Why These 5 Stocks Are Surging on Thursday

In this article we take a look at five stocks surging on Thursday. If you want to read our detailed analysis of these stocks, go to read Why These 10 Stocks Are Surging on Thursday.

5. Exxon Mobil Corporation (NYSE:XOM) has surged 3.5% due to oil prices increasing. According to the EIA, crude stocks in the U.S. fell to the lowest since October 2018 and fuel demand has been growing. If the global economy continues to improve and if China contains the Evergrande troubles, Exxon Mobil Corporation (NYSE:XOM)’s profits could benefit.

First Eagle Investment Management owned a position of almost 25.5 million shares in Exxon Mobil Corporation (NYSE:XOM) at the end of June 30, 2021.

4. Chevron Corporation (NYSE:CVX), like Exxon Mobil Corporation (NYSE:XOM), has also rallied due to higher oil prices. As of late noon Thursday, shares of Chevron Corporation (NYSE:CVX) are up 2.57% as Brent crude futures have increased around 1.4% to $77.25 per barrel. With today’s rally, Chevron Corporation (NYSE:CVX) is up 18% year to date. Of the around 873 elite funds in our database, 50 were long Chevron Corporation (NYSE:CVX) at the end of the second quarter.

3. Embraer S.A. (NYSE:ERJ) has rallied 11.2% after Goldman Sachs upgraded the stock to ‘Buy’ from ‘Neutral’ given the investment bank sees ‘operational performance upside’. If air travel rebounds when the pandemic ends, Embraer S.A. (NYSE:ERJ) could be in a good position to benefit as well. Oldfield Partners was long 4.4 million shares in Embraer S.A. (NYSE:ERJ) at the end of June.

2. General Motors Company (NYSE:GM) is up 2.2% due to the broader market rally and the news that the company is investing $300 million in Momenta, a Chinese self driving car company. China is a huge market and General Motors Company (NYSE:GM) profits could potentially increase if it succeeds in autonomous driving or investing in successful autonomous driving companies. The number of elite funds that we track that owned 13F equity shares in General Motors Company (NYSE:GM) remained stable in Q2 at 86 quarter over quarter.

1. QuantumScape Corporation (NYSE:QS) has rallied more than 16% due to technical trading. The stock is very sensitive to sentiment changes. The number of elite funds that we track that were long QuantumScape Corporation (NYSE:QS) decreased by 3 from the prior quarter to 26 at the end of Q2

Disclosure: None.