Here’s Why Hortonworks, Talend, Deutsche Bank, and More Are in the Spotlight

Despite crude futures inching up by 0.4% after today’s EIA report, Freeport-McMoRan Inc (NYSE:FCX) shares are down by 7% on the back of negative price action in copper. The price of the commodity has fallen from the $2.20 area in recent days to $2.12. Given the uncertain state of the Chinese economy and the potential interest rate hikes after the election, copper sentiment has been rather negative. Seeing as how Freeport-McMoRan depends on copper for a big part of its revenue and cash flow, the company’s financial results will not be as great if copper prices remain lethargic. 30 funds in our system owned shares of Freeport-McMoRan Inc (NYSE:FCX) at the end of the second quarter, a drop of four quarter-over-quarter.

Hortonworks Inc (NASDAQ:HDP) shares have retreated by 3.75% while Talend SA ADR (NASDAQ:TLND) shares have surged by 10% after Jesse Hulsing of Goldman Sachs switched up his ratings on both stocks. In relation to Hortonworks, Hulsing downgraded the stock to ‘Sell’ from ‘Buy’ and cut his price target on it to $7 from the previous mark of $13, citing increasing competition and potential pressure on its multiple.

In terms of Talend SA ADR (NASDAQ:TLND), the analyst thinks that the company will benefit from the transfer of analytic workloads to the cloud, which could materially impact it sooner than current estimates on the Street appear to be forecasting. In addition, Hulsing thinks Talend is undervalued, saying the sell-off in its stock due to the weakness in the Pound was overdone. Goldman Sachs has a $31 price target and a ‘Buy’ rating on the stock, up from its previous ‘Hold’ recommendation. Ten funds in our system owned shares of Hortonworks Inc (NASDAQ:HDP) at the end of June. There are no known shareholders of Talend (which had its IPO this quarter) in our database at this time.

Disclosure: None