These Four Stocks Are Hot This Morning; Here’s Why

On another note, CBS Corporation (NYSE:CBS) is trending after the company reported third quarter EPS of $0.88 on revenues of $3.26 billion. Although CBS’s cable network revenue fell by 15.7% year-over-year to $526 million, overall revenue declined by just 3% as strength from other divisions offset cable’s weakness. CBS Corporation is adjusting to the streaming age, having announced that it will reboot the iconic Star Trek franchise and eventually provide it exclusively on CBS All Access, the network’s $5.99/month online offering. In addition to the reboot, CBS Corporation’s top and bottom lines will likely remain healthy for the coming quarters given that presidential campaigns are estimated to cost $1 billion or more for each party. 71 funds owned CBS Corporation (NYSE:CBS) shares valued at $4.33 billion, accounting for 15.90% of the float on June 30, with Jonathon Jacobson‘s Highfields Capital Management among the shareholders long the company, with a stake of 9.6 million shares. CBS shares are up by 3.57% this morning.

Last but not least, Zendesk Inc (NYSE:ZEN) shares are substantially higher early today, up by over 10%, after the tech company reported a loss of $0.05 per share on revenues of $55.66 million, up by 64.1% year-over-year, which nonetheless beat estimates by $0.04 per share and $3.42 million, respectively. Guidance was strong, with management expecting fourth quarter revenue of $59 million-to-$61 million, a tad higher than the estimates of $57.5 million. Analysts are bullish, as they have a consensus price target of $28.63, suggesting shares have 35.92% upside. 23 funds that we follow owned $225.04 million in Zendesk Inc (NYSE:ZEN) holdings on June 30, up from 21 funds and $193.62 million respectively on March 31. Josh Resnick‘s Jericho Capital Asset Management owned 3.43 million Zendesk shares at the end of June.

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