The market has stayed basically flat on Tuesday, as the Dow Jones inched down by around 0.08% and the S&P 500 declining by around 0.13%. However, some companies have managed to perform better than others, while others have declined significantly. In this piece we will take a look at the top S&P 500 movers, which include: Molson Coors Brewing Company (NYSE:TAP), Facebook Inc (NASDAQ:FB) as top gainers and Cognizant Technology Solutions Corp (NASDAQ:CTSH) as the top loser.
Molson Coors Brewing Company (NYSE:TAP) gained around 5.6% so far on Tuesday, while over the past five days, the stock advanced by around 8%, currently trading around its 52-week high. On Tuesday, the trading volume of Molson Coors reached over 5.9 million shares, which is significantly above the average volume. With a Year-to-Date return of over 20%, Molson Coors Brewing Company (NYSE:TAP) is one of the top performers in the brewers industry, outperforming the industry, which returned around 2.8% over the same period. A couple of days ago, the company announced that it has expanded its investment in its brewery in the UK by around $49 million, taking the whole investment to a whooping $126 million.
Among the hedge funds we track, the largest shareholder of Molson Coors Brewing Company (NYSE:TAP) is John A. Levin‘s Levin Capital Strategies, which has cut its stake by almost 60% during the first quarter, currently holding around 1.03 million shares. Larry Foley and Paul Farrell‘s Bronson Point Partners has initiated a stake in the company during the first quarter, which contains 500,000 shares.
On the second spot on the top gainers list stands Facebook, Inc (NASDAQ:FB), which has added 4.40% on Tuesday in 59.8 million shares volume. Facebook has gained over 20% since the beginning of the year, while over the past year, it has surged by over 169%. Yesterday, Facebook Inc (NASDAQ:FB) announced hiring David Marcus, the president of eBay Inc (NASDAQ:EBAY)’s PayPal mobile payments business to lead its mobile messaging segment.
David E. Shaw‘s D E Shaw is one of the hedge funds bullish on Facebook Inc (NASDAQ:FB), raising its stake by more than 50% during the first three months and reporting ownership of 9.03 million shares in its latest 13F. Andreas Halvorsen‘s Viking Global, on the other hand, reduced its exposure to the company down to 8.82 million shares.
Now, after we have seen the top gainers, let’s take a look at Cognizant Technology Solutions Corp (NASDAQ:CTSH), which has not performed brilliantly today. Its stock dropped by around 4.7% on Tuesday, in a volume of 6.8 million shares, almost double in comparison with its average volume. The stock of Cognizant Technology Solutions Corp (NASDAQ:CTSH) has been volatile, while its year-to-date return is a negative 6%. Cognizant trades at a P/E of around 23.00, above the industry average of approximately 19.00.
Investors also seem to be bullish on this technology stock, most of the top shareholders in our database boosting their stakes in Cognizant Technology Solutions Corp (NASDAQ:CTSH) during the first three months of the year. The fund with the largest stake is Stephen Mandel‘s Lone Pine Capital, which surged its stake by some 170% during the first quarter to 28.72 million shares.
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