Investors are expecting a respite from the post-Brexit saga on Tuesday as the three major indexes in the US opened over 1% in the green as crude oil and pound are also showing signs of a rebound, while gold has inched down.
Among the stocks worth watching today are Pfizer Inc. (NYSE:PFE), Horizon Pharma PLC (NASDAQ:HZNP), Mondelez International Inc (NASDAQ:MDLZ), Kraft Heinz Co (NASDAQ:KHC) and Exxon Mobil Corporation (NYSE:XOM). In this article, we discuss the factors that have put these stocks in the spotlight today and analyze how hedge funds in our database are positioned towards the companies in question.
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Pfizer To Launch New Plant in China
Pfizer Inc. (NYSE:PFE) is making headlines today after it announced on Tuesday that it is going to invest $350 million in eastern Hangzhou city of China on a biotechnology drugs facility. The investment comes when the pharmaceutical industry is going through a slowdown due to falling prices. In a press release, Pfizer said that the new plant will be completed in 2018, and it will manufacture complex medicines made from living organisms and biosimilars. Pfizer ranked among the most popular stocks in our database, with 109 funds holding around $8.6 billion worth of stock at the end of last year
.Horizon Pharma Considering Selling Equity Stake
Investors are closely watching Horizon Pharma PLC (NASDAQ:HZNP) after Reuters reported that the company had hired Bank of America to seek help regarding selling of a “significant” equity stake to an investor. The source added Horizon Pharma is looking to ramp up its capital and positioning itself for acquisitions in the future. However, it is still not clear how the company will use the proceeds from the alleged transaction. The report also quoted Horizon Capital, which said in a statement that it has no plans to do any equity transactions to add capital to its balance sheet. Stephen Mandel’s Lone Pine Capital is one of the biggest stakeholders in Horizon Pharma PLC (NASDAQ:HZNP) from our database. It had around 13.99 million shares of the company, as of the end of the first quarter. Other than that, 34 hedge funds from our data also held positions in the company at the end of the first quarter.
On the next page, we will discuss why Mondelez, Kaft Heinz and Exxon Mobil are on the radar of investors today.