Why Are These Stocks in Spotlight on Monday?

TransCanada Challenges Barack Obama’s Rejection of Keystone Pipeline

TransCanada Corporation (USA) (NYSE:TRP) is in the spotlight after the company announced on Friday that it had formally requested to challenge U.S. President Barack Obama’s rejection of its Keystone XL pipeline. The Calgary-based company is seeking $15 billion in damages. TransCanada Corporation had proposed the Keystone XL to link some of the existing pipeline networks between the US and Canada to bring crude oil from Alberta and North Dakota to refineries in Illinois and Gulf of Mexico. However, in November, President Obama rejected the plan, saying that the pipeline would not make any meaningful contribution to the US economy. TransCanada Corporation is basing its claims on the North Atlantic Free Trade Agreement (NAFTA). Out of nearly 766 funds from our database, 17 funds were long in TransCanada Corporation (USA) (NYSE:TRP) at the end of the first quarter. Alec Litowitz and Ross Laser’s Magnetar Capital owns around 3.28 million shares of the company.

Facebook and YouTube Deploy New Technology to Delete Terrorists’ Videos  

Alphabet Inc (NASDAQ:GOOGL)’s YouTube and Facebook Inc (NASDAQ:FB) are trending after Reuters reported that both internet companies have “quietly” started removing video content uploaded by extremists and terrorists on their websites.  According to the report, Facebook and YouTube are using automated technology to detect and remove the banned content. The technology uses hashes and digital fingerprints to block the videos. Facebook and Google are taking this step following an increased pressure from governments around the world after major terror attacks across the US and Europe. Among the investors tracked by us, 164 funds were bullish on Facebook Inc (NASDAQ:FB) at the end of the first quarter, up from 146 funds a quarter earlier. Andreas Halvorsen’s Viking Global owns more than 20.13 million shares of the company as of the end of March. On the other hand, Alphabet Inc (NASDAQ:GOOGL)’s class A stock was in the portfolios of 155 funds in our database at the end of March.

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