Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Market Defying Stocks: Why Axiall, Connecture, and 3 Other Stocks Are Rising on a Red Day

Page 1 of 2

It’s been a volatile day on Wall Street as the markets initially sold off sharply on fears of the consequences of a potential Brexit. The markets have since recovered some of those losses, as long-term investors buy in anticipation of robust future earnings growth. Among the stocks rising in today’s sea of red are Axiall Corp (NYSE:AXLL), Connecture Inc (NASDAQ:CNXR), Global Blood Therapeutics Inc (NASDAQ:GBT), NovaGold Resources Inc. (USA) (NYSEMKT:NG), and Barrick Gold Corporation (USA) (NYSE:ABX). Let’s find out how elite funds are positioned in each stock and see why traders are buying them today.

Our research determined that following the small-cap stocks that hedge funds are collectively bullish on can help a smaller investor to beat the S&P 500 by around 95 basis points per month (see the details here).

market, stock, money, index, graph, credit, globe, advisor, economics, ticker, business, income, arrow, success, diagram, wealth, data, analysis, report, monitoring,

Horoscope/Shutterstock.com

Buyout At Axiall 

Axiall Corp (NYSE:AXLL) shares are 25% in the green after Westlake Chemical Corporation (NYSE:WLK) entered into a definitive agreement to buy all of the outstanding shares of Axiall for $33 in cash per share, representing a total enterprise value of around $3.8 billion. The agreement has been approved by both companies’ board of directors and is expected to close by the end of 2016. Westlake management believes the combination will yield annual cost synergies of $100 million and be accretive in the first year after completion of the deal. The number of elite funds in our database holding shares of Axiall Corp (NYSE:AXLL) jumped to 36 from 17 quarter-over-quarter as of the most recent 13F reporting period.

Follow Axiall Corp (NYSE:AXLL)
Trade (NYSE:AXLL) Now!

Connecture Spikes on Filing

Connecture Inc (NASDAQ:CNXR) is 28% higher after the company filed a Form 8-K in which the company reported that it and its subsidiary have entered into an amended credit agreement with Wells Fargo Bank. Under the terms of the amended agreement, the loan maturity date is extended to June 8, 2021 from January 18, 2018 and term loan funding is increased to $35 million from $20 million, among other changes. On June 7, Connecture Inc (NASDAQ:CNXR) also completed the acquisition of ConnectedHealth LLC for $5 million. 7 savvy funds owned shares of Connecture at the end of the first quarter out of the 766 active funds that Insider Monkey tracks.

Follow Connecture Inc (NASDAQ:CNXR)
Trade (NASDAQ:CNXR) Now!

On the next page we examine why shares of Global Blood Therapeutics, NovaGold Resources, and Barrick Gold are gaining ground today.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!