Why Facebook, Netflix, and Three Other Stocks Are in Spotlight Today

JPMorgan Chase & Co. (NYSE:JPM) is trending after The Wall Street Journal published an article describing that the bank is developing a ‘new twist’ on blockchain, which is the principle innovation of bitcoin.  Rather than creating a new private blockchain, the bank’s engineers have figured out a way to grant access to various financial transactions to just the people who need to know, thus allowing the ledger be more flexible. Although the initiative is still young, it could help save JPMorgan and other banks substantial money in the long run. Hedge fund sentiment in JPMorgan Chase & Co. (NYSE:JPM) was relatively stable from March 31 to June 30. Of the around 749 funds that we track, 99 of them owned shares of JPMorgan Chase & Co. (NYSE:JPM) at the end of the second quarter, up by two funds from the previous quarter.

Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) is in the green after the S&P Dow Jones Indices announced that Ollie’s will replace Parkway Properties in the S&P SmallCap 600 after market close on October 5. Due to the need of various index funds to own all of the companies in an index, some traders anticipate additional demand for Ollie’s shares in the near term, hence the rally. The smart money was pretty bullish on Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) in the second quarter, as our data shows that the number of funds with holdings in Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) rose by eight quarter-over-quarter to 19 at the end of June.

Conatus Pharmaceuticals Inc (NASDAQ:CNAT) shares are higher today after the company announced the acceptance of emricasan abstracts for four posters — two for addressing clinical results and two for addressing preclinical results with the company’s pan-caspase inhibitor, emricasa — for the  AASLD Annual Meeting in Boston November 11-15, 2016. As with all nano-caps, investors should do due-diligence on both sides of the trade. Four funds from our database owned shares of Conatus Pharmaceuticals Inc (NASDAQ:CNAT) at the end of the second quarter, up by one from the previous quarter.

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