Why These Trending Stocks Are Shaking Up The Markets Today

Halliburton Company (NYSE:HAL) is down by 2.3% after reporting mixed third quarter earnings. The oil services giant earned $0.31 on revenues of $5.58 billion, beating earnings estimates by $0.04 per share but missing revenue estimates by $60 million. Shares are down by 4% year-to-date as low energy prices weigh on oil services demand. Despite the weak year-to-date performance, we feel Halliburton is a good long-term holding, given its leading position in the services sector and the expected synergies from Halliburton’s future closing of the Baker Hughes Incorporated (NYSE:BHI)’s acquisition. Oil prices will eventually normalize and demand for Halliburton’s expertise will increase. Savvy investors can buy Halliburton at a discount by buying Baker Hughes instead (if the deal closes successfully).

According to our data, hedge funds were bullish on Halliburton Company (NYSE:HAL) in the second quarter. A total of 69 funds reported stakes worth $4.21 billion (representing 11.50% of the float) in the latest round of 13F filings, up from 60 funds and $2.99 billion respectively a quarter earlier.

Shares of Campus Crest Communities Inc (NYSE:CCG) are up by 18.3% after the company agreed to sell itself to affiliates of Harrison Street Real Estate Capital, LLC for ‘$6.90 per share in cash (the “Cash Consideration”), plus a pro-rata portion of the net proceeds from the Montreal Sale (the “Contingent Consideration”), currently estimated to be $0.13 per share based on current exchange rates’. The board of Campus Crest has already agreed to the transaction. Hedge funds are big beneficiaries of today’s move, as the funds we track owned $90.02 million of the company’s shares, 25.1% of its common shares, at the end of the second quarter.

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