SunGard's hottest stocks
02 July 2015 Global
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SunGard’s Astec Analytics has compiled the hottest stocks from around the globe for the week beginning 22 June 2015.
In the Europe, Middle East and Africa region, Astec has chosen French telecoms firm Alcatel-Lucent (ALU.PA) as its hottest stock after it emerged US hedge fund Elliot has built up its exposure to Alcatel's shares using swap contracts, the equivalent of a 1.3 percent stake in the company, ahead of its €15.6 billion sale to Nokia.
While its stock has seen somewhat mixed trade in the cash market over the past few weeks, data from Astec has suggested short sellers have been covering their positions over the same period with borrowing volumes falling 22 percent since the start of June.
Transocean (RIG) has once again made it into Astec’s list after it provided its latest fleet update, which showed the total value of new contracts since its last report was $109 million.
In the cash market, Transocean's share price has been steadily declining since mid-May, while data from Astec has shown short sellers using the opportunity to cover positions for most of this time.
In the Americas, US pharmaceutical firm Eli Lilly & Co (LLY) has been singled out after news it will be expanding its alliance with Britain's Immunocore; the two firms teaming up in hopes of developing the next generation of cancer drugs.
With its share price having climbed 12 percent in early June, and having seen some more mixed trade the past two weeks, Astec's figures suggest short sellers have been covering their positions with borrowing volumes down 19 percent during the week.
Also in the Americas, fitness technology firm Fitbit (FIT) has made its debut on Astec’s list, after undertaking its highly-anticipated IPO and seeing the first full week of securities lending activity.
Astec commented: “Our data suggests demand to borrow the stock has been strong in early sessions though, as is often the case, this has slackened somewhat as trading sessions moved on—the cost of borrowing the stock halving from more than 20 percent during the first day to about 10 percent now, while the number of shares being borrowed has levelled out following the initial jump.”
In the Asia Pacific region, Australian law firm Slater & Gordon (SGH.AX) has seen focus after a number of big name banks cut their respective price targets on the company's shares, while its stock lost almost a quarter of its value after it revealed errors in its financial reporting, saying the country's regulators will be launching a probe.
Astec's data has suggested some short sellers have been building positions for the past two weeks, in which time borrowing volumes have climbed 14 percent.
Finally, Taiwanese manufacturing firm Catcher Company (2474.TAI) continued to see news of its expansion plans for H2 2015 dominating—its share price managing to climb almost 8 percent during the week.
From a short selling perspective, Astec's data has hinted at growing interest on the back of these stock gains, with the number of Catcher shares being borrowed climbing 35 percent during the week.
In the Europe, Middle East and Africa region, Astec has chosen French telecoms firm Alcatel-Lucent (ALU.PA) as its hottest stock after it emerged US hedge fund Elliot has built up its exposure to Alcatel's shares using swap contracts, the equivalent of a 1.3 percent stake in the company, ahead of its €15.6 billion sale to Nokia.
While its stock has seen somewhat mixed trade in the cash market over the past few weeks, data from Astec has suggested short sellers have been covering their positions over the same period with borrowing volumes falling 22 percent since the start of June.
Transocean (RIG) has once again made it into Astec’s list after it provided its latest fleet update, which showed the total value of new contracts since its last report was $109 million.
In the cash market, Transocean's share price has been steadily declining since mid-May, while data from Astec has shown short sellers using the opportunity to cover positions for most of this time.
In the Americas, US pharmaceutical firm Eli Lilly & Co (LLY) has been singled out after news it will be expanding its alliance with Britain's Immunocore; the two firms teaming up in hopes of developing the next generation of cancer drugs.
With its share price having climbed 12 percent in early June, and having seen some more mixed trade the past two weeks, Astec's figures suggest short sellers have been covering their positions with borrowing volumes down 19 percent during the week.
Also in the Americas, fitness technology firm Fitbit (FIT) has made its debut on Astec’s list, after undertaking its highly-anticipated IPO and seeing the first full week of securities lending activity.
Astec commented: “Our data suggests demand to borrow the stock has been strong in early sessions though, as is often the case, this has slackened somewhat as trading sessions moved on—the cost of borrowing the stock halving from more than 20 percent during the first day to about 10 percent now, while the number of shares being borrowed has levelled out following the initial jump.”
In the Asia Pacific region, Australian law firm Slater & Gordon (SGH.AX) has seen focus after a number of big name banks cut their respective price targets on the company's shares, while its stock lost almost a quarter of its value after it revealed errors in its financial reporting, saying the country's regulators will be launching a probe.
Astec's data has suggested some short sellers have been building positions for the past two weeks, in which time borrowing volumes have climbed 14 percent.
Finally, Taiwanese manufacturing firm Catcher Company (2474.TAI) continued to see news of its expansion plans for H2 2015 dominating—its share price managing to climb almost 8 percent during the week.
From a short selling perspective, Astec's data has hinted at growing interest on the back of these stock gains, with the number of Catcher shares being borrowed climbing 35 percent during the week.
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