Top 5 Gainers on Wednesday

3. Unity Software Inc. (NYSE:U)

Number of Hedge Fund Holders: 39

Shares of Unity Software Inc. (NYSE:U) rose nearly three percent this morning following the news that rival AppLovin Corp has sent a proposal to buy Unity Software in an all-stock transaction valued at $17.54 billion.

Unity Software Inc. (NYSE:U) said that its board has yet to make a decision regarding the offer. If the deal is finalized, CEO of Unity Software Inc. (NYSE:U) will become the new head of the combined company, while AppLovin’s CEO will become the chief operating officer.

Meanwhile, Unity Software Inc. (NYSE:U) recently delivered mixed financial results for the second quarter. The San Francisco-based software company reported an adjusted loss of 18 cents per share, narrower than analysts’ average estimate for a loss of 21 cents per share. On the downside, the quarterly revenue of $297 million came in slightly below the consensus of $298.30 million.