Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Why Traders Are Watching Amazon, Alphabet, and Three Casino Stocks Today

It’s a relatively quiet morning on Wall Street although three indexes are trading slightly in the green. In addition, the markets in Asia were mainly in the green last night, with the Nikkei 225 leading the charge, rallying 0.83%.

Among the stocks in the spotlight today are five companies, including, Inc. (NASDAQ:AMZN), Alphabet Inc (NASDAQ:GOOGL), Las Vegas Sands Corp. (NYSE:LVS), MGM Resorts International (NYSE:MGM), and Wynn Resorts, Limited (NASDAQ:WYNN). Let’s take a closer look at the catalysts causing each equity to trend and use data from the last round of 13F filings to see how investors from our database were positioned towards them at the end of the second quarter.

Hedge fund sentiment is an important metric for assessing the long-term profitability. At Insider Monkey, we track over 740 hedge funds, whose quarterly 13F filings we analyze and determine their collective sentiment towards several thousand stocks. However, our research has shown that the best strategy is to follow hedge funds into their small-cap picks. This approach can allow monthly returns of nearly 95 basis points above the market, as we determined through extensive backtests covering the period between 1999 and 2012 (see the details here).


Star analyst Gene Munster of Piper Jaffray weighed in on, Inc. (NASDAQ:AMZN) today, saying that Google search trends show’s e-commerce unit growth is tracking up between 25% and 27% versus the Street estimate of between 23% and 26% for the September quarter. Due to that analysis, Munster maintained his $900 price target and ‘Overweight’ rating. Munster believes will continue to gain market share in e-commerce in the near term. In addition, Amazon is also trending after the e-commerce company updated its customer reviews policy to prohibit incentivized reviews unless they are facilitated through the Amazon Vine program. Incentivized reviews were done by people who posted opinions in exchange for a discounted or free product as long as they disclosed that fact. The Amazon Vine program is where Amazon, not the seller or vendor, invites helpful and trusted reviewers on Amazon to post opinions about pre-released and new products. Ken Fisher’s Fisher Asset Management cut its stake in, Inc. (NASDAQ:AMZN) by 21% to just under 2 million shares in the second quarter.

Follow Amazon Com Inc (NASDAQ:AMZN)
Trade (NASDAQ:AMZN) Now!

Traders are watching Alphabet Inc (NASDAQ:GOOGL) as the company is expected to introduce several new hardware products in San Francisco today. Among them will be two flagship phones, Pixel and Pixel XL, as well as the company’s new Daydream virtual reality headset, which according to Variety, could cost as little as $79 (The headset is meant to be used along with the two new flagship phones). If the price of the headset is $79, Alphabet could potential gain valuable market share in a major growth opportunity for the future. In other less positive news, the EU is apparently trying to change Alphabet’s business practices in the continent, as regulators in the area plan to levy substantial antitrust fines according to The Wall Street Journal. Andreas Halvorsen’s Viking Global trimmed its holding in Alphabet Inc (NASDAQ:GOOGL)’s class A stock  by 13% over the quarter to 1.79 million shares held at the end of June.

Follow Alphabet Inc. (NASDAQ:GOOG)
Trade (NASDAQ:GOOG) Now!

On the next page, we examine Las Vegas Sands Corp, MGM Resorts International, and Wynn Resorts Limited.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.