In this article, we take a look at five stocks that are gaining today. If you want to take a look at some more stocks that are trending today and the latest market situation, go to Trending Stocks on Tuesday: Top 10 Gainers.
5. Peabody Energy Corporation (NYSE:BTU) has climbed 1.8% as of 12:20 PM ET after reports that the EU is working towards banning coal imported from Russia. However, the timing of the proposed ban is unclear. This development takes place at a time when French President Macron is calling for a ban on Russian crude oil and coal imports. Germany is the biggest consumer of coal in the EU and is willing to ban Russian coal imports. The trade of coal between Russia and Germany takes up 7% of the globally traded volume of coal. A possible ban would adversely impact Russian coal producers and be a positive development for all other coal producers, such as Peabody Energy Corporation (NYSE:BTU), globally.
As of Q4 2021, Peabody Energy Corporation (NYSE:BTU) was held by 28 hedge funds.
4. Carnival Corporation & plc (NYSE:CCL) has risen 2.9% as of 12:18 PM ET after the Miami, Florida-based cruise line company announced that the week between March 28 and April 3 was the busiest in the history of Carnival Corporation & plc (NYSE:CCL). The company observed a double-digit rise from the previous highest seven-day booking total. Carnival Corporation & plc’s (NYSE:CCL) 22 out of 23 ships are back in operation. The Carnival Splendor, the only ship not in operation, will return on May 2.
Of the 924 hedge funds in Insider Monkey’s database, Carnival Corporation & plc (NYSE:CCL) was held by 33 funds at the end of Q4 2021.
3. Twitter, Inc. (NASDAQ:TWTR) has soared 3% as of 12:17 PM ET after the stock price of the company closed up more than 27% yesterday after Tesla, Inc. (NASDAQ:TSLA) founder and CEO Elon Musk revealed a 9.2% stake in Twitter, Inc. (NASDAQ:TWTR).
The stock is further rising today after it was reported that Elon Musk would serve on the Board of Directors of Twitter, Inc. (NASDAQ:TWTR) as a Class II director. His term will come to an end at the annual shareholder’s meeting in 2024. As a member of the Board, Musk can own, at most, a stake of 14.9% in Twitter, Inc. (NASDAQ:TWTR). Musk also tweeted that he intends to work closely with the current CEO Parag Agarwal and the rest of the Board to make significant improvements to the company in the coming months. As of Q4 2021, Twitter, Inc. (NASDAQ:TWTR) was held by 83 hedge funds.
2. Allego N.V. (NYSE:ALLG) is up 13.5% as of 12:19 PM ET after news that General Motors Company (NYSE:GM) and the Japanese Honda Motor Co., Ltd. (NYSE:HMC) will come together to manufacture a series of EV that will be priced below the $30,000 level. This will favor a company like Allego N.V. (NYSE:ALLG) as it is a leading provider of EV charging facilities across Europe through its 28,000 EV charging stations. Allego N.V. (NYSE:ALLG) went public on March 17 following its merger with SPAC Spartan Acquisition III.
1. Southwestern Energy Company (NYSE:SWN) has gained 2.5% as of 12:22 PM ET after natural gas prices in the US jumped more than 7% despite mild weather across the country. According to EBW Analytics Group, there has been a significant decline in natural gas production in the US. Southwestern Energy Company (NYSE:SWN) stock also received positive ratings in the last week as John Freeman at Raymond James and Nick Pope at Seaport Global gave a Buy rating with a price target of $9. The target price reflects a potential upside of over 20% from the last closing price.
Overall, 24 hedge funds held a stake in Southwestern Energy Company (NYSE:SWN) at the end of Q4 2021, up from 22 in the previous quarter.
You can also take a peek at the 10 Stocks to Buy Before Stagflation Begins and 10 Stocks Trending on Robinhood.
