In this article we will take a look at the some of notable stocks in the spotlight today. You can skip our detailed analysis of these stocks and go to read Why These 5 Stocks Are in the Spotlight on Tuesday.
Although the debt limit situation remains unresolved, all three major indexes are higher with the Dow Jones up almost 1.4%, the S&P 500 up nearly 1.5%, and the NASDAQ index up over 1.6%. Among the stocks also in the spotlight today include Netflix, Inc. (NASDAQ:NFLX), PepsiCo, Inc. (NASDAQ:PEP),Facebook, Inc. (NASDAQ:FB), General Motors Company (NYSE:GM), SunPower Corporation (NASDAQ:SPWR), Alphabet Inc. (NASDAQ:GOOGL), and Tesla, Inc. (NASDAQ:TSLA). Let’s find out why each stock is trending and how elite funds are 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. Facebook, Inc. (NASDAQ:FB) has rallied over 1.7% after Facebook apologized for its Facebook, Instagram, and Whatsapp platforms going offline for several hours on Monday. Facebook is used by billions of people and has many opportunities at creating more value by offering more services. Billionaire Mark Zuckerberg owns substantial shares in Facebook, Inc. (NASDAQ:FB).
9. General Motors Company (NYSE:GM) is in the spotlight given the company’s expected investor event this week. In the event, General Motors Company (NYSE:GM) executives are expected to provide financial targets regarding sales, profit margins and outlook on the potential market size of businesses such as self driving taxis. Warren Buffett’s Berkshire Hathaway owned 60 million shares of GM at the end of June.
8. SunPower Corporation (NASDAQ:SPWR) is down by 1.4% after the company announced it bought Blue Raven Solar for up to $165 million in cash. In addition to the acquisition, SunPower Corporation (NASDAQ:SPWR) announced it will focus on growing its residential and light commercial business. D E Shaw owned almost 3.2 million shares of SunPower Corporation (NASDAQ:SPWR) at the end of the second quarter.
7. Alphabet Inc. (NASDAQ:GOOGL) is trending after U.K. filings showed that its DeepMind A.I. lab turned profitable for the first time in its history. According to the filing, the AI research firm, which is owned by Alphabet, made £43.8 million in profits last year. Although DeepMind hasn’t announced that it sells any products to any companies outside Alphabet Inc. (NASDAQ:GOOGL)’s umbrella, the profit is nevertheless an achievement. AI will be a huge market in the future. Alphabet Inc. (NASDAQ:GOOGL) was one of the most widely held ‘smart money’ stocks in our database at the end of June.
6. Tesla, Inc. (NASDAQ:TSLA) is in the spotlight after a San Francisco federal court ordered the company to pay $137 million to an ex worker, Owen Diaz, due to a hostile work environment and racist abuse. Tesla, Inc. (NASDAQ:TSLA) hasn’t immediately indicated whether it will appeal or not. Billionaire Elon Musk owns substantial shares in Tesla, Inc. (NASDAQ:TSLA).
Like Facebook, Inc. (NASDAQ:FB), General Motors Company (NYSE:GM), SunPower Corporation (NASDAQ:SPWR), Alphabet Inc. (NASDAQ:GOOGL), and Tesla, Inc. (NASDAQ:TSLA), Netflix, Inc. (NASDAQ:NFLX) and PepsiCo, Inc. (NASDAQ:PEP) are trending.
Click to continue reading and see Why These 5 Stocks Are in the Spotlight on Tuesday.
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Disclosure: None. Why These 10 Stocks Are in the Spotlight on Tuesday is originally published on Insider Monkey.
