Here Are 4 Surging Stocks To Keep An Eye On Today

Its latest financial report has provided a positive boost for shares of Infosys Ltd ADR (NYSE:INFY), which are up by roughly 7% this morning. The Indian outsourcing company has raised its full-year guidance after reporting better-than-expected results for its third quarter of fiscal year 2016. Revenue for the three months ended December 31, grew by 15.3% to 159.02 billion rupees ($2.36 billion), while profit stood at 34.65 billion rupees ($517 million), beating estimates of 33.5 billion rupees. Infosys said that it expects full fiscal year 2016 revenue to grow by 8.9%-to-9.3% in dollar terms, up from previous estimates of 6.4%-to-8.4%.

Hedge funds are not particularly interested in Infosys Ltd ADR (NYSE:INFY), with only 19 of the funds we track having reported a long position in the stock as of the end of September. Cliff Asness is among those optimistic about the prospects of the company, having boosted his stake by 12% over the third quarter. His fund AQR Capital Management held 13.2 million shares of Infosys at the end of September.

Shares of Alon Blue Square Israel Ltd (NYSE:BSI) have skyrocketed on reports that the company has been handed a lifeline to sort out a potential takeover deal. The parent company of the Mega supermarket chain in Israel has been in poor financial form of late, raising fears of bankruptcy. The company recently announced an agreement with several creditors to postpone payments on some of its bonds. Shares are currently trading up by more than 75% today.

Only one of the funds tracked by Insider Monkey was holding a position in Alon Blue Square Israel Ltd (NYSE:BSI) at the end of the third quarter, that being Jim Simons‘ quant fund Renaissance Technologies. The fund disclosed ownership of 3,490 shares as of the end of September.

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