Why These 5 Stocks Trended This Week

In this article we take a look at five stocks that trended this week. If you want to read our detailed analysis of these stocks, go to read Why These 10 Stocks Trended This Week.

5. Walmart Inc. (NYSE:WMT) declined 3.6% this week despite the company exceeding third quarter earnings and sales estimates. Although the company earned $1.45 per share versus the consensus of $1.4 per share for the period, the market might have expected something more. Walmart is in tough competition with Amazon over the future of e-commerce. Bill & Melinda Gates Foundation Trust owned 6,921,739 shares of Walmart Inc. (NYSE:WMT) at the end of September.

4. NIKE, Inc. (NYSE:NKE) trended this week after the company increased its quarterly dividend by 11% to 30.5 cents per share. As a result of the increase, NIKE, Inc. (NYSE:NKE) has raised its dividend for 20 consecutive years. NIKE, Inc. (NYSE:NKE) shares are up almost 25% year to date. Renaissance Technologies was long 3,583,700 shares of NIKE, Inc. (NYSE:NKE) at the end of Q3.

3. Zendesk, Inc. (NYSE:ZEN) was in the spotlight this week after the company held its analyst day on Thursday. Although the company provided more data, some analysts still thought Zendesk, Inc. (NYSE:ZEN) a ‘show-me’ story where the company still needed to prove it could grow earnings as the market expects. Polar Capital was among the elite fund holders of Zendesk, Inc. (NYSE:ZEN) at the end of September.

2. American Tower Corporation (NYSE:AMT) trended this week after the company agreed to buy CoreSite Realty Corporation (NYSE:COR) for around $10.1 billion. American Tower Corporation (NYSE:AMT) said of the purchase, “We expect the combination of our leading global distributed real estate portfolio and CoreSite’s high quality, interconnection-focused data center business to help position American Tower to lead in the 5G world.” Akre Capital Management owned 7,007,787 shares of American Tower Corporation (NYSE:AMT) at the end of Q3.

1. CoreSite Realty Corporation (NYSE:COR) rose 2.9% this week given the company agreed to sell to American Tower Corporation (NYSE:AMT) for $170 in cash per share. With this week’s increase, CoreSite Realty Corporation (NYSE:COR) has rallied 36.8% year to date. Citadel Investment Group owned 375,083 shares of CoreSite Realty Corporation (NYSE:COR) at the end of September.

Disclosure: None.