These 10 Stocks are Trending Today

Published August 30, 2022 at 4:06 pm EDT Updated September 7, 2026 at 2:25 pm EDT

In this article, we will take a look at the 10 stocks that are trending today.

Chinese search engine giant Baidu, Inc. (NASDAQ:BIDU), consumer electronics retailer Best Buy Co., Inc. (NYSE:BBY) and tech firm Corning Incorporated (NYSE:GLW) came into the limelight this morning.

Shares of Baidu, Inc. (NASDAQ:BIDU) and Best Buy Co., Inc. (NYSE:BBY) were spotted trading on a massive volume after their recent earnings. On the other hand, Corning Incorporated (NYSE:GLW) shares moved up after revealing its plans of building an optical cable manufacturing facility in Arizona.

Many other companies, including Bed Bath & Beyond Inc. (NASDAQ:BBBY) and Photronics, Inc. (NASDAQ:PLAB), were also trending in mid-day trading Tuesday. Check out the complete article below to see what brought these stocks into the spotlight.

These 10 Stocks are Trending Today

10. Conn’s, Inc. (NASDAQ:CONN)

Number of Hedge Fund Holders: 12

Shares of Conn’s, Inc. fell nearly seven percent this morning after missing profit and sales expectations for its fiscal second quarter. The consumer goods retailer reported adjusted earnings of 4 cents per share, well below $1.22 per share in the corresponding period of 2021.

Revenue for the quarter fell 17.1 percent on a year-over-year basis to $346.6 million. Analysts expected Conn’s, Inc. to earn 9 cents per share on revenue of $370.23 million. If we look at its segment-wise sales performance, credit revenue decreased 6.4 percent to $66.8 million, while retail revenue plummeted 19.4 percent to $279.8 million in the quarter.

Among other updates, Conn’s, Inc. said it would postpone or eliminate certain capital investments, such as store launches, to save costs.

Speaking on the results, CEO Chandra Holt said in a statement:

“Challenging macroeconomic conditions continued to pressure consumer spending during our second quarter, which disproportionately affected year-over-year sales to our financial access customer segment and sales of our discretionary product categories. While we entered the second quarter with a cautious outlook for the remainder of the fiscal year, the retail environment has continued to deteriorate prompting us to accelerate our efforts to reduce operating costs, and lower capital expenditures as well continue to maintain conservative credit underwriting.”

9. Bed Bath & Beyond Inc. (NASDAQ:BBBY)

Number of Hedge Fund Holders: 14

Shares of Bed Bath & Beyond Inc. fell in mid-day trading Tuesday, just ahead of an investor update scheduled for tomorrow. The New Jersey-based retailer recently stated in a press release that it will conduct a conference call on Wednesday morning to offer a business update to investors.

Bed Bath & Beyond Inc. added that it intends to better serve customers, grow market share and improve its profitability and cash flow. Bed Bath & Beyond Inc. will provide insight into strategies and changes it is implementing across the company to turnaround its business.

Bed Bath & Beyond Inc. is one of the most heavily traded stocks right now. Contrary to today’s drop, the stock gained nearly 25 percent on a massive volume of about 136 million in the previous trading session.

8. Big Lots, Inc. (NYSE:BIG)

Number of Hedge Fund Holders: 14

Shares of Big Lots, Inc. (NYSE:BIG) rose nearly five percent this morning after posting a narrower-than-expected loss for its fiscal second quarter. The Ohio-based retail company reported an adjusted loss of $2.28 per share, while analysts, on average, were looking for a loss of $2.47 per share.

In addition, Big Lots, Inc. generated revenue of $1.35 billion, down 7.6 percent versus the year-ago period but above the consensus of $1.34 billion. Same-store sales fell 9.2 percent, compared to analysts’ projection for a drop of 9.8 percent.

For the current quarter, Big Lots, Inc. expects its same-store sales to decrease in the low double-digit range. In addition, the company said it is taking measures to boost its gross margin rate and reduce costs.

7. Lucid Group, Inc. (NASDAQ:LCID)

Number of Hedge Fund Holders: 16

Lucid Group, Inc. (NASDAQ:LCID) came into the spotlight this morning after filing a shelf registration to raise up to $8 billion in capital. The shelf offering would allow the Newark-based electric vehicle (EV) maker to sell various types of securities when needed.

However, Lucid Group, Inc. will decide about the size and price of the offering at the time of sale. The latest development comes at a time when the company is experiencing production delays due to supply chain challenges.

Lucid Group, Inc. trimmed its production target earlier this month, citing logistic hurdles. The company is now looking to manufacture 6,000 – 7,000 vehicles this year, significantly lower than its previous projection of 12,000 – 14,000.

Like Lucid Group, Inc., Baidu, Inc., Best Buy Co., Inc. and Corning Incorporated, are also among the top trending stocks on Tuesday.

6. JOYY Inc. (NASDAQ:YY)

Number of Hedge Fund Holders: 18

JOYY Inc. (NASDAQ:YY) swung to a profit in the second quarter. However, its quarterly revenue fell short of estimates amid a drop in the number of paying users on its video-streaming platform. As a result, its shares slipped nearly 5 percent before the opening bell today.

The Singapore-based company reported adjusted earnings of 65 cents per ADS, compared to a loss of 1 cent per ADS in the year-ago period. In addition, JOYY Inc. posted revenue of $596.1 million, down from $661.7 million in the comparable period of 2021. Analysts were called for earnings of 20 cents per share on revenue of $603.11 million.

JOYY Inc. also disclosed its segment-wise sales results. Its live streaming revenue decreased to $565.2 million, from $629.6 million in the year-ago quarter. The drop was attributed to lower average revenue per paying user at BIGO. In comparison, other revenue slipped 3.8 percent to $30.9 million in the quarter.

If we explore JOYY’s key performance indicators, average mobile monthly active users (MAUs) of Bigo Live jumped 10.6 percent to 32.6 million in the quarter. On the downside, BIGO’s total paying users fell 8.1 percent to 1.45 million.

5. Photronics, Inc. (NASDAQ:PLAB)

Number of Hedge Fund Holders: 23

Shares of Photronics, Inc. took a deep dive this morning, losing more than 22 percent of their value. The drop came after the semiconductor photomask maker issued a weak financial outlook for its fiscal fourth quarter.

Photronics, Inc. guided for earnings in the range of 44 – 52 cents per share and revenue between $205 – $215 million for the current quarter. This compares to the consensus of 53 cents per share for earnings and $214.5 million for revenue.

The weak guidance also overshadowed Photronics’ better-than-expected results for its fiscal third quarter. Photronics, Inc. reported earnings of 51 cents per share, beating the consensus of 50 cents per share.

Revenue for the quarter advanced 29 percent versus last year to $219.9 million, while analysts expected Photronics, Inc. to generate revenue of $210 million. Revenue from the integrated circuit segment climbed 37 percent to $161.3 million, and revenue from the flat panel display segment rose 11 percent to $58.7 million in the quarter.

4. Best Buy Co., Inc. (NYSE:BBY)

Number of Hedge Fund Holders: 26

Best Buy Co., Inc. is trending today after announcing financial results for its fiscal second quarter. The consumer electronics retailer earned $1.54 per share on an adjusted basis, down from $2.98 per share in the corresponding period of 2021.

Revenue for the quarter decreased to $10.33 billion, from $11.85 billion in the year-ago period. Analysts expected Best Buy Co., Inc. to earn $1.27 per share on revenue of $10.27 billion.

Best Buy Co., Inc. also released its region-wise sales results. Its domestic revenue decreased 13.1 percent to $9.57 billion, while international revenue slid 9.3 percent to $760 million in the quarter. The drop in revenue was mainly attributed to inflation, which forced many to limit their spending on electronic equipment.

3. Corning Incorporated (NYSE:GLW)

Number of Hedge Fund Holders: 34

Corning Incorporated came into the spotlight today following the news that it intends to build an optical cable manufacturing facility in Arizona as a part of its long-term partnership with AT&T.

The new facility will add about 250 jobs in the region. Corning Incorporated expects the plant to start functioning in 2023. The facility would allow the company to capitalize on the increasing demand for optical cable.

Speaking on the development, CEO of Corning Incorporated, John Stankey, said in a statement:

“This investment is a significant step forward for our country and building world-class broadband networks that will help narrow the nation’s digital divide. This new facility will provide additional optical cable capacity to meet the record demand the industry is seeing for fast, reliable connectivity.”

2. HEICO Corporation (NYSE:HEI)

Number of Hedge Fund Holders: 39

Shares of HEICO Corporation (NYSE:HEI) slid about two percent in the pre-market trading session on Tuesday. The drop came after the aerospace and electronics company missed profit expectations for its fiscal third quarter.

HEICO Corporation reported earnings of 60 cents per share, up from 56 cents per share in the year-ago period but below the consensus of 66 cents per share. On the bright side, revenue jumped 21 percent to $569.5 million, topping the expectations of $553.72 million.

Now let’s break down HEICO’s total revenue by segments. Revenue from its flight support group rallied 39 percent to $330.3 million, while revenue from the electronic technologies group inched up 2 percent to $244.2 million in the quarter.

Moving forward, HEICO Corporation sees continuous recovery in air travel demand worldwide. However, the company didn’t issue its full-year outlook amid an uncertain macro environment.

1. Baidu, Inc. (NASDAQ:BIDU)

Number of Hedge Fund Holders: 45

Shares of Baidu, Inc. turned green before the opening bell today after the Chinese search engine giant posted impressive financial results for the second quarter.

Baidu, Inc. reported adjusted earnings of $2.36 per share, smashing the consensus of $1.54 per share. Revenue came in at $4.43 billion, topping analysts’ average estimate of $4.3 billion.

In addition, Baidu, Inc. also disclosed its segment-wise sales results. Revenue from Baidu Core slid 4 percent to $3.46 billion, while iQIYI revenue fell 13 percent to $994 million in the quarter.

Commenting on the results, CFO of Baidu, Inc., Rong Luo, said:

“Baidu Core delivered a non-GAAP operating margin of 22% in the second quarter, up from 17% in the first quarter of 2022, as we continued to optimize our costs and enhance operational efficiency. Going forward, we remain committed to quality revenue growth and sustainable business models.”

You can also take a peek at Top 10 Stock Picks of Minerva Advisors and 10 Best Cyclical Stocks for Inflation.

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