In this article we will take a look at the some of notable stocks on the move today. You can skip our detailed analysis of these stocks and go to read Why These 5 Stocks Are Moving on Friday.
It’s the end of the trading week and Pinduoduo Inc. (NASDAQ:PDD), Baidu, Inc. (NASDAQ:BIDU), Vail Resorts, Inc. (NYSE:MTN), Tesla, Inc. (NASDAQ:TSLA), Moderna, Inc. (NASDAQ:MRNA), salesforce.com, inc. (NYSE:CRM), and Micron Technology, Inc. (NASDAQ:MU) have each shown some notable activity. Let’s examine why each stock moved and how elite funds are positioned among them.
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10. Vail Resorts, Inc. (NYSE:MTN) shares have surged more than 6% after the company reported fiscal 2021 results. For the fiscal year, net income attributable to Vail Resorts, Inc. (NYSE:MTN) was $127.9 million, an increase of 29.4% compared to fiscal 2020. Vail Resorts, Inc. (NYSE:MTN) CEO Rob Katz said, “As we head into fiscal 2022, we are encouraged by the robust demand from our guests, the strength of our advance commitment product sales and our continued focus on enhancing the guest experience while maintaining our cost discipline. Our guidance for net income attributable to Vail Resorts, Inc. is estimated to be between $278 million and $349 million for fiscal 2022.” Vail Resorts, Inc. (NYSE:MTN) shares are up almost 30% year to date.
Of the around 873 elite funds in our database, 40 were long Vail Resorts, Inc. (NYSE:MTN) at the end of the second quarter.
9. Tesla, Inc. (NASDAQ:TSLA) shares are up 2.3% after after CEO Elon Musk said, “There’s a lot of chip fabrication plants that are being built and I think we will have good capacity by next year.” Chip shortages have been a problem for many automakers. With more capacity, the chip shortage could be a short term one. Tesla, Inc. (NASDAQ:TSLA) shares are up 5.6% year to date so far. Catherine D. Wood‘s ARK Investment Management owned more than 5.4 million shares in Tesla, Inc. (NASDAQ:TSLA) at the end of June.
8. Moderna, Inc. (NASDAQ:MRNA) shares are off 4.8% likely due to profit taking. Shares of the stock are up 287% year to date and expectations for added demand from future potential boosters may have been higher than what it seems now. Given that Pfizer boosters haven’t been recommended for everyone (at least as of right now), expectations for future potential Moderna, Inc. (NASDAQ:MRNA) boosters might not be as high as previously expected. Whether that will change in the future depends on what health officials decide. Their recommendation can change given new data. Of the around 873 elite funds in our database, 37 were long Moderna, Inc. (NASDAQ:MRNA) at the end of the second quarter.
7. salesforce.com, inc. (NYSE:CRM) is up almost 3% after Kirk Materne of Evercore ISI raised his price target to $375 from $325. The analyst also has an ‘Outperform’ rating. Other analysts have also raised their price targets on salesforce.com, inc. (NYSE:CRM) recently as well. salesforce.com, inc. (NYSE:CRM) shares are up almost 30% year to date. Ken Fisher‘s Fisher Asset Management was long more than 13.4 million shares in salesforce.com, inc. (NYSE:CRM) at the end of June.
6. Micron Technology, Inc. (NASDAQ:MU) is on watch after Harlan Sur of JPMorgan lowered his price target to $100 from $140 on Micron due to DRAM pricing softness. Although Micron Technology, Inc. (NASDAQ:MU) initially opened in the red, its shares have bounced back and are now up 0.1%. Sur still has an ‘Overweight’ rating on Micron Technology, Inc. (NASDAQ:MU).
Micron Technology, Inc. (NASDAQ:MU)’s stock performance is near flat year to date. Of the around 873 elite funds in our database, 87 were long Micron Technology, Inc. (NASDAQ:MU) at the end of the second quarter.
Like Vail Resorts, Inc. (NYSE:MTN), Tesla, Inc. (NASDAQ:TSLA), Moderna, Inc. (NASDAQ:MRNA), salesforce.com, inc. (NYSE:CRM), and Micron Technology, Inc. (NASDAQ:MU), Pinduoduo Inc. (NASDAQ:PDD), and Baidu, Inc. (NASDAQ:BIDU) are on the move.
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Disclosure: None. Why These 10 Stocks Are Moving on Friday is originally published on Insider Monkey.
