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Why Amazon, Starbucks and Three Other Stocks Are Trending Today

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It’s a good day to be a bull on Wall Street as the Dow has officially broken through an all-time close high, and the S&P is in record territory too.

Among the newsworthy stocks amid the positive backdrop are Amazon.com, Inc. (NASDAQ:AMZN), Starbucks Corporation (NASDAQ:SBUX), SAGE Therapeutics Inc (NASDAQ:SAGE), Xerox Corp (NYSE:XRX), and RR Donnelley & Sons Co (NASDAQ:RRD). Let’s take a closer look at each company and see what the investors from our database think about them.

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Amazon.com, Inc. (NASDAQ:AMZN), boxes, packages,isolated, delivery, shipping,

Joe Ravi / Shutterstock.com

It’s Prime Day

Amazon.com, Inc. (NASDAQ:AMZN) sales will likely increase substantially today as it is Amazon Prime Day. For the second consecutive year, tens of thousands of items on Amazon’s website can be bought at discounted prices for Amazon Prime members, and Amazon will likely benefit given the increase in spending. Partly due to the deals to be had on Prime day, analysts estimate that 63 million consumers are currently actively enrolled in Prime, up by 19 million from Prime Day in 2015. Of the 766 elite funds we track, 133 funds owned $14.7 billion worth of Amazon.com, Inc. (NASDAQ:AMZN)’s stock, which accounted for 5.30% of the float on March 31, versus 141 funds and $17.32 billion, respectively, on December 31.

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Certain Types of Coffee to Cost More  

Starbucks Corporation (NASDAQ:SBUX) shares are up by 0.80% as the chain is expected to raise the price of certain sizes/types of brewed coffee by 10 to 20 cents a cup in the U.S. stores starting today. The price increases will help Starbucks increase its margins and deliver better returns to shareholders. Shares of the company have been range-bound of late, falling by 5.5% year-to-date. Hedge fund optimism in the coffee name has also waned. According to our data, 52 funds had a bullish position in Starbucks Corporation (NASDAQ:SBUX) at the end of March, down by nine funds from the previous quarter. Hopefully the price increases can improve sentiment around the stock.

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On the next page, we take a closer look at SAGE Therapeutics, Xerox Corp, and RR Donnelley & Sons Co. 

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