Why These 5 Stocks Are Trending on Friday

In this article we take a look at five stocks that are trending on Friday. If you want to read our detailed analysis of these stocks, go to read Why These 10 Stocks Are Trending on Friday.

5. United States Steel Corporation (NYSE:X) is up 12.7% after the company said it earned an adjusted $5.36 per share for the third quarter on revenues of $5.96 billion. Analysts were expecting adjusted earnings of $4.85 per share on revenue of $5.79 billion, instead. United States Steel Corporation (NYSE:X) CEO David Burritt said, “Our balance sheet has been transformed and the cash flow generation of the business has us highly confident in our ability to pre-fund organic growth investments that will expand our existing competitive advantages.” 39 elite funds in our database were long United States Steel Corporation (NYSE:X) at the end of Q2, up from 22 at the end of Q1.

4. eBay Inc. (NASDAQ:EBAY) rose around 6% as sentiment around the stock improved. Recently, Edward Yruma of KeyBanc also upped his price target to $90 from $80 for eBay Inc. (NASDAQ:EBAY). Shares of the e-commerce company are up almost 49% year to date. 39 elite funds were long eBay Inc. (NASDAQ:EBAY) at the end of June.

3. Gilead Sciences, Inc. (NASDAQ:GILD) is down 3.65% despite reporting adjusted EPS of $2.65 and sales of $7.4 billion versus the consensus of $1.74 and $6.25 billion for Q3. Given the decline, the market apparently had higher expectations than analysts. 54 funds in our database were long Gilead Sciences, Inc. (NASDAQ:GILD) at the end of Q2.

2. Momentive Global Inc. (NASDAQ:MNTV) fell 8% despite the company agreeing to sell to Zendesk. With the decline, the market isn’t as optimistic as management on the potential success of the merger. The number of elite funds in our database long Momentive Global Inc. (NASDAQ:MNTV) fell to 28 at the end of Q2 from 32 at the end of Q1.

1. Zendesk, Inc. (NYSE:ZEN) fell 14.4% after the company agreed to acquire Momentive Global, which is the parent of SurveyMonkey. Although the merger could generate substantial value if it succeeds, it could also end up slowing growth if it fails. At Q2’s end, a total of 52 of the hedge funds tracked by Insider Monkey were long Zendesk, Inc. (NYSE:ZEN).

Disclosure: None.