US stocks extended losses on Monday as the Brexit hangover continues to damage the market sentiment.
Meanwhile, some important stocks are in the spotlight today, including Dicks Sporting Goods Inc (NYSE:DKS), GameStop Corp. (NYSE:GME), TransCanada Corporation (USA) (NYSE:TRP), Alphabet Inc (NASDAQ:GOOGL) and Facebook Inc (NASDAQ:FB). Let’s take a closer look at the
Through extensive research, we determined that imitating some of the picks of hedge funds and other institutional investors can help generate market-beating returns over the long run. The key is to focus on the small-cap picks of these investors, since they are usually less followed by the broader market and are less price-efficient. Our backtests that covered the period between 1999 and 2012, showed that following the 15 most popular small-caps among hedge funds can help a retail investor beat the market by an average of 95 basis points per month (see more details here).
Dicks Sporting Goods Bids to Acquire 17 Sports Authority Stores
Investors are keenly watching Dicks Sporting Goods Inc (NYSE:DKS) today after Reuters reported that the company had submitted a bid to acquire 17 stores of Sports Authority, the bankrupt Colorado-based sports retailer. The source added that the bids were due Thursday night, and an auction to sell the remaining assets of Sports Authority will be held next week. A bankruptcy court judge will approve the final sale of the assets. Shares of Dicks Sporting Goods have shrunk by more than 3% so far today. As of the end of the first quarter, Glenn J. Krevlin’s Glenhill Advisors owns around 3.37 million shares of Dicks Sporting Goods Inc (NYSE:DKS).
Telsey Gives Outperform Rating to GameStop
GameStop Corp. (NYSE:GME)’s stock has inched up today after the company was upgraded by Telsey Advisory Group to “Outperform” from “Market Perform.”. The firm has a price target of $35.00 for the Texas-based video game retailer. Among the funds we track, Cliff Asness’ AQR Capital Management has around 2.1 million shares of GameStop Corp. (NYSE:GME) as of the end of the first quarter.
Move over to the next page where we discuss TransCanada, Facebook and Alphabet in detail.