In this article, we take a look at five stocks that are making headlines on Monday. If you want to take a look at some more stocks that are trending today and the latest market situation, go to 10 Stocks Making Headlines on Monday.
5. Twitter, Inc. (NASDAQ:TWTR) has soared 4.81% as of 11:59 AM ET after the company revealed more details about the ‘poison pill’ that it has implemented to counter the hostile takeover attempt by Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk. Former Twitter, Inc. (NASDAQ:TWTR) CEO Jack Dorsey also criticized the board, highlighting it as a dysfunctional component of the company. Dorsey happens to be a member of Twitter, Inc.’s (NASDAQ:TWTR) Board, but he intends to vacate his seat once his term expires at the 2022 annual shareholder’s meeting.
As of Q4 2021, 83 hedge funds held a stake in Twitter, Inc. (NASDAQ:TWTR).
4. DiDi Global Inc. (NYSE:DIDI) has fallen 14.63% as of 12:02 PM ET after the Chinese ride-hailing corporation announced that it’s planning to delist its shares from the New York Stock Exchange (NYSE) and find an alternative stock exchange to list its shares. An extraordinary general meeting has been called on May 23 to vote on this matter. However, the delisting process from the NYSE will be completed first before the process of listing on a new stock exchange begins.
DiDi Global Inc. (NYSE:DIDI) also announced its Q4 2021 results earlier today. Revenue declined by 12.7% YoY to $6.4 billion, and the loss per American Depository Share (ADS) was one cent.
DiDi Global Inc. (NYSE:DIDI) is a constituent of 21 hedge fund portfolios as of Q4 2021. Coatue Management is the leading investor in DiDi Global Inc. (NYSE:DIDI), with a stake worth over $201 million.
3. Sirius XM Holdings Inc. (NASDAQ:SIRI) has tumbled 2.79% as of 12:02 PM ET after the New York-based audio entertainment company was downgraded from an Equal Weight to an Underweight rating by Benjamin Swinburne at Morgan Stanley. The analyst gave a price target of $7. The target price assumes a narrow potential upside of just 8.3% from the last closing price. Swinburne has downgraded Sirius XM Holdings Inc. (NASDAQ:SIRI) stock due to concerns related to the slowdown in consumer growth. He also highlighted that the cable and satellite industry is considered a defensive sector, but Sirius XM Holdings Inc. (NASDAQ:SIRI) is one of the companies in the industry that has a cyclical trend due to its correlation with the US auto sales.
Of the 924 hedge funds in Insider Monkey’s database, Sirius XM Holdings Inc. (NASDAQ:SIRI) was held by 24 hedge funds, with a cumulative holding of $165.15 million as of Q4 2021.
2. The Wendy’s Company (NASDAQ:WEN) has slipped 3.14% as of 12:03 PM ET after the Ohio-based quick-service restaurant was downgraded from an Outperform to a Market Perform rating by Andrew Strelzik at BMO Capital Markets. The analyst gave a price target of $22 on The Wendy’s Company (NASDAQ:WEN), reflecting a low potential upside of 5.3%. Strelzik thinks that The Wendy’s Company (NASDAQ:WEN) is less prepared to combat a tighter US consumer discretionary spending pattern compared to its competitors in the challenging macroeconomic environment. The analyst thinks that customers would opt for less valuable items and lower order add-ons as price levels rise.
The Wendy’s Company (NASDAQ:WEN) was held by 26 hedge funds at the end of Q4 2021, with a combined stake of $906.7 million.
1. Robinhood Markets, Inc. (NASDAQ:HOOD) is down 3.3% as of 12:03 PM ET after Michael Cyprys at Morgan Stanley highlighted that this would be a transition year for the company. The analyst sees near-term challenges for Robinhood Markets, Inc. (NASDAQ:HOOD) due to the restricted stock and cryptocurrency trading level during the transition year. Cyprys stated that Robinhood Markets, Inc. (NASDAQ:HOOD) has the potential to be a great service for Generation Y and Z, just like the Charles Schwab Corporation (NYSE:SCHW) was for the baby boomers. However, the lack of profitability remains a sign of concern.
According to proprietary data obtained by Insider Monkey, 24 hedge funds held a stake in Robinhood Markets, Inc. (NASDAQ:HOOD) as of Q4 2021.
You can also take a peek at the Top 10 Stocks Billionaire Mets Owner Steve Cohen Just Added to His Portfolio and 10 European Defense Stocks to Buy Now.
