A Look at Five Trending Stocks on Friday

The shares of both Starwood Hotels & Resorts Worldwide Inc (NYSE:HOT) and Marriott International Inc (NASDAQ:MAR) slid by more than 5% on Friday following news that the Chinese consortium Anbang Insurance Group abandoned its proposal to buy Starwood Hotels for $14 billion in cash. This offer dwarfed the $13.6 billion bid by Marriott. Marriott International, Inc. (NASDAQ:MAR) and Starwood Hotels & Resorts Worldwide, Inc. (HOT) encouraged shareholders to support the deal. Both companies will host their separate shareholder meetings on April 8. At the end of 2015, 52 hedge funds out of those tracked by us held positions in Starwood Hotels with an aggregate value of $325.4 million. John Paulson’s Paulson & Co is one of the biggest shareholders of Starwood with ownership of approximately 11 million shares. In Marriot, a total of 34 funds reported long positions worth $606.5 million in aggregate as of the end of 2015. Billionaire Ken Griffin’s Citadel Investment Group owns approximately 1 million shares of Marriott.

TerraForm Power Inc (NASDAQ:TERP) inclined by 6% in pre-market trading today after billionaire investor David Tepper‘s Appaloosa Management upped its stake in the clean power company to 10.88% from 9.5%. In this way, Appaloosa owns 10.81 million shares of TerraForm Power. In its filing with the Securities and Exchange Commission, Appaloosa urged the company to remove the members of its Corporate Governance and Conflicts Committee and to replace them with members elected by its publish shareholders. In addition, the investor said it had asked for the removal of TerraForm’s CEO, Brian Wuebbels, and the appointment of a monitor or director to the board that would represent the interests of publish shareholders of TerraForm. On Wednesday, TerraForm said that Wuebbels had resigned from his CEO and President positions. Overall, 24 funds among those we track have stakes in the power company as of the end of 2015, which represent more than 30% of the company’s outstanding stock. Another shareholder of TerraForm is Andrew Feldstein‘s Blue Mountain Capital owns approximately 9.1 million shares of the company.

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