Why Descartes Systems Group Inc. (USA) (DSGX), AmeriGas Partners LP (APU), and Three Other Stocks Are in Spotlight Today

The broad market is trading lower today amid news about the resignation of Wells Fargo CEO John Stumpf, who has been replaced by Tim Sloan. Markets are also reacting to mixed third-quarter results posted by by Delta Air Lines.

Apart from these news, the stock market is also affected by a number of trending stocks, among which are Descartes Systems Group Inc. (USA) (NASDAQ:DSGX), AmeriGas Partners LP (NYSE:APU), Royal Bank of Scotland Group PLC (NYSE:RBS), PICO Holdings Inc. (NASDAQ:PICO), and Imperva Inc. (NYSE:IMPV). Let’s take a closer

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Descartes Systems Group Inc. (USA) (NASDAQ:DSGX) stock has ticked higher following the announcement about its acquisition of Appterra, which provides cloud based B2B supply chain integration solutions. The deal involves an upfront payment of $5.8 million along with potential performance-based consideration, subject to the maximum of $1.6 million. Among the funds we track, four funds held $24.60 million worth of Descartes Systems Group’s stock at the end of June, having amassed 1.70% of its outstanding stock, compared to six investors that had owned $35 million worth of shares a quarter earlier.

AmeriGas Partners LP (NYSE:APU) stock is upbeat as the company announced its earnings forecast for fiscal 2016 and 2017. For the current fiscal year, the company expects a net income of $205 million while adjusted EBITDA is likely to be at $540 million, down from the previous estimate of $575-$600 million. The fall is primarily due to increase in reserves for litigation and general liability. For fiscal 2017, AmeriGas Partners expects the adjusted EBITDA to be in the range of $660 million to $700 million. The number of funds from our database long AmeriGas Partners declined to five from seven during the second quarter, while the total value of their holdings fell to $3.88 million from $5.28 million.

On the next page, we are going to discuss the other three stocks that are trending on Thursday.