10 Market-Moving Stocks to Watch on Monday

Published June 6, 2022 at 5:21 pm EDT Updated September 7, 2026 at 11:32 am EDT

In this article, we will discuss some of the notable stocks on the move today.

US stocks have started the week on a positive note following upbeat May jobs report that reiterated the Federal Reserve’s stance of taking stricter monetary policy action. The S&P 500 and the Dow 30 Index are up 0.40% and 0.13%, while the tech-heavy NASDAQ Composite Index is 0.43% in the green as of 1:02 PM ET. Popular stocks such as Amazon.com, Inc. (NASDAQ:AMZN), Twitter, Inc. (NASDAQ:TWTR), and NVIDIA Corporation (NASDAQ:NVDA) are amongst the stocks on the move today.

Photo by Austin Distel on Unsplash

Let’s look at why these stocks are trending today and discuss how hedge funds are positioned in them.

10. Lululemon Athletica Inc. (NASDAQ:LULU) has risen 0.66% as of 1:00 PM ET after the Vancouver, Canada-based athleisure apparel brand was upgraded from an Underperform to a Market Perform rating by Aneesha Sherman at Bernstein. The analyst gave the stock a price target of $300. Sherman highlighted the 22% decline in stock price since the start of the year and stated that the high multiples have eroded from growth stocks like Lululemon Athletica Inc. (NASDAQ:LULU). The decline in stock price has taken place despite the upward revision in FY22 EPS guidance. However, Sherman sees upside potential in Lululemon Athletica Inc.’s men’s business and a sharper international strategy.

Lululemon Athletica Inc. was held by 44 hedge funds as of Q1 2022.

9. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) has gained 3.95% as of 1:01 PM ET after the Austin, Texas-based cloud-based cybersecurity platform provider was upgraded from an Equal Weight to an Overweight rating by Hamza Fodderwala at Morgan Stanley. The analyst also increased the price target on CrowdStrike Holdings, Inc. (NASDAQ:CRWD) from $195 to $215. Fodderwala shared that the stock offers a “defensive positioning” during an uncertain macroeconomic environment and the recent slump in stock price provides an attractive point of entry to potential investors. The demand for cybersecurity services remains strong in every macroeconomic situation as companies are always looking to boost their defenses and reduce vulnerability to attacks.

Here’s what Baron Funds said about CrowdStrike Holdings, Inc. in its Q1 2022 investor letter:

“CrowdStrike, Inc. provides cloud-delivered, next generation security solutions via its Falcon platform consisting of end-point protection, advanced persistent threat, security information, event management, and cloud workload protection. Shares rose 11% in the first quarter, on the back of impressive quarterly results with net new annual recurring revenue (ARR) accelerating for the second straight quarter to 52% year-over-year and the company’s favorable unit economics driving 30% free cash flow margins. Moreover, key new disclosures highlight how non-end-point products are seeing momentum with cloud product-generated ARR surpassing $100 million, representing 8% of net new ARR in the quarter. With more workloads migrating to or starting in the cloud, we believe CrowdStrike is well positioned to compound at high growth rates for years given its unique product platform and attractive go-to-market business model.”

Out of the 912 hedge funds being tracked by Insider Monkey at the end of Q1 2022, 80 funds held a position in CrowdStrike Holdings, Inc..

8. DiDi Global Inc. (NYSE:DIDI) has rocketed 38.11% as of 12:59 PM ET after reports that the Chinese ride-sharing giant will be cleared from the investigation of the Chinese government authorities in regards to cybersecurity. DiDi Global Inc. (NYSE:DIDI) will then be permitted to add users to its platform, and it would allow the company to come back to app stores across China. However, this development has not been easy for the organization as it filled the required documents with the US Securities and Exchange Commission (SEC) to delist its shares on the New York Stock Exchange (NYSE) in late May. After leaving the US stock market, DiDi Global Inc. intends to list on the Hong Kong Stock Exchange.

Here’s what Davis Funds said about DiDi Global Inc. in its Q4 2021 investor letter:

“The second regulatory action took place shortly after the initial public offering of Didi Global, China’s ride-sharing leader, on the New York Stock Exchange (NYSE). In early July, the Cybersecurity Administration of China (CAC), implementing provisions from the new Data Security Law issued on June 10, announced that Didi will undergo a cybersecurity review, and further downloading of its app was suspended. Didi’s data privacy and collection policies, as well as data security considerations stemming from the company’s U.S. listing, were the focus of the review. On December 3, Didi announced that it planned to delist from the NYSE and relist in Hong Kong. The market understandably dislikes uncertainty, and it will take several months for the relisting process to be finalized. Over the long run, however, we believe a Hong Kong listing will resolve the CAC’s concerns around national data security, and it will provide a globally recognized primary listing venue, as it already does for other large Chinese internet companies such as Tencent and Meituan. Over time, the value of Didi, like any other company, will be determined by its business prospects and profitability rather than the location of its primary exchange listing.”

Overall, DiDi Global Inc. was held by 15 hedge funds as of Q1 2022.

7. Occidental Petroleum Corporation (NYSE:OXY) has slipped 1.02% as of 1:01 PM ET. The stock of the Texas-based crude oil and natural gas exploration and production (E&P) company has come under pressure after crude oil production from the biggest oilfield in Libya has resumed. The Sharara oilfield can pump 300,000 barrels per day (bpd) and was shut down after protestors demanded that Prime Minister Fathi Bashagha should be given power after his swearing-in. Brent crude price is almost flat at around $119.82 per barrel despite the Saudi increasing crude oil prices for July delivery.

In its Q3 2021 investor letter, Smead Capital Management discussed its stance on Occidental Petroleum Corporation. Here’s what the firm said:

“Oil stocks dominated our winners for the quarter. We showed that we have unlimited ability to tempt fate by buying into Occidental Petroleum (OXY) this year after it was our biggest loser of 2020. It gained 16.64% during the third quarter.”

Occidental Petroleum Corporation was held by 67 hedge funds as of Q1 2022. Berkshire Hathaway was the leading hedge fund investor in Occidental Petroleum Corporation during the first quarter of 2022.

6. Enphase Energy, Inc. (NASDAQ:ENPH) has risen 5.83% as of 12:59 PM ET after the Freemont, California-based provider of solar solutions received a boost after the White House declared a two-year exemption on tariffs for solar panels. The Biden Administration has increased its focus on manufacturing solar panels locally and allowed the use of the Defense Production Act to expedite the local manufacturing of clean energy technologies. The US government is targeting to raise local solar manufacturing capacity to 22.5 GW by 2024. This would be three times higher than the capacity in January 2021, when President Biden took over the White House.

Enphase Energy, Inc. was mentioned in the Q1 2022 investor letter of ClearBridge Investments. Here’s what the firm said:

“Enphase Energy (NASDAQ:ENPH) is a key solar holding that should be able to take advantage of greater incentives for solar installations in many geographies. The company was also a strong contributor for the quarter, overcoming pressures of a higher discount rate on their strong projected future earnings, raw material inflation and supply chain challenges as their long-term value was reaffirmed.”

Overall, 57 elite funds held a position in Enphase Energy, Inc. as of Q1 2022.

Along with Enphase Energy, Inc., some other trending stocks today include Amazon.com, Inc., Twitter, Inc., and NVIDIA Corporation.

5. Amazon.com, Inc. (NASDAQ:AMZN) is up 2.33% as of 12:58 PM ET after the Washington-based diversified technology conglomerate is receiving attention from retail investors following a 20-for-1 stock split. Although the stock split does not change the fundamentals of the business, it is received positively by analysts due to increased participation by retail investors. Along with the stock split, Amazon.com, Inc. also announced a new share buyback plan of $10 billion, which replaced the previous $5 billion share repurchase plan from 2016. Rohit Kulkarni at MKM Partners has given Amazon.com, Inc. stock a post-split price target of $180 and reiterated a Buy rating on the stock.

In its Q1 2022 investor letter, Miller Value Partners shared its insights on Amazon.com, Inc.. Here’s what it said:

“For frame of reference, Amazon (NASDAQ:AMZN) bottomed at the same valuation in the financial crisis (side note: Amazon bottomed at 4x EV/GP after the tech bubble burst)! So there’s historical precedent for the lows being in. We will see whether that holds true this time. Regardless, we think there’s significant upside over a 5-year time horizon. The one other topic I want to briefly address is our volatility. We hope to write something about the topic in more depth in the future, but we want our clients and prospective investors to understand our views on it. We think that volatility is significantly misunderstood. We believe it creates opportunities from which we can profit.”

Amazon.com, Inc. was held by 271 hedge funds at the end of Q1 2022.

4. Spirit Airlines, Inc. (NYSE:SAVE) is 6.55% in the green as of 1:00 PM ET after the Miramar, Florida-based low-cost airline was presented a revised offer by JetBlue Airways Corporation (NASDAQ:JBLU). The new deal includes a $350 million reverse breakup fee from JetBlue Airways as opposed to $200 million previously. JetBlue has offered a special dividend of $1.50 per share to the shareholders of Spirit Airlines, Inc. (NYSE:SAVE) if the deal is approved. The management of Spirit Airlines, Inc. is pursuing the deal with Frontier Group Holdings, Inc. (NASDAQ:ULCC) as they think that it has a higher probability of approval from the authorities. The shareholders of Spirit Airlines will vote on the deal with Frontier Group Holdings on June 10.

Of the 912 hedge funds in Insider Monkey’s database, 26 funds held a position in Spirit Airlines, Inc. as of Q1 2022.

3. Twitter, Inc. has slipped 1.92% as of 12:58 PM ET after Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk said that the microblogging and social media platform had breached the terms of the acquisition agreement by declining to provide additional information about the spam accounts. The richest man in the world had agreed to buy Twitter, Inc. for $54.20 per share, but he has been skeptical about this valuation following the start of the fake account saga. Dan Ives at Wedbush thinks that Musk is creating the ground to abandon the deal without having to pay the $1 billion breakup fee. In case of a material breach, Musk would not be obligated to pay any fee.

Here’s what ClearBridge Investments said about Twitter, Inc. in its Q4 2021 investor letter:

“Weakness among our holdings in the communication services sector was the other detractor to performance. Twitter shares sold off following weaker than expected third-quarter results, but under new leadership, we see the potential for improved execution and performance as live events and entertainment return to pre-pandemic levels.”

Twitter, Inc. was held by 68 hedge funds as of Q1 2022.

2. NVIDIA Corporation (NASDAQ:NVDA) has jumped 0.50% as of 12:59 PM ET after the Santa Clara, California-based graphic processing unit (GPU) manufacturer was selected as one of the top stock picks in the US semiconductor sector by Atif Malik at Citi. The US semiconductor sector has the cloud, cars, and capital expenditure as the three key themes. The sector is also facing an uncertain macroeconomic situation, which has resulted in a 36% contraction in the P/E multiple. Malik thinks that NVIDIA Corporation will experience “resilient demand” because of networking product cycles and hyper-scale builds in the future.

NVIDIA Corporation was mentioned in the Q1 2022 investor letter of ClearBridge Investments. Here’s what the investment management firm said:

“Gaming is an attractive end market within the media/technology sector with strong growth and a long runway, particularly in mobile gaming. Unity’s platform provides an engine and toolkit for development and monetization of games, e-commerce and industrial applications, adding to our industry exposure, which also includes Nvidia (NASDAQ:NVDA) in graphic processing chips.”

Overall, 102 hedge funds reported owning a stake in NVIDIA Corporation at the end of Q1 2022.

1. Nio Inc. (NYSE:NIO) is up 5.39% as of 1:01 PM ET after a report from Kevin Cheng at DigiTimes revealed that the Chinese electric vehicle company is looking to hire personnel for key positions for its new manufacturing plant in the US. The company is looking to recruit resources with overseas work experience and with expertise in car body manufacturing technologies, infrastructure planning, logistics planning, and manufacturing center planning. Nio Inc. (NYSE:NIO) also revealed that it has partnered with Advanced Micro Devices (NASDAQ:AMD) to purchase chips. The chips will be used by the vehicle development division of Nio Inc. and will not be installed in cars under production.

Nio Inc. was held by 26 hedge funds as of Q1 2022.

You can also take a peek at the 10 Dividend Growth Stocks Popular on Robinhood and 10 UK Dividend Stocks To Buy.

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