U.S stock futures edged higher on Wednesday as oil prices continue to rise and the chances of an interest rate hike in the very near-term has faded. Among the stocks that are gaining heavily today are Bridgeline Digital Inc (NASDAQ:BLIN), Cemex SAB de CV (ADR) (NYSE:CX), Itau Unibanco Holding SA (ADR) (NYSE:ITUB), Seadrill Ltd (NYSE:SDRL), and Helios and Matheson Analytics Inc (NASDAQ:HMNY). Let’s see why these stocks are gaining ground today and check out what top investors think about them longer-term.
At Insider Monkey, we track around 765 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 the details here).
Bridgeline Digital Launches iApps Pro
Bridgeline Digital Inc (NASDAQ:BLIN)’s stock has skyrocketed more than 100% so far today after the company announced the launch of its iAPPS Pro product line. iAPPS Pro is an SaaS-based Web Experience Management System for small to mid-scale enterprise companies. The software offers automated marketing features, web content management and ecommerce capabilities. Bridgeline Digital Inc (NASDAQ:BLIN) was held by just one fund in our database on March 31, that being Ken Griffin’s Citadel Advisors.
Cemex SAB de CV’s Subsidiary Offering Notes
Cemex SAB de CV (ADR) (NYSE:CX) is trading 4.5% in the green today after it announced that its subsidiary, CEMEX Finance LLC, is offering senior secured notes denominated in Euros. The company will use the proceeds from the transaction for debt repayments and general corporate purposes. Out of the 766 active hedge funds tracked by Insider Monkey, 18 of them were long Cemex SAB de CV (ADR) (NYSE:CX) as of the end of March. Eduardo Abush’s Waterfront Capital Partners owned just under 1.99 million shares of the company on March 31.
We will discuss why Itau Unibanco Holding, Seadrill Ltd, and Helios and Matheson Analytics are rising today on the next page.