Why Are These Stocks in Spotlight on Monday?

US stocks extended losses on Monday as the Brexit hangover continues to damage the market sentiment.

Meanwhile, some important stocks are in the spotlight today, including Dicks Sporting Goods Inc (NYSE:DKS), GameStop Corp. (NYSE:GME), TransCanada Corporation (USA) (NYSE:TRP), Alphabet Inc (NASDAQ:GOOGL) and Facebook Inc (NASDAQ:FB). Let’s take a closer look at the

Through extensive research, we determined that imitating some of the picks of hedge funds and other institutional investors can help generate market-beating returns over the long run. The key is to focus on the small-cap picks of these investors, since they are usually less followed by the broader market and are less price-efficient. Our backtests that covered the period between 1999 and 2012, showed that following the 15 most popular small-caps among hedge funds can help a retail investor beat the market by an average of 95 basis points per month (see more details here).

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Dicks Sporting Goods Bids to Acquire 17 Sports Authority Stores

Investors are keenly watching Dicks Sporting Goods Inc (NYSE:DKS) today after Reuters reported that the company had submitted a bid to acquire 17 stores of Sports Authority, the bankrupt Colorado-based sports retailer.  The source added that the bids were due Thursday night, and an auction to sell the remaining assets of Sports Authority will be held next week. A bankruptcy court judge will approve the final sale of the assets. Shares of Dicks Sporting Goods have shrunk by more than 3% so far today. As of the end of the first quarter, Glenn J. Krevlin’s Glenhill Advisors owns around 3.37 million shares of Dicks Sporting Goods Inc (NYSE:DKS).

Telsey Gives Outperform Rating to GameStop

GameStop Corp. (NYSE:GME)’s stock has inched up today after the company was upgraded by Telsey Advisory Group to “Outperform” from “Market Perform.”. The firm has a price target of $35.00 for the Texas-based video game retailer. Among the funds we track, Cliff Asness’ AQR Capital Management has around 2.1 million shares of GameStop Corp. (NYSE:GME) as of the end of the first quarter.

Move over to the next page where we discuss TransCanada, Facebook and Alphabet in detail. 

TransCanada Challenges Barack Obama’s Rejection of Keystone Pipeline

TransCanada Corporation (USA) (NYSE:TRP) is in the spotlight after the company announced on Friday that it had formally requested to challenge U.S. President Barack Obama’s rejection of its Keystone XL pipeline. The Calgary-based company is seeking $15 billion in damages. TransCanada Corporation had proposed the Keystone XL to link some of the existing pipeline networks between the US and Canada to bring crude oil from Alberta and North Dakota to refineries in Illinois and Gulf of Mexico. However, in November, President Obama rejected the plan, saying that the pipeline would not make any meaningful contribution to the US economy. TransCanada Corporation is basing its claims on the North Atlantic Free Trade Agreement (NAFTA). Out of nearly 766 funds from our database, 17 funds were long in TransCanada Corporation (USA) (NYSE:TRP) at the end of the first quarter. Alec Litowitz and Ross Laser’s Magnetar Capital owns around 3.28 million shares of the company.

Facebook and YouTube Deploy New Technology to Delete Terrorists’ Videos  

Alphabet Inc (NASDAQ:GOOGL)’s YouTube and Facebook Inc (NASDAQ:FB) are trending after Reuters reported that both internet companies have “quietly” started removing video content uploaded by extremists and terrorists on their websites.  According to the report, Facebook and YouTube are using automated technology to detect and remove the banned content. The technology uses hashes and digital fingerprints to block the videos. Facebook and Google are taking this step following an increased pressure from governments around the world after major terror attacks across the US and Europe. Among the investors tracked by us, 164 funds were bullish on Facebook Inc (NASDAQ:FB) at the end of the first quarter, up from 146 funds a quarter earlier. Andreas Halvorsen’s Viking Global owns more than 20.13 million shares of the company as of the end of March. On the other hand, Alphabet Inc (NASDAQ:GOOGL)’s class A stock was in the portfolios of 155 funds in our database at the end of March.

Disclosure: None