These Five Stocks Are Trending on Earnings, Analyst Updates

Shares of Micron Technology, Inc. (NASDAQ:MU) have lost some 2% so far today on the back of an analyst downgrade. Needham & Company LLC downgraded the stock to ‘Hold’ from ‘Strong Buy’ and lowered its price target to $17.09 from $22.27. Nevertheless, most analysts still have ‘Buy’ ratings on Micron Technology, Inc. (NASDAQ:MU) and the consensus price target amounts to $24.32 per share. At the end of June, a total of 79 funds from our database held shares of Micron Technology, Inc. (NASDAQ:MU), down from 100 a quarter earlier, while the total value of their stakes was equal to 18.30% of the company’s outstanding stock. Among these funds, Einhorn’s Greenlight Capital held 37.95 million shares (see what Einhorn said about Micron).

Twitter Inc (NYSE:TWTR) is next in line after its stock slid by 6.5% after Morgan Stanley downgraded it to ‘Underweight’ from ‘Equal Weight’ and lowered its price target to $24 from $36. In the research note, the analysts at Morgan Stanley said that Twitter Inc (NYSE:TWTR) is being negatively affected by an increase in competition in the mobile space and is suffering from limited user growth, a lack of material, and declining engagement, among other things. Hedge funds seem to share the same opinion, as they are also underweight the stock. A total of 47 funds among those we follow held stakes in Twitter Inc (NYSE:TWTR) equal to 2.90% of its outstanding stock at the end of June.

Penny stock Synta Pharmaceuticals Corp. (NASDAQ:SNTA) dropped by over 70% after the company announced the termination of its Phase 3 GALAXY-2 trial of ganetespib and docetaxel in the second-line treatment of patients with advanced non-small cell lung adenocarcinoma. The company said that based on an interim analysis, the addition of ganetespib and docetaxel would not demonstrate a statistically significant improvement in the primary endpoint compared to docetaxel alone.

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