Here’s Why These Five Stocks Are Advancing on Monday

May Retail Machine Sales Help Caterpillar

Shares of Caterpillar Inc. (NYSE:CAT) have inched up by 1.1% on Monday, following the report of the company’s May retail machines sales. Management said that over the month, retail machines sales tumbled by 12% year-over-year, driven by a 27% decline in resource segment and an 8% slip in construction segment. While still not good, these figures imply a stable or a decelerating trend when compared to the previous month. Caterpillar Inc. (NYSE:CAT) saw the number of hedge funds in our database long its stock increase by more than 19% over the first quarter to 37. Among the largest hedge fund shareholders were Harris Associates, with 15.14 million shares, and the Bill & Melinda Gates Foundation Trust, managed by Michael Larson, which last disclosed ownership of 11.26 million shares, or almost $862 million in stock as of March 31.

Globalstar’s TLPS Could Get FCC Approval Soon

Another gainer on Monday trading is small-cap Globalstar, Inc. (NYSEMKT:GSAT), whose stock has appreciated by around 11% amid reports that oil giant Shell has selected Globalstar as the provider of satellite-based asset tracking for its onshore and offshore assets in the Netherlands. In addition, a recent Height Securities report has stated that the FCC will likely approve the company’s TLPS spectrum by June 30. For a small-cap stock, Globalstar, Inc. (NYSEMKT:GSAT) is pretty popular among the funds in our database, with 15 funds having amassed nearly 11% of its stock at the end of March. Among them, we could highlight Michael Johnston’s Steelhead Partners, which held 32.5 million shares and Jamie Zimmerman’s Litespeed Management, with 20.9 million shares, held as of the end of March.

Government Grant Salvages This Embattled Nano Cap

Finally, there’s nano-cap biotech Lpath, Inc. (NASDAQ:LPTN), which is up by 58% on Monday, after it was announced that the company received a government grant to develop its lead pain treatment, Lpathomab. Interestingly, it seems like the grant came at just the right time: last week, the company was compelled to enact a 1-for-14 reverse stock split in order to maintain a high-enough stock price to remain listed on NASDAQ. Only three funds in our database were long Lpath, Inc. (NASDAQ:LPTN) at the end of the first quarter, the largest stake being held by Hal Mintz’s Sabby Capital, with 1.1 million shares (79,062 shares split-adjusted).

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.