All three major indexes are lower this morning after today’s jobless claims report. Although the report was better than the mid-point of analysts’ expectations, the report wasn’t good enough to prevent some traders from taking profits off the table, as the S&P and Dow near all-time highs. Among the stocks in the spotlight today are PepsiCo, Inc. (NYSE:PEP), LendingClub Corp (NYSE:LC), Vodafone Group Plc (ADR) (NASDAQ:VOD), United Continental Holdings Inc (NYSE:UAL), and Tempur Sealy International Inc (NYSE:TPX). In this article we’ll report on why these stocks are in the news and see how the elite funds that are tracked by Insider Monkey are positioned in them.
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PepsiCo Tries To Amp Up Diet Pepsi Sales
According to the Wall Street Journal, PepsiCo, Inc. (NYSE:PEP) is considering making changes to its flagship Diet Pepsi drink. Sales of the diet brand fell by 12% year-over-year in the United States over the last 12 weeks ended in mid-May and it seems that Pepsi’s previous adjustment of introducing aspartame-free Diet Pepsi was not enough to cut the bleeding. One of the changes PepsiCo is considering is finding a way to bring back aspartame in certain versions of Diet Pepsi. Ken Fisher‘s Fisher Asset Management was a major shareholder of PepsiCo, Inc. (NYSE:PEP) at the end of May.
LendingClub Suffers Website Outage
LendingClub Corp (NYSE:LC)‘s website was down briefly on Wednesday after the company ran into some problems with its data center operations. Fortunately the online peer-to-peer lender’s website is now back. Shares of the company are down by 1.3% this morning and have fallen sharply this year after its former CEO Renaud Laplanche resigned due to an internal probe over loan disclosures. Of the 766 elite funds that we track, 23 of them owned $358.84 million in LendingClub Corp (NYSE:LC) shares on March 31, versus 18 funds with $348.04 million in holdings on December 31.
On the next page we check in on Vodafone Group Plc (ADR), United Continental Holdings, and Tempur Sealy, and see why they’re trending this morning.