Why These 10 Stocks Are on the Move on Monday

Published September 20, 2021 at 3:50 pm EDT Updated September 7, 2026 at 1:36 pm EDT

In this article we will take a look at the some of notable stocks on the move today.

It has been a volatile beginning of the week so far with all three major indexes down considerably. Overseas, there are worries that China’s property market could slow further due to the developments around the Chinese property developer Evergrande. Domestically, there is more caution with the Fed meeting this week.

Among the stocks also on the move on Monday are Freeport-McMoRan Inc. (NYSE:FCX), Pfizer Inc. (NYSE:PFE), Occidental Petroleum Corporation (NYSE:OXY), JPMorgan Chase & Co. (NYSE:JPM), and United States Steel Corporation (NYSE:X). Let’s analyze further and find out how the smart money is positioned among them.

Why do we care about hedge fund activity? Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 86 percentage points since March 2017. Between March 2017 and July 2021 our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by 86 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

10. Freeport-McMoRan Inc. is down more than 6% due to the weakness in copper futures.

Because China imports a substantial amount of copper for its property market, any slowdown or potential slowdown in the nation’s property market would not be good for copper demand. With Evergrande’s debt troubles, there is more uncertainty in that sector and as a result, copper futures are down more than 3.4% on Monday. Given Freeport-McMoRan Inc. depends on copper for a substantial part of its business, the company’s stock has declined on Monday as well. Year to date, Freeport-McMoRan Inc. is still up, however.

Of the 873 elite funds we track, 76 were long Freeport-McMoRan Inc. at the end of the second quarter of 2021, up from 68 at the end of the first quarter.

9. Pfizer Inc. is actually up by around 0.5% despite many major indexes down more than 2%.

One reason for Pfizer Inc.’s performance could be that trials have showed that the company’s COVID-19 vaccine is safe and effective when used in children aged 5-11. Pfizer and the company’s partner, BioNTech, plans to submit the data to the FDA ‘as soon as possible’ to potentially gain approval to sell on the market. The number of elite funds we track that were long Pfizer Inc. rose by 2 quarter over quarter to 67 at the end of the second quarter of 2021.

8. Occidental Petroleum Corporation stock is down around 6% due to the broader market sell off and also crude oil futures declining by around 2%.

Like it does for copper, China also imports a lot of oil. If China’s economy slows due to Evergrande, the country’s imports of oil might not be as strong. If demand for oil isn’t as strong, the price of oil might not be as strong either and this would be a headwind for Occidental Petroleum Corporation. Occidental Petroleum Corporation stock is still up considerably year to date, however.

Carl Icahn‘s Icahn Capital LP was a major holder of Occidental Petroleum Corporation with a holding of more than 49.1 million shares at the end of June 30, 2021.

In addition to Occidental Petroleum Corporation, United States Steel Corporation, Freeport-McMoRan Inc., Pfizer Inc. and JPMorgan Chase & Co. are on the move today.

7. JPMorgan Chase & Co. shares are off 3.5% due to the broader market sell off, the caution around the Fed meeting this week, and also a decline in Treasury bond yields. With a leading commercial bank, JPMorgan Chase & Co. generally can find an easier time making more money if yields are higher. 108 elite funds we track owned JPMorgan Chase & Co. in Q2 2021, down 3 from the prior quarter.

6. United States Steel Corporation shares have fallen more than 6% due to the broader market sell off. Although United States Steel Corporation isn’t as affected directly, the potential weakness in China’s property market isn’t good for steel makers in general. If demand in China isn’t as strong, Chinese steel makers could export and increase supply overseas depending on tariffs. As a result, sentiment around United States Steel Corporation may have worsened.

D. E. Shaw‘s D E Shaw owned more than 8.95 million shares of United States Steel Corporation at the end of June 30, 2021.

Like United States Steel Corporation, Freeport-McMoRan Inc., Pfizer Inc., Occidental Petroleum Corporation and JPMorgan Chase & Co. are all on the move.

5. JinkoSolar Holding Co., Ltd. (NYSE:JKS) shares are off around 9.6% due to the broader market sell off and the China economy caution. As a leading Chinese solar developer, it would be easier for JinkoSolar Holding Co., Ltd. to grow and be profitable if China’s economy were strong. If there is more caution around the nation’s economy due to Evergrande, JinkoSolar Holding Co., Ltd could face more headwinds. Given that the solar sector is also pretty volatile, JinkoSolar Holding Co., Ltd.’s stock has moved more than many other stocks today as well.

Of our database of 873 elite funds, 7 were long JinkoSolar Holding Co., Ltd. at the end of Q2, down from 13 at the end of Q1.

4. AstraZeneca PLC (NASDAQ:AZN) shares are up over 4% despite the broader market weakness after the company reported interim analysis of a phase 3 trail around Enhertu. According to AstraZeneca PLC’s trial data, “Enhertu reduced the risk of disease progression or death by 72% vs. trastuzumab emtansine (T-DM1) in patients with HER2-positive metastatic breast cancer”.

Executive Vice President of Oncology R&D at AstraZeneca PLC, Susan Galbraith, also said of the results, “Today’s results are ground-breaking. Enhertu tripled progression-free survival as assessed by investigators, and provided a disease control rate exceeding 95% compared to 77% for T-DM1 in DESTINY-Breast03.”

Raiv Jain‘s Raiv Jain owned 16,632,033 shares in AstraZeneca PLC at the end of June 30.

3. Cleveland-Cliffs Inc. (NYSE:CLF) is off around 10% due to the concerns over a slowing Chinese property market. The broader market weakness may also have caused Cleveland-Cliffs Inc. to decline as well. Despite today’s fall, shares of Cleveland-Cliffs Inc. are still up around 36% year to date.

Ken Fisher‘s Fisher Asset Management was long almost 12.8 million shares of Cleveland-Cliffs Inc. at the end of June 30, 2021.

2. Teradata Corporation (NYSE:TDC) has rallied around 5.3% after Katy Huberty of Morgan Stanley upgraded the stock to ‘Overweight’ from ‘Equal Weight’. The analyst also set a price target of $66 for Teradata Corporation, up from the previous $55. Huberty is more confident in the company’s long term model after her recent meetings with Teradata Corporation’s management.

The number of elite funds in our database that were long Teradata Corporation remained stable from Q1 to Q2 at 26.

1. Dominion Energy, Inc. (NYSE:D) is another stock that’s up in a down market. Dominion Energy, Inc. is up around 0.8% while the S&P 500 is down more than 2% due to the perception that utilities are considered safe haven investments. There is more caution in the market given what’s occurring in China and the Fed meeting this week. If treasury bonds yields fall, leading utilities like Dominion Energy, Inc. could be considered as more attractive by some investors as well.

Diamond Hill Capital raised its position in Dominion Energy, Inc. by 8% from the prior quarter to 3,677,074 shares at the end of June 30.

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