In this article, we take a look at five stocks that are making headlines today. If you want to take a look at some more stocks that are trending today and the latest market situation, go to These 10 Stocks are Making Headlines Today.
5. Hertz Global Holdings, Inc. (NYSE:HTZ) is 4.2% in the green as of 10:30 AM ET after the Estero, Florida-based vehicle rental company announced that it had placed an order to include 65,000 electric vehicles by Polestar in its fleet in the next five years. The financial conditions related to this deal have not been disclosed. However, the vehicles will be added to Hertz Global Holdings, Inc.’s (NYSE:HTZ) fleet in North America and Australia by the end of this year. Polestar is an upcoming EV manufacturer that tripled its volumes last year and intends to double it this year before reaching an annual production of 290,000 vehicles by 2025.
As of Q4 2021, Hertz Global Holdings, Inc. (NYSE:HTZ) was held by 55 hedge funds.
4. Twitter, Inc. (NASDAQ:TWTR) has rocketed 23.9% as of 10:28 AM ET after Tesla, Inc. (NASDAQ:TSLA) founder and CEO Elon Musk revealed a 9.2% stake in the San Francisco, California-based social media giant. With an almost $2.9 billion stake in Twitter, Inc. (NASDAQ:TWTR), Musk has become the company’s leading shareholder.
Last month, Twitter, Inc. (NASDAQ:TWTR) came under criticism by Musk, who claimed that the social media corporation does not follow the principles of free speech and plays a role in undermining democracy.
Of the 924 hedge funds in Insider Monkey’s database, 83 funds had a stake in Twitter, Inc. (NASDAQ:TWTR), with a combined value of $3.13 billion.
3. Crocs, Inc. (NASDAQ:CROX) is 0.3% in the green after the Colorado-based casual lifestyle footwear, and accessories brand was downgraded from a Buy to a Hold rating by Laura Champine at Loop Capital. The analyst also slashed the target price on Crocs, Inc. (NASDAQ:CROX) from $150 to $80, reflecting an upside potential of 5.6% from the last closing price. Champine significantly slashed revenue and EPS estimates, stating that the gross profit margin would come under pressure as Crocs, Inc. (NASDAQ:CROX) cannot continue increasing its prices without using normalized promotions.
As of Q4 2021, 43 hedge funds held a stake in Crocs, Inc. (NASDAQ:CROX), up from 37 in the preceding quarter.
2. Apple Inc. (NASDAQ:AAPL) is up 1.6% as of 10:29 AM ET after David Vogt at UBS highlighted that services like “Apple Music, Apple TV+, and iCloud are increasingly becoming a key differentiator” for Apple Inc. (NASDAQ:AAPL). The analyst polled over 4,000 iPhone users across four different locations and discovered that US-based upgrades and retention remain strong, with the average iPhone handset age hovering around 2.3 years. He further shared that Apple services revenue is also driven by users with higher-end smartphones, such as the iPhone 12 and 13. Following “COVID-related strength,” App Store spending has “moderated,” while Apple Pay usage continues to rise.
At the end of Q4 2021, 134 hedge funds held a stake in Apple Inc. (NASDAQ:AAPL), up from 120 in the previous quarter.
1. Baxter International Inc. (NYSE:BAX) has lost 3% of its value as of 10:31 AM ET after the Deerfield, Illinois-based healthcare company was downgraded from a Neutral to Sell rating by Amit Hazan at Goldman Sachs earlier today. The price target on Baxter International Inc. (NYSE:BAX) was lowered from $88 to $77. The target price is 2% lower than the last closing price. Hazan highlighted the impact of macroeconomic factors and high exposure to resin costs along with crude oil prices as a reason for the downgrade. As of Q4 2021, Baxter International Inc. (NYSE:BAX) was held by 42 hedge funds.
You can also take a peek at the 10 Penny Stocks with Upcoming Growth Catalysts and 10 Mid-Cap Stocks Hedge Funds Are Talking About.
