of the stock, having reported ownership of 19.8 million shares, up by 25% over the quarter.

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