Crude futures are in the green this morning after a bullish API report yesterday. Not surprisingly, all three major index futures are in the green as well as many traders await the FOMC’s final decision.
In this article, let’s find out why five NASDAQ listed companies, Intel Corporation (NASDAQ:INTC), Netflix, Inc. (NASDAQ:NFLX), Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), and CSX Corporation (NASDAQ:CSX), are in the spotlight. Let’s also use the latest 13F data to determine how elite funds are positioned among them.
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Intel Corporation (NASDAQ:INTC) is trending after John Pitzer of Credit Suisse downgraded the semiconductor maker to ‘Neutral’ from ‘Outperform’. The analyst also trimmed his price target to $35 per share from $45. Although he likes Intel’s recent Mobileye NV (NYSE:MBLY) purchase, Pitzer thinks Intel’s valuation is a bit high right now and that Intel is a ‘better company than stock’. Of the 742 elite funds we track, 58 funds owned $3.7 billion of Intel Corporation (NASDAQ:INTC) and accounted for 2.20% of the float on December 31, versus 68 funds and $4.88 billion respectively on September 30.
Netflix, Inc. (NASDAQ:NFLX) shares are in the green in the pre-market after analyst John Janedis of Jefferies upgraded the internet video streamer to ‘Hold’ from ‘Underperform’. Janedis raised his price target to $135 per share from $95, citing survey data that shows substantial growth opportunity in potentially large markets such as India and Germany. Meanwhile, the analyst believes Netflix’s original show creation strategy is working and that current competition isn’t a problem. 61 top funds were long Netflix, Inc. (NASDAQ:NFLX) at the end of the fourth quarter, up 6 funds from the previous quarter.
On the next page, we examine why Apple Inc, Microsoft Corporation, and CSX Corporation are in the spotlight.