Why These 5 Stocks Are on the Move on Friday

In this article we take a look at five stocks that are moving on Friday. If you want to read our detailed analysis of these stocks, go to read Why These 10 Stocks Are on the Move on Friday.

5. JD.com, Inc. (NASDAQ:JD) is off around 3% due to its peer Alibaba falling. If Alibaba is worth less, JD.com, Inc. (NASDAQ:JD) could also be worth less based on relative valuation. In addition, many Chinese internet stocks are lower today. Scott Devitt of Stifel has a $100 price target on JD.com, Inc. (NASDAQ:JD) and a ‘Buy’ rating, however.

Tiger Global Management LLC owned almost 51.6 million shares in JD.com, Inc. (NASDAQ:JD) at the end of June.

4. Diamondback Energy, Inc. (NASDAQ:FANG) is up around 2.4% due to WTI futures rising on Friday as well. This month, Diamondback Energy, Inc. (NASDAQ:FANG) announced it has accelerated its plans to return 50% of free cash flow to stockholders to the fourth quarter of 2021. If WTI prices are higher, Diamondback Energy, Inc. (NASDAQ:FANG)’s free cash flow could potentially increase. Of the around 873 elite funds in our database, 38 were long Diamondback Energy, Inc. (NASDAQ:FANG) at the end of the second quarter.

3. Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) is up around 3% due to peer Carnival Corporation providing a better than expected update for Q3. Since they are in the same sector, the same factors may affect both. The number of elite funds in our database that were long Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) rose to 43 in the second quarter from 34 in the first quarter.

2. Costco Wholesale Corporation (NASDAQ:COST) shares are up 2.7% after the company reported revenue of $62.68 billion, up 17% year over year and better than the expected $61.56 billion. Earnings were $3.76 per share, up from $3.51 per share a year ago. Fisher Asset Management owned almost 3.75 million shares in Costco Wholesale Corporation (NASDAQ:COST) at the end of June 30, 2021.

1. Pioneer Natural Resources Company (NYSE:PXD) shares are up almost 3% due to WTI prices increasing. Higher WTI could help the company’s earnings and asset values. The number of elite funds long Pioneer Natural Resources Company (NYSE:PXD) rose by 8 from the prior quarter to 45 at the end of the second quarter.

Disclosure: None.