These 10 Stocks are Making Headlines Today

In this article, we will discuss some of the notable stocks making headlines today. To take a look at some more stocks that are trending, go to These 5 Stocks are Making Headlines Today.

The markets are in the green today as the S&P 500 Index, Dow Jones Industrial Average (DJIA) Index, and the NASDAQ Composite Index are up 0.39%, 0.02%, and 1.07%, respectively, as of 10:32 AM ET. Popular names such as Twitter, Inc. (NASDAQ:TWTR), Crocs, Inc. (NASDAQ:CROX), and Apple Inc. (NASDAQ:AAPL) are amongst the stocks leading the headlines today.

Let’s look at why these stocks are trending today and discuss how hedge funds are positioned in them.

10. Tesla, Inc. (NASDAQ:TSLA) is up 1.9% as of 10:28 AM ET after the Austin, Texas-based electric vehicle manufacturer announced that it delivered around 310,000 vehicles during Q1 2022, compared to the consensus estimate of 312,000 vehicles. The analysts are perceiving this number positively as Tesla, Inc. (NASDAQ:TSLA) had to experience COVID-19 related closedowns in China and significant logistical complications during the quarter.

Dan Ives at Wedbush estimated that Tesla, Inc. (NASDAQ:TSLA) was forced to push the production of 20,000 to 25,000 vehicles from Q1 to Q2 2022. Ives has given the stock an Outperform rating with a price target of $1,400.

Of the 924 hedge funds in Insider Monkey’s database, Tesla, Inc. (NASDAQ:TSLA) was held by 91 hedge funds at the end of Q4 2021.

9. Starbucks Corporation (NASDAQ:SBUX) has plummeted 5.1% as of 10:28 AM ET after it announced that founder and former CEO Howard Schultz would take over as the interim CEO for the third time following CEO Kevin Johnson’s exit. Mr. Schultz will continue working until the company finds a suitable and long-term replacement.

Starbucks Corporation (NASDAQ:SBUX) also announced that it would suspend its current stock repurchase program and divert the funds toward its stores and employees. Back in Q4 2021, Starbucks Corporation (NASDAQ:SBUX) pledged to return $20 billion to shareholders in the next three years in the form of dividends and stock buyback. The current share buyback plan had an authorization of 17.8 million shares available for repurchase. During Q1 2022, the company repurchased over 31.1 million shares. At the current market value, the buyback plan had an available authorization of over $1.6 billion.

As of Q4 2021, Starbucks Corporation (NASDAQ:SBUX) was under the ownership of 53 hedge funds. As the leading investor, Fundsmith LLP was long over 11 million shares of Starbucks Corporation (NASDAQ:SBUX) in Q4.

8. Nio Inc. (NYSE:NIO) has jumped 5.4% as of 10:30 AM ET after the Chinese electric vehicle manufacturer was upgraded from a Neutral to a Buy rating with a target price of $32 by Paul Gong at UBS. The target price provides a potential upside of over 45% from the last closing price. Last week, Nio Inc. (NYSE:NIO) announced that its deliveries in March increased by 38% from the same period last year. Meanwhile, Nio Inc. (NYSE:NIO) delivered 25,768 vehicles for the complete quarter, reflecting a rise of 29% YoY.

Out of the 924 hedge funds being tracked by Insider Monkey, 30 funds held a position in Nio Inc. (NYSE:NIO) as of Q4 2021.

7. Leslie’s, Inc. (NASDAQ:LESL) has risen 4.2% as of 10:31 AM ET. The Phoenix, Arizona-based retailer of swimming pool supplies and related goods was upgraded from a Neutral rating to a Buy rating with a price target of $27 by Kate McShane at Goldman Sachs earlier today. The target price reflects a potential upside of nearly 34% from the last closing price. McShane anticipates higher revenue growth for Leslie’s, Inc. (NASDAQ:LESL) due to the continued maintenance of a greater pool base. The increase in downloads of its application and Google search trends support this narrative. Leslie’s, Inc. (NASDAQ:LESL) is also expecting sustainable gross profit in the short-term and long-term.

As of Q4 2021, 28 hedge funds reported owning a stake in Leslie’s, Inc. (NASDAQ:LESL), down from 31 in the previous quarter.

6. JPMorgan Chase & Co. (NYSE:JPM) has soared over 1% as of 10:29 AM ET following the publication of the letter to shareholders by Jamie Dimon, Chairman and CEO. Dimon revealed that JPMorgan Chase & Co. (NYSE:JPM) earned a net income of $48.3 billion in 2021, in comparison to $29.1 billion in 2020, reflecting the company’s “strong underlying performance across businesses.” Moreover, JPMorgan Chase & Co. (NYSE:JPM) raised capital and extended credit of $3.2 trillion for American consumers, governments, and firms in 2021.

At the end of Q4 2021, 107 hedge funds held a stake in JPMorgan Chase & Co. (NYSE:JPM), reflecting a sequential increase of six funds. Fisher Asset Management was the leading investor in the company, with a stake worth over $1.17 billion.

Along with JPMorgan Chase & Co. (NYSE:JPM), Twitter, Inc. (NASDAQ:TWTR), Crocs, Inc. (NASDAQ:CROX), and Apple Inc. (NASDAQ:AAPL) are amongst the stocks trending today.

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Disclose. None. These 10 Stocks Are Making Headlines Today is originally published on Insider Monkey.