It’s the middle of earnings season and several major stocks are in the news early this morning ahead of the Dow’s attempt at a 9th-consecutive winning session. Among the stocks garnering attention today are Joy Global Inc. (NYSE:JOY), Tesla Motors Inc (NASDAQ:TSLA), SolarCity Corp (NASDAQ:SCTY), Aetna Inc (NYSE:AET), and Humana Inc (NYSE:HUM). We’ll take a closer look at why each company is in the spotlight in this article and use SEC filings to determine how the world’s greatest investors are positioned in each of the five stocks.
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Joy Global Sells Itself
Joy Global Inc. (NYSE:JOY) shares are over 17% in the green in pre-market trading after Japan’s Komatsu agreed to buy the company for $3.7 billion in cash in a deal that should close by mid-2017. The buyout terms translate to $28.30 per share in cash. Joy Global shares have gone on a mostly downhill roller coaster ride due to lower global coal and energy prices, sinking by over 70% in 2015. The mining equipment company’s shares surged this year however as its financial condition turned out to be better than expected and sentiment in the commodity sector improved. Of the 766 active funds that we track, 27 funds owned $241.19 million in Joy Global Inc. (NYSE:JOY) positions on March 31, up from 24 funds with $228.80 million in holdings on December 31.
Insurers Still Want to Merge
According to CNBC, Aetna Inc (NYSE:AET) and Humana Inc (NYSE:HUM) are still in negotiations with the Department of Justice over their proposed merger. Some traders fear that the DOJ, which is expected to release its stance on the proposed merger over the next few days, will not approve the deal due to anti-competition concerns.
If the DOJ gives the thumbs down to the merger, the two insurers are reportedly prepared to argue their case in the courts in an effort to get the deal approved. However, by negotiating with the DOJ, there is the probability that the government and the insurers will find some middle ground to get the deal approved if the insurers make enough concessions. Larry Robbins‘ Glenview Capital was a major shareholder of both Aetna Inc (NYSE:AET) and Humana Inc (NYSE:HUM at the end of March.
On the next page we examine Elon Musk’s master plan involving SolarCity and Tesla.