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Why These 10 Stocks Are Trending on Thursday

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·4 min read
In this article:
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In this article we take a look at the some of notable stocks that are trending today. You can skip our detailed analysis of these stocks and go to read Why These 5 Stocks Are Trending on Thursday.

Some stocks trending in after hours on Thursday include First Solar, Inc. (NASDAQ:FSLR), Yelp Inc. (NYSE:YELP), Uber Technologies, Inc. (NYSE:UBER), Pinterest, Inc. (NYSE:PINS), Expedia Group, Inc. (NASDAQ:EXPE), Airbnb, Inc. (NASDAQ:ABNB), and Square, Inc. (NYSE:SQ). Let's find out why each stock is in the spotlight 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.

Photo by Austin Distel on Unsplash

10. Uber Technologies, Inc. (NYSE:UBER) is trending after the company reported a loss of $1.28 per share for the third quarter, missing the consensus by $0.98 per share. Sales for the period rose 72.6% year over year to $4.85 billion, beating the estimate by $440 million. Despite the loss, Uber Technologies, Inc. (NYSE:UBER) reported its first adjusted EBITDA profit of $8 million. Broad Peak Investment Holdings was long 2,584,150 shares of Uber Technologies, Inc. (NYSE:UBER) at the end of Q3.

9. Pinterest, Inc. (NYSE:PINS) is up in after hours today after the company reported adjusted Q3 EPS of $0.28 on sales of $632.93 million, exceeding the average estimates by $0.05 and $1.83 million. Pinterest, Inc. (NYSE:PINS) said, "Our current expectation is that Q4 revenue will grow in the high teens percentage range year over year. We expect our non-GAAP operating expenses to grow in the low teens quarter over quarter as we continue to invest in our business, including our native content/Creator ecosystem, and our brand marketing campaign. As of November 2, 2021, U.S. MAUs were approximately 89 million and global MAUs were approximately 447 million". At the end of the second quarter, a total of 63 of the elite funds tracked by Insider Monkey were long Pinterest, Inc. (NYSE:PINS).

8. Expedia Group, Inc. (NASDAQ:EXPE) surged by 12% in after hours after reporting a strong third quarter. For the period, Expedia Group, Inc. (NASDAQ:EXPE) earned adjusted EPS of $3.53, beating the consensus by $1.77. Sales rose 97.3% year over year to $2.96 billion, exceeding the average estimate by $240 million. Expedia Group, Inc. (NASDAQ:EXPE) could potentially benefit from stronger demand once the pandemic ends. Melvin Capital Management was long 6,225,000 shares of Expedia Group, Inc. (NASDAQ:EXPE) at the end of Q2.

7. Airbnb, Inc. (NASDAQ:ABNB) is trending after the company reported EPS of $1.22 for Q3, beating average estimates by $0.52. Sales rose 67.2% year over year to $2.24 billion, exceeding the consensus by $180 million. For Q4, Airbnb, Inc. (NASDAQ:ABNB) sees sales of $1.39 billion to $1.48 billion versus the average estimate of $1.44 billion. Hillhouse Capital Management was among the elite fund holders of Airbnb, Inc. (NASDAQ:ABNB) at the end of Q2.

6. Square, Inc. (NYSE:SQ) is trending after the company reported in-line adjusted EPS of $0.37 for Q3. Sales rose 26.7% year over year to $3.84 billion but were $640 million under estimates. Square, Inc. (NYSE:SQ) had gross payment volume of $45.43 billion for the period. Ken Fisher's Fisher Asset Management owned more than 1.5 million shares of Square, Inc. (NYSE:SQ) at the end of September.

Like Uber Technologies, Inc. (NYSE:UBER), Pinterest, Inc. (NYSE:PINS), Expedia Group, Inc. (NASDAQ:EXPE), Airbnb, Inc. (NASDAQ:ABNB), and Square, Inc. (NYSE:SQ), First Solar, Inc. (NASDAQ:FSLR) and Yelp Inc. (NYSE:YELP) are trending.

Click to continue reading and see Why These 5 Stocks Are Trending on Thursday.

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Disclosure: None. Why These 10 Stocks Are Trending on Thursday is originally published on Insider Monkey.