Why Are These Stocks in Spotlight on Thursday?

Twilio’s Optimistic IPO

Twilio Inc (NYSE:TWLO), a San Francisco’s unicorn startup, has started trading on the New York Stock Exchange on Thursday. The company priced its IPO at $15 for each of its 10 million shares, raising $150 million and valuing the company at $1.2 billion. Twilio’s platform enables developers to incorporate phone calls and text messages in their apps.

Red Flag for Pepsi and Coke: San Francisco to Vote on Taxing Sugary Sodas:

Investors are watching The Coca-Cola Co (NYSE:KO), PepsiCo, Inc. (NYSE:PEP) and other beverage makers after San Francisco supervisors submitted a ballot measure to the San Francisco Department of Elections regarding levying tax on sugary sodas.  The city will vote in November about putting a penny-per-ounce tax on sugar-based beverages. The proponents of the tax argue that caloric drinks contribute to obesity, diabetes and other health problems. Hedge funds increased their hold on The Coca-Cola Co (NYSE:KO) in the first quarter and 62 funds from our system were long in the company, up from 51 funds a quarter earlier. On the other hand, 65 funds from our database were bullish on PepsiCo, Inc. (NYSE:PEP). Donald Yacktman’s Yacktman Asset Management is notable among these investors, holding more than 13.04 million shares of the company.

Follow Coca Cola Co (NYSE:KO)

Disclosure: None