In this article we will take a look at the some of notable stocks trending today. You can skip our detailed analysis of these stocks and go to read Why These 5 Stocks Are Trending on Tuesday.
Although it’s earnings season, the markets are relatively calm with the Dow Jones and S&P 500 up 0.26% and 0.37% respectively. The NASDAQ is up slightly more at around 0.5%. Some stocks trending today include DraftKings Inc. (NASDAQ:DKNG), Lockheed Martin Corporation (NYSE:LMT), Facebook, Inc. (NASDAQ:FB), General Electric Company (NYSE:GE), Tesla, Inc. (NASDAQ:TSLA), Beyond Meat, Inc. (NASDAQ:BYND), and United Parcel Service, Inc. (NYSE:UPS). Let’s find out why each stock is in the spotlight and how elite funds are positioned among them.
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10. Facebook, Inc. (NASDAQ:FB) is down 4.8% after the company reported quarterly earnings of $3.22 per share and sales of $29.01 billion. Analysts were expecting earnings of $3.19 per share and sales of $29.57 billion. Facebook, Inc. (NASDAQ:FB) has also said it will add $50 billion to its share purchase authorization. Facebook, Inc. (NASDAQ:FB) was one of the most widely held stocks among the elite funds we track at the end of Q2.
9. General Electric Company (NYSE:GE) is up 2% after the company reported adjusted EPS of $0.57, versus the consensus of $0.43. General Electric Company (NYSE:GE) also reported sales of $18.43 billion, versus estimates of $19.25 billion. Viking Global owned more than $1.2 billion worth of General Electric Company (NYSE:GE) shares at the end of Q2.
8. Tesla, Inc. (NASDAQ:TSLA) is in the spotlight due to the company achieving the $1 trillion market cap level recently. With the rally, Tesla, Inc. (NASDAQ:TSLA) will need to grow its profits substantially in the future to justify its valuation. Billionaire Elon Musk owns substantial shares in Tesla, Inc. (NASDAQ:TSLA).
7. Beyond Meat, Inc. (NASDAQ:BYND) has fallen more than 1% after Robert Moskow of Credit Suisse downgraded the stock to ‘Underperform’ from ‘Neutral’. The analyst also cut his price target to $75 from $123 on Beyond Meat, Inc. (NASDAQ:BYND). Ken Griffin‘s Citadel Investment Group owned both put and calls in Beyond Meat, Inc. (NASDAQ:BYND) at the end of Q2.
6. United Parcel Service, Inc. (NYSE:UPS) is up 7.5% after the company reported adjusted diluted EPS of $2.71 and sales of $23.114 billion versus estimates of $2.55 and $22.573 billion, respectively. United Parcel Service, Inc. (NYSE:UPS) also increased its full year margin target to around 13% from the previous 12.7%. The Bill & Melinda Gates Foundation Trust owned more than 2.8 million shares in United Parcel Service, Inc. (NYSE:UPS) at the end of June.
Like Facebook, Inc. (NASDAQ:FB), General Electric Company (NYSE:GE), Tesla, Inc. (NASDAQ:TSLA), Beyond Meat, Inc. (NASDAQ:BYND), and United Parcel Service, Inc. (NYSE:UPS), DraftKings Inc. (NASDAQ:DKNG) and Lockheed Martin Corporation (NYSE:LMT) are trenidng.
Click to continue reading and see Why These 5 Stocks Are Trending on Tuesday.
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Disclosure: None. Why These 10 Stocks Are Trending on Tuesday is originally published on Insider Monkey.
