Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Here’s Why These Five Stocks Are Trending on Friday

The S&P 500 has lost around 0.20% so far on Friday. With the majority of earnings reports released, investors have breathed a sign of relief that earnings have not deteriorated despite the weak global macroeconomic backdrop. Among the stocks trending today are Apple Inc. (NASDAQ:AAPL), Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR), InterOil Corporation (USA) (NYSE:IOC), Concordia Healthcare Corp (NASDAQ:CXRX), and TerraForm Global Inc (NASDAQ:GLBL). Let’s take a closer look at the developments that put these stocks in the spotlight and see how the world’s greatest investors are positioned in each stock.

Hedge fund sentiment is an important metric for assessing the long-term profitability. At Insider Monkey, we track over 780 hedge funds and other investors, whose quarterly 13F filings we analyze and determine their collective sentiment towards several thousand stocks. However, our research has shown that the best strategy is to follow hedge funds into their small-cap picks. This approach can allow monthly returns of nearly 95 basis points above the market, as we determined through extensive backtests covering the period between 1999 and 2012 (see the details here).

Apple Makes a Big Investment

Although Apple Inc. (NASDAQ:AAPL) just hit a 52-week low yesterday, the company has plenty of cash, and now apparently a new found willingness to deploy some of the cash. News broke that Apple recently invested $1 billion in China’s most popular ride sharing app, Didi Chuxing, which is substantially bigger than Uber in China. As the rationale for the investment, CEO Tim Cook said: “we are making the investment for a number of strategic reasons, including a chance to learn more about certain segments of the China market”. One big reason Apple Inc. (NASDAQ:AAPL) shares have fallen is that its China sales have slowed and that the Chinese government has blocked some of Apple’s services in the country. If Apple can understand the market better and win more goodwill from the powers that be, its sales might recover. A total of 133 funds owned $17.72 billion worth of Apple stock at the end of December.

Follow Apple Inc. (NASDAQ:AAPL)
Trade (NASDAQ:AAPL) Now!

Petrobras Reports a Loss

To no one’s surprise, Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) reported a loss for the first quarter of 2016, which amounted to 1.25 billion reais or $347.5 million, versus a profit of 5.3 billion reais a year ago. When factoring in Petrobras’ float, that translates to a negative EPS of $0.02. Sales dropped 30.7% year-over-year to $17.99 billion as weak oil prices weighed on revenue. In response, the company has vowed to sell assets and reduce debt. Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) shares have more than doubled from their 2016 lows due to the crude rally. Ken Fisher’s Fisher Asset Management held over 10.0 million shares of Petrobras at the end of March.

Follow Petroleo Brasileiro Sa Petrobras (NYSE:PBR)
Trade (NYSE:PBR) Now!

On the next page, we examine InterOil, Concordia Healthcare Corp and TerraForm Global Inc.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.