Here’s Why These Five Stocks Are Trending on Tuesday

Micron Technology Gets Outperform Rating by Baird

Micron Technology, Inc. (NASDAQ:MU)’s stock is trading in the green today after financial services firm Robert W. Baird & Co upgraded the stock to “Outperform” from “Neutral.” Tristan Gerra, an analyst at Baird, thinks that Micron’s NAND business has strong chances because Samsung is likely to shift from DRAM to NAND in the second half of the year. Mr. Gerra also thinks that the PC market and a rebounding smartphone market in China bring promising opportunities for the Idaho based semiconductor company. Out of the total funds tracked by us, 51 funds were bullish on Micron Technology, Inc. (NASDAQ:MU) at the end of March, down from 64 funds a quarter earlier. Gifford Combs’s Dalton Investments has 1.4 million shares of the company, according to its latest 13F filing.

HP Drags Oracle in Court

Oracle Corporation (NYSE:ORCL) is back in court. This time, its opponent is Hewlett Packard Enterprise, which has accused Oracle of allegedly conspiring to hurt its Itanium-based systems business. HP is seeking $3 billion in damages from Oracle. A San Jose, California jury is set to hear the opening arguments from both sides on Tuesday. The legal battle between the two software titans started in 2011. According to HP, Oracle helped in hurting the sales of its Itanium-based systems because it became its competitor after acquiring Sun Microsystems in 2011. Oracle denies these allegations. Out of the total funds tracked by Insider Monkey, 62 funds have approximately $7.9 billion worth of stock as of the end of March 2016. Robert Rodriguez and Steven Romick First’s Pacific Advisors LLC own more than 25 million shares of the company.

Verizon To Raise Salaries of Workers, Offer New Jobs

Shares of Verizon Communications Inc. (NYSE:VZ) gained 0.40% this morning after the details of its deal with unionized workers signed on May 27 emerged on Monday.  According to the deal, the New Jersey-based telecom giant has promised a 10% raise in salaries and 1,400 new jobs. More than 36,000 unionized Verizon workers had been  on a strike since April. Warren Buffett’s Berkshire Hathaway is one of the 61 hedge funds from our system that held stakes in Verizon Communications Inc. (NYSE:VZ) at the end of the first quarter. Berkshire owns more than 15 million shares of the company.

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