In this article, we will discuss some of the notable stocks skyrocketing today. To take a look at some more stocks that are rising, go to These 5 Stocks Are Skyrocketing Today.
Overall, the markets are in the red today and losing their steam after closing four days in the positive following mixed messages coming from the negotiations between Russia and Ukraine. The S&P 500 Index, the Dow Jones Industrial Average (DJIA), and the NASDAQ Composite Index are down 0.37%, 0.46%, and 0.49%, respectively, as of 1 PM ET. However, stocks such as Calix, Inc. (NYSE:CALX), Vector Group Ltd. (NYSE:VGR), and Clovis Oncology (NASDAQ:CLVS) reported considerable gains today.
Let’s discuss why these stocks are rising today and take a look at how hedge funds are positioned in them.
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10. Vipshop Holdings Limited (NYSE:VIPS) is up 5.5% as of 9:32 AM ET after the e-commerce company announced that its Board of Directors had given the go-ahead to a share repurchase plan of $1 billion. The plan is to be set in motion for its American Depository Shares (ADS) or Class A ordinary stocks trading on the New York Stock Exchange (NYSE) in the next 24 months. Vipshop Holdings Limited (NYSE:VIPS) intends to use its current cash reserves to fulfill this commitment.
Of the 924 hedge funds in Insider Monkey’s database, Vipshop Holdings Limited (NYSE:VIPS) was held by 30 hedge funds as of Q4 2021.
9. The Carlyle Group Inc. (NYSE:CG) is 6.1% in the green as of 9:37 AM ET after the Washington-based private equity firm announced that it had signed a new agreement with reinsurer Fortitude Re that would increase its asset under management. The Carlyle Group Inc. (NYSE:CG) already has an AUM of $301 billion. The addition will bring in $50 billion worth of new fee-earning assets in the credit segment and generate $50 million annually in fee-related earnings. As of Q4 2021, The Carlyle Group Inc.’s (NYSE:CG) fee-related earnings stood at $174.5 million.
As of Q4 2021, The Carlyle Group Inc. (NYSE:CG) was held by 33 hedge funds. Alkeon Capital Management is the leading hedge fund investor in the company.
8. Cameco Corporation (NYSE:CCJ) has soared 5.3% as of 9:46 AM ET after the Canadian uranium trading and selling company was upgraded from Market Perform to an Outperform rating by Alexander Pearce at BMO Capital. In a report issued yesterday evening, the analyst highlighted that the stock of the world’s largest publicly traded uranium company trades on sentiment ‘more than most.’ He also shared that, presently, the focus on low carbon nuclear generation is gaining attention. Cameco Corporation (NYSE:CCJ) has its supply secured, which is an integral factor that can provide an upside to investors.
Out of the 924 hedge funds covered by Insider Monkey, Cameco Corporation (NYSE:CCJ) is under the ownership of 37 hedge funds as of Q4 2021.
7. Flex Ltd. (NASDAQ:FLEX) has risen over 7% as of 10:07 AM ET after the company announced strong guidance for Q4 FY22 during its virtual investor’s day. Flex Ltd. (NASDAQ:FLEX) anticipates revenue of $6.2 billion to $6.6 billion as opposed to the analysts’ estimates of $5.8 billion. Meanwhile, the corporation has guided that it expects adjusted EPS to be around 41 cents to 46 cents, compared to the consensus forecast of 40 cents.
As of Q4 2021, Flex Ltd. (NASDAQ:FLEX) was reported to be held by 43 hedge funds. Lyrical Asset Management is long over 13 million shares of Flex Ltd. (NASDAQ:FLEX).
6. Globant S.A. (NYSE:GLOB) has rocketed 6.7% as of 10:18 AM ET after a report issued earlier today by Jefferies highlighted that yesterday’s decline in stock price following the revelation of a code breach was an overreaction. The stock price of the Argentinian software development company had fallen after it shared that data was stolen from its code repository. The Lapsus$ group of hackers claimed responsibility for the attack and revealed that 70 GB of data was stolen. Surinder Thind at Jefferies gave Globant S.A. (NYSE:GLOB) stock a Buy rating with a price target of $367.
Globant S.A. (NYSE:GLOB) was held by 26 hedge funds as of Q4 2021. On a sequential basis, the number of hedge funds having a stake in the corporation has increased by five.
Along with Globant S.A. (NYSE:GLOB), stocks such as Calix, Inc. (NYSE:CALX), Vector Group Ltd. (NYSE:VGR), and Clovis Oncology (NASDAQ:CLVS) are amongst the top gainers today.
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Disclose. None. These 10 Stocks Are Skyrocketing Today is originally published on Insider Monkey.
