10 hottest stocks to watch on Wednesday

In this article, we will discuss some of the most popular stocks trending today. To take a look at other actions that are making the news, go to 5 hottest stocks to watch on Wednesday.

The US stock market is in the green today as investors soak up earnings results from some notable companies. The S&P 500 Index, Dow 30 Index and NASDAQ Composite Index are all up 0.67%, 0.51% and 1.52%, respectively, as of 11:47 a.m. ET. The indices should close positively for the first time this week. Some of the popular movers of the day are PayPal Holdings, Inc. (NASDAQ:PYPL), JPMorgan Chase & Co. (NYSE:JPM), and NVIDIA Corporation (NASDAQ:NVDA).

Let’s see why these stocks are making headlines today and how elite funds are positioned in them.

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10. Delta Air Lines, Inc. (NYSE: DAL) is up 4.8% at 11:47 a.m. ET after the company reported strong first-quarter 2022 results due to increased bookings and pricing, countering the negative impact of higher oil prices. fuel. Revenue for the three months rose 159% year-over-year to $9.35 billion and beat consensus estimates of $8.99 billion. Meanwhile, the adjusted loss per share was posted at $1.23, four cents lower than analyst estimates of $1.27.

Delta Air Lines, Inc. (NYSE:DAL) expects double-digit revenue growth in the second quarter of 2022 compared to 2019. Additionally, the company expects total revenue to recover up to 97% of sales generated three years before the pandemic. To ensure this, Delta Air Lines, Inc. (NYSE: DAL) aims to operate at 84% capacity in 2019.

Of the 924 hedge funds in Insider Monkey’s database, 47 funds reported holding a stake in Delta Air Lines, Inc. (NYSE:DAL), with a combined value of nearly $1.15 billion in the fourth quarter 2021.

9. Antares Pharma, Inc. (NASDAQ: ATRS) climbed 49.2% at 11:52 a.m. ET after news broke that the New Jersey-based company had been acquired by Halozyme Therapeutics, Inc. (NASDAQ: HALO) for $960 million. This translates to a per-share valuation of $5.60, representing a nearly 50% premium to the last closing price. In March 2022, Antares Pharma, Inc. (NASDAQ: ATRS) received full FDA approval for its oral testosterone replacement therapy, TLANDO. The transaction is expected to close in the first half of this year.

In Q4 2021, Antares Pharma, Inc. (NASDAQ: ATRS) was part of the portfolio of 12 hedge funds. Rubric Capital Management owned more than 10.8 million shares of Antares Pharma, Inc. (NASDAQ: ATRS) during the fourth quarter.

8. Sierra Oncology, Inc. (NASDAQ: SRRA) is 38.5% in the green as of 11:48 a.m. ET after GlaxoSmithKline plc (NYSE:GSK) announced it would acquire Sierra Oncology, Inc. (NASDAQ:SRRA) for $1.9 billion in cash to strengthen its oncology division. Pursuant to the agreement, the outstanding shares of Sierra Oncology, Inc. (NASDAQ: SRRA) will be canceled and, in return, shareholders will be entitled to receive $55 per share. The price per share represents a premium of more than 39% over the last closing price. The lead drug in Sierra Oncology’s portfolio is momelotinib for the treatment of myelofibrosis, a form of bone marrow cancer. The deal is expected to be finalized by the third quarter of 2022.

In Q4 2021, 15 hedge funds reported ownership of Sierra Oncology, Inc. (NASDAQ: SRRA). Vivo Capital was the lead investor in Sierra Oncology, Inc. (NASDAQ: SRRA), with a stake of over $41 million.

7.PVH Corp. (NYSE: PVH) rose 6.1% at 11:48 a.m. ET following the New York-based fashion retailer’s announcement that it expects high-single-digit compound annual revenue growth in the future. PVH Corp. (NYSE: PVH) also said it expects revenue to reach approximately $12.4 billion by 2025. Analysts forecast was $10.34 billion before the announcement. PVH Corp. (NYSE: PVH) expects to achieve this by achieving high-single-digit growth in the US and European business, mid-teens in the Asia-Pacific region and a CAGR above 20% in the e-commerce channel.

Of the 924 hedge funds in Insider Monkey’s database, PVH Corp. (NYSE: PVH) was held by 38 funds in Q4 2021.

6. Twitter, Inc. (NASDAQ: TWTR) edged up 2.65% at 11:49 a.m. ET after an investor sued Tesla, Inc. (NASDAQ: TSLA) CEO Elon Musk for delaying disclosure of a 5% stake in the social media company. Marc Bain Rasella has filed a lawsuit in Manhattan court alleging that Musk committed securities fraud by not disclosing his stake in Twitter, Inc. (NASDAQ: TWTR). This kept the stock price depressed and allowed Musk to rack up more shares and increase his stake to over 9.2%.

According to the filing with the SEC, Musk reached the 5% level on March 14 and could have disclosed his stake within 10 days by March 24 via a 13-D filing. Instead, he decided to further increase his stake and disclose his total holdings in Twitter, Inc. (NASDAQ: TWTR) on April 4.

On a sequential basis, the number of hedge funds invested in Twitter, Inc. (NASDAQ: TWTR) decreased from 11 to 83 funds in the fourth quarter of 2021.

In addition to Twitter, Inc. (NASDAQ: TWTR), popular stocks such as PayPal Holdings, Inc. (NASDAQ: PYPL), JPMorgan Chase & Co. (NYSE: JPM), and NVIDIA Corporation (NASDAQ: NVDA) are trending today.

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Disclose. Nothing. 10 hottest stocks to watch on Wednesday is originally published on Insider Monkey.

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