In this article we will take a look at the some of notable stocks trending today.
It’s earnings season and the broader market is higher with the Dow Jones up 0.4%, the S&P 500 up 0.79% and the NASDAQ 100 up 1.06%. Among the stocks trending today include Caterpillar Inc. (NYSE:CAT), Mastercard Incorporated (NYSE:MA), Facebook, Inc. (NASDAQ:FB), Ford Motor Company (NYSE:F), Shopify Inc. (NYSE:SHOP), eBay Inc. (NASDAQ:EBAY), and Teradyne, Inc. (NASDAQ:TER). Let’s find out why each stock is trending and how elite funds were positioned among them.
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10. Facebook, Inc. is up 3.4% after the company announced it will change its name to Meta. Recently, Facebook, Inc. announced plans to increase its capital expenditures substantially next year to bring the metaverse to life. Facebook, Inc. will also change its stock ticker to MVRS on December 1. Facebook, Inc. was one of the most widely held stocks in our smart money database at the end of Q2.
9. Ford Motor Company is up 8.6% after the company reported adjusted EPS of $0.51 versus the consensus of $0.27. Revenue was $35.7 billion versus the consensus of $32.54 billion. After the earnings report, Michael Ward of Benchmark raised his price target on Ford Motor Company to $20 from the previous $18. Out of our database of 873 elite funds, 55 were long Ford Motor Company at the end of Q2.
8. Shopify Inc. has rallied 7.8% despite missing estimates for Q3. For the period, Shopify Inc. earned an adjusted $0.81 per share, versus the consensus of $1.23 per share. Sales were $1.12 billion versus estimates of $1.15 billion. Despite the miss, the market may have been expecting worse numbers. 85 elite funds were long Shopify Inc. at the end of Q2, down from 91 at the end of Q1.
7. eBay Inc. has fallen more than 7% despite stronger than expected Q3 results. For the period, eBay Inc.’s sales were $2.5 billion, versus the consensus of $2.46 billion, and the company’s adjusted earnings were 90 cents per share versus the estimate of 89 cents per share. 39 elite funds in our database were long eBay Inc. at the end of Q2.
6. Teradyne, Inc. is up more than 10% after multiple analysts upgraded Teradyne, Inc.. Among them Krish Sankar of Cowen upgraded the stock to ‘Outperform’ from ‘Market Perform’ and set a $150 price target, up from the previous $135. Catherine D. Wood‘s ARK Investment Management owned 2.78 million shares of Teradyne, Inc. at the end of Q2.
Like Facebook, Inc., Ford Motor Company, Shopify Inc., eBay Inc., and Teradyne, Inc., Caterpillar Inc. and Mastercard Incorporated are trending.
5. Caterpillar Inc. is up 3.3% after the company’s adjusted earnings for the third quarter exceeded estimates. For the period, Caterpillar Inc. earned an adjusted $2.66 per share, versus the average estimate of $2.20. Sales for the period was $12.4 billion, slightly below the Zacks Consensus estimate of $12.6 billion. 62 elite funds in our database were long Caterpillar Inc. at the end of Q2, up from 53 at the end of Q1.
4. Mastercard Incorporated has fallen 1.5% despite exceeding estimates for the third quarter. For the period, Mastercard earned an adjusted $2.37 per share versus the consensus of $2.19 per share. Sales were $4.99 billion versus the consensus of $4.95 billion. Mastercard Incorporated is down 6% year to date. Mastercard Incorporated was among the top 10 most widely held stocks in our smart money database at the end of Q2.
3. Yum! Brands, Inc. (NYSE:YUM) is in the spotlight after the company reported adjusted EPS of $1.22 for Q3, versus the consensus of $1.08. Revenue was $1.61 billion, exceeding the estimate of $1.59 billion, and same store sales rose 5%. 35 elite funds were long Yum! Brands, Inc. at the end of the second quarter.
2. Nielsen Holdings plc (NYSE:NLSN) has risen 6.8% after the company’s third quarter results beat estimates with adjusted EPS of $0.45 versus the consensus of $0.36. Total revenues rose 6.2% year over year to $882 million. At Q2’s end, a total of 28 of the hedge funds tracked by Insider Monkey were long Nielsen Holdings plc (NYSE:NLSN).
1. Twilio Inc. (NYSE:TWLO) has fallen 17.8% after the company said it has an outlook for the fourth quarter of an adjusted EPS loss of 23 cents to an adjusted EPS loss of 26 cents. After growing quickly in the past, growth is harder now given current conditions. Catherine D. Wood‘s ARK Investment Management owned more than 3.7 million shares of Twilio Inc. at the end of June.
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This article is originally published at Insider Monkey.
