BALTIMORE (Stockpickr) -- Put down the 10-K filings and the stock screeners. It's time to take a break from the traditional methods of generating investment ideas. Instead, let the crowd do it for you.
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From hedge funds to individual investors, scores of market participants are turning to social media to figure out which stocks are worth watching. It's a concept that's known as "crowdsourcing," and it uses the masses to identify emerging trends in the market.
Crowdsourcing has long been a popular tool for the advertising industry, but it also makes a lot of sense as an investment tool. After all, the market is completely driven by the supply and demand, so it can be valuable to see what names are trending among the crowd.
While some fund managers are already trying to leverage social media resources like Twitter to find algorithmic trading opportunities, for most investors, crowdsourcing works best as a starting point for investors who want a starting point in their analysis. Today, we'll leverage the power of the crowd to take a look at some of the most active stocks on the market today.
Without further ado, here's a look at today's stocks.
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Nearest Resistance: $69
Nearest Support: $66
Catalyst: Activist Breakup Push
Chemical giant DuPont (DD) is up more than 4.5% this afternoon, boosted by upside speculation following a push from activist investor Nelson Peltz to break apart the company after sluggish returns. Peltz's Trian Fund Management thinks that DuPont's agriculture and health businesses should be spun off from the rest of the business, in a move that would release value back to shareholders.
Mr. Market likes the plan. While DuPont has been trading in a well-defined downtrend since the start of June, today's big gap higher broke the bearish price action. From here, DD is set for a retest of prior 2014 highs at $69. It makes sense to wait for that level to get taken out.
Nearest Resistance: N/A
Nearest Support: $155
Catalyst: Q1 2015 Earnings
FedEx (FDX) is up more than 3% this afternoon, boosted by positive earnings news for its fiscal first quarter of 2015. FedEx earned profits of $2.10 per share for the quarter, beating analysts' $1.96 best guess, as the firm noted that its buyback program added 15 cents of earnings to every share of the shipping stock. The firm sees full year EPS in the $8.50 to $9 range, a target that comes in line with Wall Street's $8.83 per share estimates. FDX is hitting new highs on the move today.
Making new highs is significant from an investor psychology standpoint because it means that everyone who has bought shares in the last year is sitting on gains. As a result, the "back to even" mentality is less of a concern than it would be for a name with a higher proportion of shareholders sitting on losses. For traders who aren't risk-averse, there's still time to build a position in FedEx now, just keep a tight protective stop in place.
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Nearest Resistance: $53.50
Nearest Support: $50
Catalyst: Q1 2015 Earnings
$31 billion food maker General Mills (GIS) is down more than 3.6% this afternoon, following the firm's first quarter earnings call for fiscal 2015. GIS earned profits of 61 cents per share for the quarter, missing analysts' 69-cent consensus estimate. Slipping margins and worse than expected sales overcame the fact that management reiterated their earnings projections for the quarter ahead.
Technically speaking, GIS is in trouble. While today's drop is ugly, it's this stock's longer-term descending triangle setup that spells bigger trouble for shareholders this month. If shares violate support at $50, GIS is a sell.
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Glimcher Realty Trust
Nearest Resistance: $14
Nearest Support: $13.60
Shares of Glimcher Realty Trust (GRT) are seeing a second day of big volume, following Tuesday's news that Washington Prime Group (WPG) was buying GRT in a deal valued at $4.3 billion when it was announced. GRT shareholders get $10.40 in cash, plus 0.1989 shares of WPG for each share of GRT they own. That was enough to spike shares more than 32% before the open yesterday, but if you missed this trade, the money has already been made here. There's currently a barely-there 0.71% merger arbitrage premium left in the deal.
To see these stocks in action, check out the at Most-Active Stocks portfolio on Stockpickr.
-- Written by Jonas Elmerraji in Baltimore.