Here’s Why Tempur Sealy International, Nike, Facebook, and Two Other Stocks Are Trending Today

Facebook Inc (NASDAQ:FB) is trending after The Information reported that the tech giant is close to launching Facebook at Work, a business-first social network that is designed to compete against Yammer and Slack. In order to monetize the service, Facebook is planning to charge corporations a variable fee based on the number of employees who use the software monthly. That’s a little different from the previous plan of offering a freemium service. Given how lucrative the enterprise market is, many investors are hoping for the best for Zuckerberg and Co in their latest endeavor. Meanwhile Facebook exec Carolyn Everson said that ad buyers didn’t use Facebook’s previously inflated video metrics, saying ‘Universally, I’ve heard that no one has actually utilized that metric. It did not impact ROI and did not impact billing’. Facebook was the most widely held tech stock among the funds that we track, with 148 out of 749 top funds reporting long positions in Facebook Inc (NASDAQ:FB) at the end of the second quarter.

Yahoo! Inc. (NASDAQ:YHOO) is in more hot water, this time from various senators on the Hill, who have written a letter calling for the company to disclose how the hack, which revealed information of over 500 million users, ‘went unnoticed for two years’. Some Senators have taken a step further and called for the SEC to investigate the hack, asking whether Yahoo management fulfilled their disclosure obligations to shareholders. Meanwhile, Tim Armstrong, CEO of AOL, which is owned by Verizon Communications Inc. (NYSE:VZ), the company that had agreed to buy Yahoo’s core internet properties said:

“On the deal side, from a value standpoint for Verizon shareholders and everybody else involved, we just have to make sure we understand what the data issues relate to and what we were signing up to buy.”

Basically it seems that the situation is still fluid. According to our data, 81 funds were bullish on Yahoo! Inc. (NASDAQ:YHOO)  and 52 investors held shares of Verizon Communications Inc. (NYSE:VZ) at the end of June.

Disclosure: none