All three indexes are in the green this morning along with crude, as traders are bullish in anticipation of strong earnings reports from corporate America. Among the stocks in the spotlight today are Amazon.com, Inc. (NASDAQ:AMZN), Valeant Pharmaceuticals Intl Inc (NYSE:VRX), Dicks Sporting Goods Inc (NYSE:DKS), Alphabet Inc (NASDAQ:GOOG), and Microsoft Corporation (NASDAQ:MSFT). In this tech-heavy edition of market trending news, we take a look at why each stock has investors atwitter and how the collection of elite funds tracked by Insider Monkey are positioned in them.
Our backtests that covered the period between 1999 and 2012, showed that following the 15 most popular small-caps among hedge funds can help a retail investor beat the market by an average of 95 basis points per month (see the details here).
Amazon.com Prime Results Strong
Amazon.com, Inc. (NASDAQ:AMZN) is in the spotlight after the e-commerce giant announced that its Prime Day orders rose by 50% in the United States and by 60% worldwide. Given that initial data from third-party merchants indicated that Prime sales rose by only 30% year-over-year, the news of the substantial order jump is certainly good. Another piece of good news could be the number of new sign-ups due to Prime Day. Some analysts estimate that Prime Day helped Amazon bring in millions of new subscribers, many of whom will stick with Amazon after the promotional day. In other news, Amazon has announced that it will renew the award-winning video show Catastrophe for two more years. Stephen Mandel‘s Lone Pine Capital was one of the top shareholders of Amazon.com, Inc. (NASDAQ:AMZN) at the end of March, with a holding of almost 2.00 million shares.
Valeant Comments on Former CEO’s Stock Sale
Valeant Pharmaceuticals Intl Inc (NYSE:VRX) issued a press release today commenting on the recent exercise and sale of 4.4 million shares of the company by former CEO Michael Pearson, who also sold 411,000 common shares throughout June and July. Although the sales of stock by the former CEO could be construed bearishly, Valeant states that it understands Mr. Pearson sold the assets to satisfy tax obligations and for additional liquidity. Valeant notes that Mr. Pearson still owns 3.5 million shares of the company’s stock and continues to believe in its potential. Bill Ackman‘s Pershing Square is a major shareholder of Valeant Pharmaceuticals Intl Inc (NYSE:VRX) and sits on the company’s Board.
On the next page we examine Dicks Sporting Goods, Alphabet Inc, and Microsoft Corporation are in the spotlight today.