In this article we will take a look at the some notable stocks that trended this week. You can skip our detailed analysis of these stocks and go to read These 5 Stocks Were in the Spotlight This Week.
Stocks that were in the spotlight this week include The Boeing Company (NYSE:BA), McDonald’s Corporation (NYSE:MCD), United Parcel Service, Inc. (NYSE:UPS), Shopify Inc. (NYSE:SHOP), Texas Instruments Incorporated (NASDAQ:TXN), Advanced Micro Devices, Inc. (NASDAQ:AMD), and General Electric Company (NYSE:GE). Let’s find out why each stock trended and how elite funds were positioned among them.
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10. United Parcel Service, Inc. (NYSE:UPS) was in the spotlight this week after reporting third quarter adjusted EPS of $2.71 versus the consensus of $2.54. Sales were $23.2 billion versus the average estimate of $22.56 billion. Following the earnings release, Todd Fowler of KeyBanc raised his price target to $250 from $235 and kept his ‘Overweight’ rating on United Parcel Service, Inc. (NYSE:UPS). At Q2’s end, a total of 52 of the hedge funds tracked by Insider Monkey were bullish on United Parcel Service, Inc. (NYSE:UPS), a change of 18% from one quarter earlier.
9. Shopify Inc. (NYSE:SHOP) trended this week after the company reported softer than expected earnings for the third quarter. For the period Shopify Inc. (NYSE:SHOP) earned an adjusted EPS of $0.81 versus the consensus of $1.35. Sales were $1.12 billion, below the average estimate of $1.41 billion. Despite the miss, Shopify Inc. (NYSE:SHOP) shares nevertheless rose almost 3% this week. Lone Pine Capital was the largest shareholder of Shopify Inc (NYSE:SHOP), with a stake worth $2385.1 million reported as of the end of June
8. Texas Instruments Incorporated (NASDAQ:TXN) fell 6.15% this week in part due to mixed third quarter earnings results. For the period, Texas Instruments Incorporated (NASDAQ:TXN) earned $2.07 per share on sales of $2.64 billion versus estimates of $2.05 per share on revenue of $4.66 billion. Texas Instruments Incorporated (NASDAQ:TXN) sees fourth quarter EPS of $1.83-$2.07 versus the consensus of $1.93. Among the 873 funds in our database, AQR Capital Management held the most valuable stake in Texas Instruments Incorporated (NASDAQ:TXN), which was worth $470.5 million at the end of the second quarter
7. Advanced Micro Devices, Inc. (NASDAQ:AMD) reported strong results for the third quarter with EPS of $0.73 versus the consensus of $0.67. Revenue was $4.31 billion versus the average estimate of $4.12 billion. Advanced Micro Devices, Inc. (NASDAQ:AMD) CEO Lisa Su said, “AMD had another record quarter as revenue grew 54% and operating income doubled year-over-year.” Fisher Asset Management was long 15,779,331 shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) at the end of September.
6. General Electric Company (NYSE:GE) was in the spotlight this week after reporting third quarter adjusted EPS of $0.57, ahead of the consensus of $0.43. Nevertheless, General Electric Company (NYSE:GE)’s sales of $18.43 billion was below the average estimate of $19.25 billion. For FY21, General Electric Company (NYSE:GE) has an adjusted EPS view of $1.80-$2.10, versus the prior $1.2-$2. At second quarter’s end, a total of 67 of the hedge funds tracked by Insider Monkey held long positions in General Electric Company (NYSE:GE), a change of -1% from one quarter earlier.
Like United Parcel Service, Inc. (NYSE:UPS), Shopify Inc. (NYSE:SHOP), Texas Instruments Incorporated (NASDAQ:TXN), Advanced Micro Devices, Inc. (NASDAQ:AMD), and General Electric Company (NYSE:GE), The Boeing Company (NYSE:BA) and McDonald’s Corporation (NYSE:MCD) were also in the spotlight.
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Disclosure: None. These 10 Stocks Were in the Spotlight This Week is originally published on Insider Monkey.
