Here Is Why Investors Are Pushing These 4 Stocks Higher Today

FireEye Inc (NASDAQ:FEYE) has surged by as much as 10% today, spurred by recent news of a partnership with Parsons, a management services firm. FireEye engages in the development of cybersecurity solutions and Parsons has teamed up with them to work on increasing the security of critical infrastructure and IT services. Since the start of the year, FireEye’s stock has plunged, dropping by more than 15% through yesterday’s close.

Karthik Sarma, the manager of SRS Investment Management is betting heavily on FireEye Inc (NASDAQ:FEYE), having pledged nearly 5% of his portfolio’s funds to an investment in the company. According to its latest 13F filing, the fund held 4.47 million FireEye shares at the end of September, up by 36% over the quarter. FireEye experienced a slight boost in popularity over the quarter, as the number of hedge funds invested in the stock rose by two to 37 funds.

Investors are pleased with Magna International Inc. (USA) (NYSE:MGA)‘s outlook for 2016, as the company said that it expects sales to increase by nearly 16% this year. The Canadian manufacturer of auto parts anticipates full-year sales to range between $30.3 billion and $31.6 billion, up from their 2015 sales estimates of $26.3 billion-to-$27.2 billion. The company also said that it expects capital spending to vary between $1.8 billion and $2.0 billion in 2016. Shares rose by as much as 7.5% early this morning, as investors drove the stock higher on the positive guidance.

Magna International Inc. (USA) (NYSE:MGA) registered a decline in popularity among top funds during the third quarter, with the total number of funds reporting a long position in the stock dropping to 43, a slide from 52 funds at the end of the second quarter. Ken Griffin is still bullish on the stock, having boosted his stake in the company by 59% during the third quarter. As of the end of September, Citadel Investment Group reported holding 4.92 million shares, then valued at $236 million.

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