Trending Stocks: Second Sight, Energy Transfer Partners, Twitter, and More

Yelp Inc (NYSE:YELP) is in the red this afternoon after the Roth Capital analyst Darren Aftahi trimmed his price target on the stock to $27 from $29 and maintained his ‘Sell’ rating. Aftahi thinks Facebook Inc (NASDAQ:FB)’s recent moves to expand its local features could mean trouble for Yelp and make the stock less attractive as an acquisition target. However, the analyst does conced that Yelp could continue its streak of out-performance in the third quarter. The smart money was pretty bullish on Yelp in the second quarter. According to our data, the number of funds with holdings in Yelp Inc (NYSE:YELP) rose by 12 quarter-over-quarter to 45 at the end of June.

Alphabet Inc (NASDAQ:GOOG) is trending after the research firm IHS Markit reported that the new Google Pixel XL phone’s manufacturing costs are relatively in-line with those of rivals. According to IHS, the total bill of material costs for the Pixel XL with 32 GB of memory costs $278. Throw in another $7.75 in manufacturing costs, and the total cost to make a Pixel XL is around $285.75. Given the Pixel’s un-subsidized face prize of $769, Alphabet’s gross margins are comparable with that of the iPhone 7 plus and Galaxy S7 Edge. If the Pixel becomes a hit, Alphabet’s profits could jump substantially. Alphabet Inc (NASDAQ:GOOG) was a hedge fund favorite on June 30, as 126 top funds owned class C shares of Alphabet Inc (NASDAQ:GOOG).

Last but not least, Energy Transfer Partners LP (NYSE:ETP) is in the spotlight after the midstream giant agreed to buy certain interests in PennTex Midstream Partners, LP from various parties for around $640 million, with 50% paid in cash and 50% paid in common units. Upon closing of the deal, Energy Transfer Partners will own 100% of the general partner of PennTex Midstream Partners, together with its IDRs, as well as 6.3 million common units and 20 million subordinated units of PennTex Midstream Partners. David Tepper‘s Appaloosa Management LP established a new position of 11.41 million shares of Energy Transfer Partners LP (NYSE:ETP). in the second quarter.

Disclosure: none