Markets slid on Friday amid global growth worries and uncertainties around Brexit. All three main indexes are in the red in the first hours of trading.
Several stocks worth watching today include Monster Beverage Corporation (NASDAQ:MNST), Tesla Motors Inc (NASDAQ:TSLA), Senior Housing Properties Trust (NYSE:SNH), South State Corporation (NASDAQ:SSB), and Southeastern Bank Financial Corporation (OTCQB:SBFC).
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Monster Beverage’s New Soda: Key to Growth?
Monster Beverage Corporation (NASDAQ:MNST) is on the radar of investors today after an article on Barron’s said that the company’s recently launched super soda “Mutant” could provide an impetus to growth to the company’s stock. The California based beverage company is positioning Mutant against Dew. The source said that Monster can tap into the international markets to speed up its growth. Last year, Coca-Cola’s acquisition of 16.7% stake Monster gave the company an access to Coke’s worldwide distribution network, added the report. At the end of March, 31 funds tracked had approximately $1 billion worth of shares in Monster Beverage Corporation (NASDAQ:MNST). Neal C. Bradsher’s Broadwood Capital owns around 1.59 million shares of the company
Tesla Motors Brings Model X to China
Tesla Motors Inc (NASDAQ: TSLA) celebrated the official arrival of its Model X in China at Diaoyutai State Guesthouse, Beijing. China is the first Asian country to receive the electric SUV. According to Tesla’s VP of Asia Pacific, Robin Ren, the company is ahead of schedule of Model X deliveries. Mr. Ren added that the company expects to start deliveries to customers at the end of this month. As of the end of the first quarter 2016, 39 hedge funds from our database were positioned in Tesla Motors Inc (NASDAQ:TSLA), up from 29 funds a quarter earlier. Daniel Benton‘s Andor Capital Management owns 500,000 shares of the company.
On the next page, we take a look at why shares of Senior Housing Properties, South State Corporation and Southeastern Bank Financial Corporation Announce Merger are trending today.
Senior Housing Properties Gets Outperform Rating
Senior Housing Properties Trust (NYSE:SNH) is in the spotlight today after Canadian investment firm RBC Capital upgraded the company to “Outperform” from “Sector Perform”. The firm also increased its price target for the real estate company to $23 from $18. Analysts at RBC Capital think that the Senior Housing’s expected sale of its joint-venture interest in tow office properties in Boston will generate significant gains and improve the company’s stretched leveraged metrics. Billionaire Jim Simons’s Renaissance Technologies is one of the 11 funds long Senior Housing Properties Trust (NYSE:SNH), as of the end of the first quarter. It has 820,200 shares of the company.
South State Corporation and Southeastern Bank Financial Corporation Announce Merger
South State Corporation (NASDAQ:SSB) and Southeastern Bank Financial Corporation (OTCQB:SBFC) announced a joint merger agreement on Friday. According to the deal, shareholders of Southeastern Bank Financial Corporation will receive 0.7307 shares of South State Corporation’s common stock for each share of Southeastern Bank Financial Corporation’s common stock. The merger was unanimously approved by the board of directors of both companies. In a statement, CEO of South State Corporation Robert R. Hill Jr. said that his company is pleased to have a partnership with Georgia Bank & Trust. Mr. Hill added that both companies have very similar cultures and they look forward to enhance customer relationships and services together. Among the funds we track, 14 funds are bullish on South State Corporation (NASDAQ:SSB) as of the end of March this year. Mark Lee’s Forest Hill Capital owns 563,287 shares of the company.
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