SunGard’s hottest stocks
24 June 2015 London
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SunGard’s top short pick for Europe, the Middle East and Africa region for the week beginning 22 June is UK confectioner Thorntons (THT.L), after Italian chocolatier Ferrero made a £112 million takeover bid for the company, sending its share price surging more than 40 percent.
Astec Analytics data suggests that short sellers have been growing more optimistic for Thorntons since the beginning of June, with the number of shares being borrowed falling 11 percent.
Elsewhere in the Europe, Middle East and Africa region, CNH Industrial (CNHI) recently reshuffled some of its most senior staff. Mild short covering has taken place over the past two weeks, according to Astec Analytics, with the number of shares borrowed falling 6 percent.
In the US, Apple (AAPL) is SunGard’s top pick, after its new music streaming service came under criticism from artist Taylor Swift, who blasted the tech company’s plans to not pay artists for their music during the first three months of its new service’s operation, so that it could attract users.
June has generally seen Apple shares sliding lower in the cash market, although Astec Analytics data suggests that this has also been bringing with it some short covering, with borrowing volumes recently falling 8 percent.
Also in the US, pharmaceutical company MannKind Corporation (MNKD) saw its cost of borrowing plummet recently as some lenders were able to make higher volumes of shares available to borrow, in order to meet the continued strong demand from short sellers.
Astec Analytics data shows that having peaked at more than 110 percent, the average cost to borrow MNKD stock has now fallen below the 30 percent mark, even as the actual number of shares being borrowed has climbed about 9 percent in that same time.
Finally, in the Asia Pacific region, Hong Kong-listed luggage maker Samsonite International (1910.HK) is SunGard’s top pick, following news that its outlook in China has improved dramatically due to a switch of focus to cheaper products.
Despite this, and some positive earning numbers earlier this year, Astec Analytics data hints at growing short selling activity in Samsonite during June, in which time borrowing volumes have doubled.
Astec Analytics data suggests that short sellers have been growing more optimistic for Thorntons since the beginning of June, with the number of shares being borrowed falling 11 percent.
Elsewhere in the Europe, Middle East and Africa region, CNH Industrial (CNHI) recently reshuffled some of its most senior staff. Mild short covering has taken place over the past two weeks, according to Astec Analytics, with the number of shares borrowed falling 6 percent.
In the US, Apple (AAPL) is SunGard’s top pick, after its new music streaming service came under criticism from artist Taylor Swift, who blasted the tech company’s plans to not pay artists for their music during the first three months of its new service’s operation, so that it could attract users.
June has generally seen Apple shares sliding lower in the cash market, although Astec Analytics data suggests that this has also been bringing with it some short covering, with borrowing volumes recently falling 8 percent.
Also in the US, pharmaceutical company MannKind Corporation (MNKD) saw its cost of borrowing plummet recently as some lenders were able to make higher volumes of shares available to borrow, in order to meet the continued strong demand from short sellers.
Astec Analytics data shows that having peaked at more than 110 percent, the average cost to borrow MNKD stock has now fallen below the 30 percent mark, even as the actual number of shares being borrowed has climbed about 9 percent in that same time.
Finally, in the Asia Pacific region, Hong Kong-listed luggage maker Samsonite International (1910.HK) is SunGard’s top pick, following news that its outlook in China has improved dramatically due to a switch of focus to cheaper products.
Despite this, and some positive earning numbers earlier this year, Astec Analytics data hints at growing short selling activity in Samsonite during June, in which time borrowing volumes have doubled.
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