In this article we take a look at the some of notable stocks that are trending today. You can skip our detailed analysis of these stocks and go to read Why These 5 Stocks Are Trending on Friday.
It’s a mixed day on Wall Street as the Dow Jones is down 0.46% but the S&P 500 and the NASDAQ 100 are up 0.21% and 0.81%, respectively. Some stocks trending on Friday include NIKE, Inc. (NYSE:NKE), Exxon Mobil Corporation (NYSE:XOM), Meta Platforms, Inc. (NASDAQ:FB), NVIDIA Corporation (NASDAQ:NVDA), Intuit Inc. (NASDAQ:INTU), Moderna, Inc. (NASDAQ:MRNA), and Pfizer Inc. (NYSE:PFE). Let’s find out why each stock is in the spotlight and see how elite funds were positioned among them.
Photo by Austin Distel on Unsplash
10. Meta Platforms, Inc. (NASDAQ:FB) is up over 2% as the optimism over the metaverse increases. Although the profitability of the metaverse is still unproven, Meta Platforms, Inc. (NASDAQ:FB) has billions of users and substantial capital to make the metaverse into a reality. The market itself may be pretty optimistic on the metaverse given that shares of NVIDIA Corporation (NASDAQ:NVDA) have surged recently. Billionaire Mark Zuckerberg owns substantial shares in Meta Platforms, Inc. (NASDAQ:FB).
9. NVIDIA Corporation (NASDAQ:NVDA) continued its rally from yesterday by rallying another 3.8% today. Yesterday, NVIDIA Corporation (NASDAQ:NVDA) reported stronger than expected growth given strong demand for AI chips. Demand for NVIDIA Corporation (NASDAQ:NVDA)’s AI chips could grow even further given the future metaverse spending by tech companies. GQG Partners owned 15,135,970 shares of NVIDIA Corporation (NASDAQ:NVDA) at the end of Q3.
8. Intuit Inc. (NASDAQ:INTU) surged 8.79% after the company reported Q1 EPS of $1.53 versus the consensus of $0.99. Sales were $2 billion versus the consensus of $1.81 billion. For FY22, Intuit Inc. (NASDAQ:INTU) sees EPS of $11.48-$11.64 versus the consensus of $11.23. Fundsmith LLP was long 4,582,539 shares of Intuit Inc. (NASDAQ:INTU) at the end of September.
7. Moderna, Inc. (NASDAQ:MRNA) has risen over 7% after the FDA authorized Moderna vaccine booster shots for all adults in the United States. With the approval, Moderna, Inc. (NASDAQ:MRNA) could have more demand. Theleme Partners was among the elite fund holders of Moderna, Inc. (NASDAQ:MRNA) at the end of Q3.
6. Pfizer Inc. (NYSE:PFE) is trending after the FDA also authorized Pfizer Covid vaccine booster shots for all adults in the United States. With more people eligible, Pfizer Inc. (NYSE:PFE) could potentially benefit from more demand too. Renaissance Technologies was long 7,457,601 shares of Pfizer Inc. (NYSE:PFE) at the end of September.
Like Meta Platforms, Inc. (NASDAQ:FB), NVIDIA Corporation (NASDAQ:NVDA), Intuit Inc. (NASDAQ:INTU), Moderna, Inc. (NASDAQ:MRNA), and Pfizer Inc. (NYSE:PFE), NIKE, Inc. (NYSE:NKE) and Exxon Mobil Corporation (NYSE:XOM) are trending.
Click to continue reading and see Why These 5 Stocks Are Trending on Friday.
Suggested articles
Were Hedge Funds Right About Microsoft Corporation (MSFT)?
Were Hedge Funds Right About Amazon.com (AMZN)?
Were Hedge Funds Right About Piling Into Alphabet Inc (GOOGL)?
Disclosure: None. Why These 10 Stocks Are Trending on Friday is originally published on Insider Monkey.
