Crude futures are in the green today as traders look forward to today’s rig count release. If rig growth begins slowing or topping, sentiment could improve.
Among the stocks that traders are also watching include several major companies, Apple Inc. (NASDAQ:AAPL), Caterpillar Inc. (NYSE:CAT), Valeant Pharmaceuticals Intl Inc (NYSE:VRX), Chipotle Mexican Grill, Inc. (NYSE:CMG), and Boeing Co (NYSE:BA). In this article, let’s take a closer look at why each stock is trending and analyze what the smart money thinks of each stock.
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Apple Inc. (NASDAQ:AAPL) is doubling down on China, having pledged to open two R&D centers in Shanghai and Suzhou. That’s in addition to two previously announced R&D labs in Shenzhen and Beijing. Given that it’s a huge market and the economy there is still growing, staying in the government’s good graces is imperative. By opening two R&D centers in Shanghai and Suzhou, Apple is buying goodwill and making sure Chinese consumers keep buying Apple products. Warren Buffett’s Berkshire Hathaway is a major holder of Apple Inc. (NASDAQ:AAPL), having bought a massive stake over the last two quarters.
Caterpillar Inc. (NYSE:CAT) is doing its best to settle the uncertainty around it. The heavy equipment maker recently hired William Barr, a former U.S. Attorney General, to help sort out the IRS probe concerning the company’s export and import practices. Shares of the company have rallied strongly from their lows due to Trump infrastructure stimulus hopes, but have lately retraced due to the uncertainty. Of the 742 elite funds we track, 34 funds owned $1.6 billion of Caterpillar Inc. (NYSE:CAT) and accounted for 2.90% of the float on December 31, versus 32 funds and $1.46 billion respectively on September 30.
On the next page, we examine Valeant Pharmaceuticals Intl Inc, Chipotle Mexican Grill Inc, and Boeing Co.