Why These 10 Stocks Are Trending on Wednesday

Published November 3, 2021 at 8:22 pm EDT Updated September 7, 2026 at 1:05 pm EDT

In this article we take a look at the some of notable stocks that are trending today.

Some stocks trending in the after market on Wednesday include APA Corporation (NASDAQ:APA), Pioneer Natural Resources Company (NYSE:PXD), Roku, Inc. (NASDAQ:ROKU), QUALCOMM Incorporated (NASDAQ:QCOM), SunPower Corporation (NASDAQ:SPWR), Booking Holdings Inc. (NASDAQ:BKNG), and Take-Two Interactive Software, Inc. (NASDAQ:TTWO). Let’s examine why each stock is trending and how elite funds were positioned among them.

Why do we care about hedge fund activity? Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 86 percentage points since March 2017. Between March 2017 and July 2021 our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by 86 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

10. Roku, Inc. is in the spotlight after reporting third quarter EPS of $0.48 per share, beating the consensus by $0.41. Sales for the period rose 50.5% year over year to $680 million but were $0.82 million under the average estimate. For Q4, Roku, Inc. sees revenue of $885 million to $900 million, which is below the consensus of $944.4 million. Of the 873 elite funds in our database, Roku, Inc. was in 61 elite funds’ portfolios at the end of June.

9. QUALCOMM Incorporated rose in after hours after the company reported fourth quarter EPS of $2.55 versus the consensus of $2.26. Adjusted revenue for the period of $9.32 billion was also ahead of estimates of $8.86 billion. For Q1, the company sees adjusted EPS of $2.90-$3.1 versus the average estimate of $2.6. At Q2’s end, a total of 72 of the hedge funds tracked by Insider Monkey held long positions in QUALCOMM Incorporated.

8. SunPower Corporation fell in the after market despite reporting third quarter adjusted EPS of $0.06 versus the consensus of $0.02 per share. One reason could be that the company sees fourth quarter sales of $330 million to $380 million excluding CIS and Legacy segments, which may have been under some estimates. D E Shaw was long 3,197,920 shares of SunPower Corporation at the end of June.

7. Booking Holdings Inc. rose in extended market trading after reporting Q3 adjusted EPS of $37.7, versus the consensus of $32.90. Sales for the period were $4.7 billion, versus the consensus of $4.3 billion. Booking Holdings Inc. CEO Glenn Fogel said, “We are encouraged by the signs of recovery we saw in many parts of the world in the third quarter, and our teams are working hard to continue to strengthen our company’s position and execute against our strategic priorities.” Yacktman Asset Management was among the elite fund holders of Booking Holdings Inc. at the end of September.

6. Take-Two Interactive Software, Inc. is trending after the company reported second quarter EPS of $0.09 missing the consensus by $0.51. Net bookings rose 2.9% year over year to $984.85 million, beating the average estimate by $109.16 million. Take-Two Interactive Software, Inc. has a FY22 net bookings outlook of $3.3 billion to $3.4 billion.
Arrowstreet Capital owned 680,269 shares of Take-Two Interactive Software, Inc. at the end of Q2.

Like Roku, Inc., QUALCOMM Incorporated, SunPower Corporation, Booking Holdings Inc., and Take-Two Interactive Software, Inc., APA Corporation and Pioneer Natural Resources Company are trending.

5. APA Corporation is trending in extended market trading after reporting adjusted EPS of $0.98 for the third quarter, exceeding the consensus by $0.07 per share. Revenue for the period was $2.06 billion, up 83.9% year over year as higher oil prices helped the company’s overall results. For FY21, APA Corporation also sees $2 billion of free cash flow. Among the elite funds in our database, the largest stake in APA Corporation was held by D E Shaw, which reported holding $228.2 million worth of stock at the end of June.

4. Pioneer Natural Resources Company is in the spotlight after reporting third quarter adjusted EPS of $4.13 versus the consensus of $3.89. Sales for the period were $4.46 billion, versus the average estimate of $2.86 billion. For Q4, Pioneer Natural Resources Company sees oil production of 388-403 MBOPD. Pioneer Natural Resources Company is also trending after it announced a definitive agreement to sell all the company’s assets in the Delaware Basin to Continental Resources for $3.25 billion in cash, subject to normal closing adjustments. At second quarter’s end, a total of 45 of the elite funds tracked by Insider Monkey were long Pioneer Natural Resources Company, a change of 22% from the previous quarter.

3. Continental Resources, Inc. (NYSE:CLR) is in the spotlight after it entered into an agreement to buy all of Pioneer Natural Resources Company’s assets in the Delaware Basin for $3.25 billion in cash, subject to normal closing adjustments. The deal is expected to close in the fourth quarter. Continental Resources, Inc. is also trending after it reported in-line adjusted EPS of $1.2 for Q3. Sales for the period rose 93.5% year over year to $1.34 billion but missed the consensus by $70 million. Steve Cohen’s Point72 Asset Management was long 832,136 shares of Continental Resources, Inc. at the end of June.

2. Lincoln National Corporation (NYSE:LNC) is trending after the company reported adjusted EPS of $1.62 for Q3, missing the average estimate by $0.95. Sales for the period rose 9.4% year over year to $5.24 billion and were $420 million ahead of estimates. The company also raised its dividend by around 7.1%. Two Sigma Advisors was among the elite fund holders of Lincoln National Corporation at the end of Q2.

1. Costco Wholesale Corporation (NASDAQ:COST) is trending after the company reported October sales of $16.47 billion, up 19.2% year over year. With higher sales, it’s generally easier for a company like Costco Wholesale Corporation to be more profitable. Fisher Asset Management was long 3,887,213 shares of Costco Wholesale Corporation at the end of Q3.

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