Why Apple, Microsoft, Corning, Ariad, and More Are in the Spotlight

Corning Incorporated (NYSE:GLW) is 0.6% in the green today after Susquehanna bumped up its price target on the stock to $27 per share from $25. The firm raised its target due to channel checks that show demand for larger screen/thinner TVs potentially being stronger-than-expected, an event that would increase Corning’s glass demand. Corning has already had a great year, rising by over 30% year-to-date. The number of funds in our system with holdings in Corning Incorporated (NYSE:GLW) rose by one during the second quarter to 32 at the end of June.

According to Bloomberg, Microsoft Corporation (NASDAQ:MSFT) received some bad news in Russia recently, as the city of Moscow will apparently replace various Microsoft software programs with domestic software, including Microsoft Exchange Server and Outlook. Moscow is doing so to heed President Vladimir Putin’s initiative of reducing the country’s dependence on American information technology at a time when relations with the U.S. aren’t exactly the best. According to the article, Russian government entities are estimated to spend around $295 million annually on foreign software. 131 funds in our system owned shares of Microsoft Corporation (NASDAQ:MSFT) as of the most recent 13F reporting period, down by 13 funds from the previous reporting period.

Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) shares are 1.7% in the green after its commercialization partner in Japan, Otsuka Pharmaceutical, received the green light from regulators in the country to market Iclusig for the treatment of two conditions: chronic myeloid leukemia resistant or intolerant to preceding drug treatment, and relapsed or treatment-resistant Philadelphia chromosome-positive acute lymphoblastic leukemia. The Japanese regulator’s approval entitles ARIAD to a $10 million milestone payment from Otsuka. 27 funds that we track were long around 23.10% of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA)’s float on June 30.

Disclosure: None