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These 10 Stocks Were in the Spotlight This Week

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·4 min read
In this article:
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  • TXN
  • AMD
  • SHOP
  • GE
  • UPS
  • BA
  • MCD

In this article we will take a look at the some notable stocks that trended this week. You can skip our detailed analysis of these stocks and go to read These 5 Stocks Were in the Spotlight This Week.

Stocks that were in the spotlight this week include The Boeing Company (NYSE:BA), McDonald's Corporation (NYSE:MCD), United Parcel Service, Inc. (NYSE:UPS), Shopify Inc. (NYSE:SHOP), Texas Instruments Incorporated (NASDAQ:TXN), Advanced Micro Devices, Inc. (NASDAQ:AMD), and General Electric Company (NYSE:GE). Let's find out why each stock trended 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. United Parcel Service, Inc. (NYSE:UPS) was in the spotlight this week after reporting third quarter adjusted EPS of $2.71 versus the consensus of $2.54. Sales were $23.2 billion versus the average estimate of $22.56 billion. Following the earnings release, Todd Fowler of KeyBanc raised his price target to $250 from $235 and kept his 'Overweight' rating on United Parcel Service, Inc. (NYSE:UPS). At Q2's end, a total of 52 of the hedge funds tracked by Insider Monkey were bullish on United Parcel Service, Inc. (NYSE:UPS), a change of 18% from one quarter earlier.

9. Shopify Inc. (NYSE:SHOP) trended this week after the company reported softer than expected earnings for the third quarter. For the period Shopify Inc. (NYSE:SHOP) earned an adjusted EPS of $0.81 versus the consensus of $1.35. Sales were $1.12 billion, below the average estimate of $1.41 billion. Despite the miss, Shopify Inc. (NYSE:SHOP) shares nevertheless rose almost 3% this week. Lone Pine Capital was the largest shareholder of Shopify Inc (NYSE:SHOP), with a stake worth $2385.1 million reported as of the end of June

8. Texas Instruments Incorporated (NASDAQ:TXN) fell 6.15% this week in part due to mixed third quarter earnings results. For the period, Texas Instruments Incorporated (NASDAQ:TXN) earned $2.07 per share on sales of $2.64 billion versus estimates of $2.05 per share on revenue of $4.66 billion. Texas Instruments Incorporated (NASDAQ:TXN) sees fourth quarter EPS of $1.83-$2.07 versus the consensus of $1.93. Among the 873 funds in our database, AQR Capital Management held the most valuable stake in Texas Instruments Incorporated (NASDAQ:TXN), which was worth $470.5 million at the end of the second quarter

7. Advanced Micro Devices, Inc. (NASDAQ:AMD) reported strong results for the third quarter with EPS of $0.73 versus the consensus of $0.67. Revenue was $4.31 billion versus the average estimate of $4.12 billion. Advanced Micro Devices, Inc. (NASDAQ:AMD) CEO Lisa Su said, "AMD had another record quarter as revenue grew 54% and operating income doubled year-over-year." Fisher Asset Management was long 15,779,331 shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) at the end of September.

6. General Electric Company (NYSE:GE) was in the spotlight this week after reporting third quarter adjusted EPS of $0.57, ahead of the consensus of $0.43. Nevertheless, General Electric Company (NYSE:GE)'s sales of $18.43 billion was below the average estimate of $19.25 billion. For FY21, General Electric Company (NYSE:GE) has an adjusted EPS view of $1.80-$2.10, versus the prior $1.2-$2. At second quarter’s end, a total of 67 of the hedge funds tracked by Insider Monkey held long positions in General Electric Company (NYSE:GE), a change of -1% from one quarter earlier.

Like United Parcel Service, Inc. (NYSE:UPS), Shopify Inc. (NYSE:SHOP), Texas Instruments Incorporated (NASDAQ:TXN), Advanced Micro Devices, Inc. (NASDAQ:AMD), and General Electric Company (NYSE:GE), The Boeing Company (NYSE:BA) and McDonald's Corporation (NYSE:MCD) were also in the spotlight.

Click to continue reading and see These 5 Stocks Were in the Spotlight This Week.

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Disclosure: None. These 10 Stocks Were in the Spotlight This Week is originally published on Insider Monkey.