Here’s Why These Five Stocks Are Trending on Tuesday

M&A Rumors Ignite Potash Stocks

Potash Corporation of Saskatchewan (USA) (NYSE:POT) and Agrium Inc. (USA) (NYSE:AGU) shares are up by 13.4% and 8%, respectively, after Bloomberg reported that the companies are said to be in advanced talks over a potential merger. Both Potash Corp and Agrium are major players in the potash market and a combination of the two would give each more pricing power to lift potash prices higher. Potash prices have been in a bear market due to weakness in demand from traditional growth markets of India and China. Although the potential merger between the two could fall apart at any time, a merger deal could be struck as soon as next week. A total of 32 funds from our database were long Potash Corporation of Saskatchewan (USA) (NYSE:POT) and 18 funds were long Agrium Inc. (USA) (NYSE:AGU) at the end of the second quarter.

Analyst Upgrade At Micron 

Analysts at Morgan Stanley are fans of Micron Technology, Inc. (NASDAQ:MU) today after the investment bank raised its 12 month price target to $20 from $18 per share and maintained its ‘Overweight’ position. The analysts believe the key to Micron stock moving higher will be ‘company-specific execution, where we look for 2 key transitions to gradually improve in costs, realized prices, & EPS’. Our data shows that the smart money was more bullish on Micron Technology in the second quarter. The number of funds tracked by us with holdings in Micron Technology, Inc. (NASDAQ:MU) rose by 16 quarter-over-quarter to 67 at the end of June.

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