In this article we will take a look at the some of notable stocks trending today. You can skip our detailed analysis of these stocks and go to read Why These 5 Stocks Are Trending on Friday.
Among the stocks that have the spotlight on them on Friday include International Business Machines Corporation (NYSE:IBM), Netflix, Inc. (NASDAQ:NFLX), General Motors Company (NYSE:GM), Toyota Motor Corporation (NYSE:TM), General Electric Company (NYSE:GE), Alibaba Group Holding Limited (NYSE:BABA), and Facebook, Inc. (NASDAQ:FB). Let’s analyze why each stock is trending and how elite funds are positioned among them.
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10. General Motors Company (NYSE:GM) is trending because the company reported U.S. sales of 446,997 vehicles in the third quarter, down 218,195 units from the same period last year. General Motors Company (NYSE:GM)’s third quarter sales were negatively affected by the semiconductor supply shortage and also COVID-19 related supply chain disruptions in Malaysia. Tesla’s Elon Musk believes supply for semiconductors will increase next year and GM stock is up around 0.6% on Friday. Of the around 873 elite funds in our database, 86 were long General Motors Company (NYSE:GM) at the end of Q2.
9. Toyota Motor Corporation (NYSE:TM) is in the spotlight after the company reported U.S. sales of 566,005 vehicles for the third quarter, up 1.4%. Although that’s an improvement, Toyota Motor Corporation (NYSE:TM) is down around 0.3% on Friday. 12 elite funds we track were long Toyota Motor Corporation (NYSE:TM) at the end of the second quarter.
8. General Electric Company (NYSE:GE) has surged 2.8% due to today’s Merck antiviral news. General Electric Company (NYSE:GE) has a leading jet engine business that could benefit if air travel returns to normal faster.
General Electric Company (NYSE:GE) shares are up 26% year to date. The number of elite funds we track that were long General Electric Company (NYSE:GE) fell to 67 at the end of Q2 from 68 at the end of Q1.
7. Alibaba Group Holding Limited (NYSE:BABA) is down 2.7% after Aaron Kessler of Raymond James downgraded the stock to ‘Outperform’ from ‘Strong Buy’. Kessler feels a recovery in Alibaba Group Holding Limited (NYSE:BABA) shares could take longer with the slowing growth in China’s ecommerce and the regulatory environment in China. Ken Fisher‘s Fisher Asset Management owned 14.1 million shares of Alibaba Group Holding Limited (NYSE:BABA) at the end of June, up 2% from the prior quarter.
6. Facebook, Inc. (NASDAQ:FB) is trending after RBC Capital initiated the tech giant with an ‘Outperform’. Analyst Brad Erickson has a $425 price target, writing that he thinks Facebook, Inc. (NASDAQ:FB) is well positioned to transition ‘to a fuller source of online utility’ through multiple product efforts. Billionaire Mark Zuckerberg owns a substantial holding in Facebook, Inc. (NASDAQ:FB).
Like General Motors Company (NYSE:GM), Toyota Motor Corporation (NYSE:TM), General Electric Company (NYSE:GE), Alibaba Group Holding Limited (NYSE:BABA), and Facebook, Inc. (NASDAQ:FB), International Business Machines Corporation (NYSE:IBM) and Netflix, Inc. (NASDAQ:NFLX) are trending.
Click to continue reading and see Why These 5 Stocks Are Trending on Friday.
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Disclosure: None. Why These 10 Stocks Are Trending on Friday is originally published on Insider Monkey.
