Here’s Why These Five Stocks Are Trending Today

Analyst Downgrade At KeyCorp 

KeyCorp (NYSE:KEY) is in the spotlight today after Piper Jaffray lowered their rating on the stock to ‘Neutral’ from ‘Overweight’ due to concerns that KeyCorp might not meet Wall Street’s earnings expectations for fiscal years 2017 and 2018. KeyCorp recently closed on the acquisition of First Niagara in a move that might keep management busy for a while. According to our data, hedge funds were pretty bullish on KeyCorp (NYSE:KEY) in the second quarter. The number of funds from our database with holdings in KeyCorp (NYSE:KEY) rose by six quarter-over-quarter to 46 at the end of June.

Statoil Adjusts to Lower Brent in the North Sea

Statoil ASA (ADR) (NYSE:STO) is in the spotlight today after The Wall Street Journal reported that the oil company plans to cut development spending in the North Sea Johan Sverdrup field by 20% to around $12 billion. By cutting costs, the development will be profitable even if Brent prices should fall to around half of current prices. An efficient cost cutting will be increasingly important for Statoil ASA (ADR) (NYSE:STO) if oil prices remain lower for longer. Heading into the third quarter, 10 funds had a bullish position in Statoil ASA(ADR) (NYSE:STO), compared to seven funds a quarter earlier.

GE to Get More Competition in Jet Engines in China

General Electric Company (NYSE:GE) is trending today after the Chinese government created Aero-Engine Group of China, an agglomeration of various existing Chinese aircraft engine companies. With a registered capital of $7.5 billion and strong support from the government, Aero-Engine Group of China will likely give GE a run for its money in terms of manufacturing engines for Chinese airplanes over the next decade. Given China’s large population, the Chinese civilian aircraft market is one of the largest markets in the world. Although it remains a great long-term holding, our data shows that the smart money has been more cautious towards General Electric Company (NYSE:GE)’s stock after its run-up. The number of investors tracked by our team with holdings in General Electric Company (NYSE:GE) slid by seven quarter-over-quarter to 57 at the end of June.

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