Home Depot, Alphabet, Twitter Among the Hottest Stocks Today

Google Launches Carpooling Service in the Bay Area

Alphabet Inc (NASDAQ:GOOGL) is 0.27% in the red today after Waze, the Google-owned ride-sharing app, announced a ride-sharing pilot program in the San Francisco Bay Area for 25,000 employees who work near Google’s offices there. The app puts the company in direct competition with the highly-successful Uber and Lyft. If successful, Google’s carpooling service could also play a key role in the scalability of its self-driving car project. As of March 31, Ken Fisher’s Fisher Asset Management holds 973,292 class A shares of Alphabet Inc (NASDAQ:GOOGL).

Corvex Management Presses Pandora Media for Sale

Shares of Pandora Media Inc (NYSE:P) have soared by more than 6% today after Keith Meister’s Corvex Management disclosed increased ownership of 9.9% in the company and pressed the California-based media company to pursue a sale in a letter sent to its board of directors. The letter said that Pandora hasn’t been able to boost returns for shareholders, despite having a great product. Corvex also said that it has become “increasingly concerned” about Pandora’s costly and uncertain business plan. The letter said that potential buyers of Pandora could include large internet companies, handset makers and media companies.

Ricky Sandler’s Eminence Capital is one of the biggest shareholders of Pandora Media Inc (NYSE:P) as of March 31, with ownership of more than 14 million shares of the company.

Twitter May Relax 140-Character Limit

Twitter Inc (NYSE:TWTR)’s stock has gained 1.61% after a report from Bloomberg claimed that the social media company is considering relaxing its 140-character limit on tweets. The report cited unidentified sources as saying that Twitter will stop counting photos and links in its tweets to relax the character limit. The change will take place within the next two weeks, according to the source.

Out of the 786 hedge funds tracked by Insider Monkey, 30 funds had long positions in Twitter Inc (NYSE:TWTR) at the end of the fourth quarter of 2015. More recently, Tsachy Mishal’s TAM Capital Management owned 501,800 shares of the company on March 31.

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