Why These 10 Stocks Are Trending on Wednesday

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In this article we will take a look at the some of notable stocks trending today. You can skip our detailed analysis of these stocks and go to read Why These 5 Stocks Are Trending on Wednesday.

It's earnings season and the markets are relatively quiet with the Dow Jones down 0.36%, the S&P 500 relatively unchanged, and the NASDAQ 100 up 0.68%. Some companies trending today include General Motors Company (NYSE:GM), The Boeing Company (NYSE:BA), Advanced Micro Devices, Inc. (NASDAQ:AMD), Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), Twitter, Inc. (NYSE:TWTR), and Visa Inc. (NYSE:V). Let's examine why each stock is in the spotlight and how elite funds were positioned among them.

Why do we care about hedge fund activity? Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 86 percentage points since March 2017. Between March 2017 and July 2021 our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by 86 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

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10. Advanced Micro Devices, Inc. (NASDAQ:AMD) is in the spotlight after the company's third quarter results exceeded the consensus. For the period, Advanced Micro Devices, Inc. (NASDAQ:AMD)'s EPS excluding items was $0.73 versus the consensus of $0.67 and the company's revenue was $4.31 billion versus the consensus of $4.12 billion. Advanced Micro Devices, Inc. (NASDAQ:AMD) shares are up 35% year to date. Ken Fisher's Fisher Asset Management owned more than 15.7 million shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) at the end of September.

9. Microsoft Corporation (NASDAQ:MSFT) has surged 4% after the company's top and bottom line beat estimates for its fiscal first quarter. For the period, Microsoft Corporation (NASDAQ:MSFT) earned an adjusted $2.27 per share on revenues of $45.32 billion, versus estimates of $2.07 per share for profit and $43.97 billion for sales. For the fiscal second quarter, Microsoft Corporation (NASDAQ:MSFT) expects sales of $50.15-$51.05 billion. Microsoft Corporation (NASDAQ:MSFT) was one of the most widely held stocks among elite funds in our database at the end of June.

8. Alphabet Inc. (NASDAQ:GOOG) rose by more than 4.8% after Alphabet Inc. (NASDAQ:GOOG) reported EPS of $27.99 for the third quarter versus the consensus of $23.48. Sales for Alphabet Inc. (NASDAQ:GOOG) were also ahead of estimates at $65.12 billion versus the consensus of $63.34 billion. YouTube advertising revenue for the period was $7.2 billion and Google cloud sales were $4.99 billion. Alphabet Inc. (NASDAQ:GOOG) was among the most widely held stocks among the funds in our database at the end of June.

7. Twitter, Inc. (NYSE:TWTR) has fallen 9.4% after the company reported third quarter sales of $1.28 billion and Q4 revenue outlook of $1.5 billion to $1.6 billion. Although Twitter's sales for Q3 were in-line with the consensus, Twitter, Inc. (NYSE:TWTR)'s fourth quarter outlook may have been softer than some estimates. Catherine D. Wood's ARK Investment Management owned more than 12.4 million shares of Twitter, Inc. (NYSE:TWTR).

6. Visa Inc. (NYSE:V) declined 5.5% due to disappointing outlook. Although Visa Inc. (NYSE:V) earned an adjusted $1.62 per share on sales of $6.56 billion for the fiscal fourth quarter versus estimates of $1.54 per share and $6.53 billion, Visa's outlook may have been weaker than some estimates. For the fiscal first quarter, Visa expects net sales growth in the higher teens percentage range. Warren Buffett's Berkshire Hathaway owned 9,987,460 shares of Visa Inc. (NYSE:V) at the end of June.

Like Advanced Micro Devices, Inc. (NASDAQ:AMD), Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), Twitter, Inc. (NYSE:TWTR), and Visa Inc. (NYSE:V), General Motors Company (NYSE:GM) and The Boeing Company (NYSE:BA) are also trending.

Click to continue reading and see Why These 5 Stocks Are Trending on Wednesday.

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Disclosure: None. Why These 10 Stocks Are Trending on Wednesday is originally published on Insider Monkey.

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