Here’s Why Apple, Alcoa, Twilio, and Two Other Stocks Are Trending Today

Goldman Sachs Upgrades Caterpillar

Caterpillar Inc. (NYSE:CAT) is on investors’ radars today after Goldman Sachs upgraded the stock to ‘Buy’ from ‘Neutral’ and raised the price target to $112 from $76. Goldman Sachs analyst Jerry Revich said in a note that Caterpillar would generate margin expansion due to the company’s reduction of footprint in the European construction industry, a decline in R&D focus, and capital allocation in high-end product lines. Revich thinks that these developments would positively affect the company’s earnings. The stock has gained 30% year-to-date. As of the end of the second quarter, 31 funds tracked by us own shares of Caterpillar Inc. (NYSE:CAT), down from 37 funds a quarter earlier.

Apple Rising on Samsung’s Note 7 Debacle

Apple Inc. (NASDAQ:AAPL) shares have inched up today after Samsung announced to end the production and sales of its flagship Galaxy Note 7 following several reports of replacement devices catching fire. On Monday, Apple’s stock jumped by over 2%, its highest rally since December last year. Analysts think that the Samsung’s brand reputation has been massively dented after the Note 7 debacle, and it will give a competitive advantage to Apple in the coming months. Drexel Hamilton analyst Brian White has suggested that the discarding of the Note 7 production, could result in Apple gaining “at least” 8 million iPhone units sold this year. In other news, both tech giants are set to launch their historic legal battle in the Supreme Court on patent infringement case, which started back in 2011 when Apple sued Samsung for copying round corner design of phones and several other software and hardware features. A total of 116 funds from our database own shares of Apple Inc. (NASDAQ:AAPL) as of the end of the second quarter, significantly down from 152 funds a quarter earlier.

Twilio’s Preliminary Q3 Results Beat Estimates

Twilio Inc (NYSE:TWLO)’s stock is gaining ground after the company announced preliminary third-quarter results that are above the Street’s forecasts. The California-based company which provides Cloud communication platform for famous services like Uber and WhatsApp, expects a net loss per share of $0.14 to $0.15 in the third quarter, less than the loss of $0.70 per share recorded in the same quarter last year. On an adjusted basis, Twilio Inc (NYSE:TWLO) expects a loss per share at $0.04-$0.05, better than the estimates of a loss of $0.09 per share. Quarterly revenue is expected to come between $70.25 million and $71.25 million, above the consensus estimate of $64.37 million. The company sees gross margins at 56%, whereas operating margin is expected to be -17%, narrower than -20% recorded a year earlier. A total of nine funds tracked by us are bullish on Twilio Inc (NYSE:TWLO) as of the end of June.

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