Why Are Investors Piling Into These Surging Stocks Today?

Travelport Worldwide Ltd (NYSE:TVPT) is up by 9% after reporting third quarter earnings of $0.25 per share on revenues of $560 million, beating estimates by $0.08 per share and $1.97 million, respectively. eNett revenue grew by 48% year-over-year while the company’s European revenue rose by 11% year-over-year. Adjusted free cash flow was $31 million, up by $93 million from the third quarter of 2014. Travelport’s outlook is strong, as management raised fiscal year 2015 revenue guidance to $2.18 billion-to-$2.22 billion from the previous $2.16 billion-to-$2.24 billion and also increased adjusted EBITDA guidance to $528 million-to-$533 million from the previous $518 million-to-$533 million. 23 funds reported holding stakes worth $482.35 million or 28.50% of Travelport’s float, as of the end of June, with Christopher Pucillo‘s Solus Alternative Asset Management among them, with a holding of 7.19 million shares.

CONN’S, Inc. (NASDAQ:CONN) is up by 11.8% after the company’s board approved an additional $100 million in share buybacks. The company also amended its asset-backed credit facility in a way that extends the maturity date and increases the total leverage ratio covenant to 4x from 2x. Conn’s’ shareholders have had a wild ride in 2015, as shares of the stock rallied to $40 but later retraced back to $21 on sentiment shifts. With the U.S economy strong, the stock could do well even if it doesn’t sell itself, although demand will see a marked downturn if the unemployment rate rises. Conn’s is very polarizing, with 39% of the float short and 24 funds reporting long stakes worth $829.02 million, a whopping 57.20% of the float, as of June 30. Christian Leone‘s Luxor Capital Group owned 6.63 million shares at the end of the second quarter.

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