In this article we will take a look at the some of notable stocks that moved today. You can skip our detailed analysis of these stocks and go to read Why These 5 Stocks Moved on Wednesday.
Some stocks that moved on Wednesday include Activision Blizzard, Inc. (NASDAQ:ATVI), Lyft, Inc. (NASDAQ:LYFT), FMC Corporation (NYSE:FMC), Centene Corporation (NYSE:CNC), Akamai Technologies, Inc. (NASDAQ:AKAM), T-Mobile US, Inc. (NASDAQ:TMUS), and Zillow Group, Inc. (NASDAQ:Z). Let’s find out why each stock moved today and how elite funds were positioned among them.
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10. FMC Corporation (NYSE:FMC) rose 12.6% after the company reported adjusted EPS of $1.43 for the third quarter, beating the average estimate by $0.11 per share. Sales for the period were $1.19 billion, up 10.2% year over year, and $20 million ahead of the consensus. For Q4, FMC Corporation (NYSE:FMC) sees EPS of $1.80 to $2.20 versus the consensus of $2.09. Glenview Capital was long 872,557 shares of FMC Corporation (NYSE:FMC) at the end of June.
9. Centene Corporation (NYSE:CNC) rallied by over 6.5% after the Wall Street Journal reported Politan Capital Management LP, run by activist investor Quentin Koffey, has taken an around $900 million stake in the company. Centene Corporation (NYSE:CNC) also agreed to sell a majority stake in U.S. Medical Management, LLC to Rubicon Founders; Valtruis, a WCAS company; Oak HC/FT; and HLM Venture Partners.. Viking Global owned 11,199,941 shares of Centene Corporation (NYSE:CNC) at the end of Q2.
8. Akamai Technologies, Inc. (NASDAQ:AKAM) rallied by more than 5.4% after reporting adjusted EPS of $1.45 for Q3 versus the consensus of $1.39. Sales of $860 million for the period was also ahead of the estimate of $851.5 million. Akamai Technologies, Inc. (NASDAQ:AKAM)’s board also authorized an additional up to $1.8 billion share repurchase program. AQR Capital Management was among the funds in our database with a position in Akamai Technologies, Inc. (NASDAQ:AKAM) at the end of Q2.
7. T-Mobile US, Inc. (NASDAQ:TMUS) surged by 5.3% after the company reported Q3 EPS of $0.55 versus the consensus of $0.52. Although the company’s sales of $19..62 billion was a little under the average estimate of $20.18 billion, net customer additions were still 1.3 million for Q3. Despite today’s rally, shares of T-Mobile US, Inc. (NASDAQ:TMUS) are down 7.9% year to date. Warren Buffett’s Berkshire Hathaway owned 5,242,000 shares of T-Mobile US, Inc. (NASDAQ:TMUS) at the end of Q2.
6. Zillow Group, Inc. (NASDAQ:Z) fell 22.95% after the company said it was ending its home flipping business. Zillow will also be taking writedowns and cutting its workforce by 25%. Ygal Unitarian of Wedbush said of Zillow Group, Inc. (NASDAQ:Z)’s decision, “It’s a drastic and unexpected move. It was a central part of what the company was built on over the past three years, and management needs to go back to the drawing board and fill in the gap as it continues to aim to be a bigger part of the overall real estate transaction.”
Catherine D. Wood‘s ARK Investment Management was long over 10.1 million shares of Zillow Group, Inc. (NASDAQ:Z) at the end of June.
Like FMC Corporation (NYSE:FMC), Centene Corporation (NYSE:CNC), Akamai Technologies, Inc. (NASDAQ:AKAM), T-Mobile US, Inc. (NASDAQ:TMUS), and Zillow Group, Inc. (NASDAQ:Z), Activision Blizzard, Inc. (NASDAQ:ATVI) and Lyft, Inc. (NASDAQ:LYFT) also moved on Wednesday.
Click to continue reading and see Why These 5 Stocks Moved on Wednesday.
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Disclosure: None. Why These 10 Stocks Moved on Wednesday is originally published on Insider Monkey.
