It’s another quiet day on Wall Street as all three major indexes are moderately lower. Although crude futures have just passed through the $50 per barrel mark, the price action around the commodity has been muted so far.
Among the stocks in the spotlight today are Walt Disney Co (NYSE:DIS), Monster Worldwide, Inc. (NYSE:MWW), L Brands Inc (NYSE:LB), BlackBerry Ltd (NASDAQ:BBRY), and Fred’s, Inc. (NASDAQ:FRED). Let’s analyze why each stock is trending and see what the smart money thinks of each of them.
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Walt Disney Co (NYSE:DIS) is trending after Recode reported that the entertainment giant won’t bid for Twitter Inc (NYSE:TWTR). Some thought that Disney might be interested in the social media company as a distribution platform for digital content to hedge against the secular decline of the company’s crown jewel, ESPN. Evidently, those traits weren’t enough to persuade Disney to make a bid. Ken Fisher’s Fisher Asset Management reported a long stake of 8.67 million shares in Walt Disney Co (NYSE:DIS) held as of the end of June.
Monster Worldwide, Inc. (NYSE:MWW) is in the spotlight today after the company announced preliminary revenue for the third quarter of 2016. For the three months, Monster Worldwide expects revenue from continuing operations to be down by around 14% year-over-year to $143-$145 million. Fortunately for shareholders, Monster entered into a definitive agreement with Randstad on August 9, in which Randstad will buy Monster for $3.40 in cash per share. Of the 749 funds we track, 19 funds held roughly 5% of Monster Worldwide, Inc. (NYSE:MWW)’s float on June 30.
On the next page, we take a closer look at L Brands Inc (NYSE:LB), BlackBerry Ltd (NASDAQ:BBRY), and Fred’s, Inc. (NASDAQ:FRED).