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 Thursday.
It’s earnings season and the broader market is higher with the Dow Jones up 0.4%, the S&P 500 up 0.79% and the NASDAQ 100 up 1.06%. Among the stocks trending today include Caterpillar Inc. (NYSE:CAT), Mastercard Incorporated (NYSE:MA), Facebook, Inc. (NASDAQ:FB), Ford Motor Company (NYSE:F), Shopify Inc. (NYSE:SHOP), eBay Inc. (NASDAQ:EBAY), and Teradyne, Inc. (NASDAQ:TER). Let’s find out why each stock is trending and how elite funds were positioned among them.
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10. Facebook, Inc. (NASDAQ:FB) is up 3.4% after the company announced it will change its name to Meta. Recently, Facebook, Inc. (NASDAQ:FB) announced plans to increase its capital expenditures substantially next year to bring the metaverse to life. Facebook, Inc. (NASDAQ:FB) will also change its stock ticker to MVRS on December 1. Facebook, Inc. (NASDAQ:FB) was one of the most widely held stocks in our smart money database at the end of Q2.
9. Ford Motor Company (NYSE:F) is up 8.6% after the company reported adjusted EPS of $0.51 versus the consensus of $0.27. Revenue was $35.7 billion versus the consensus of $32.54 billion. After the earnings report, Michael Ward of Benchmark raised his price target on Ford Motor Company (NYSE:F) to $20 from the previous $18. Out of our database of 873 elite funds, 55 were long Ford Motor Company (NYSE:F) at the end of Q2.
8. Shopify Inc. (NYSE:SHOP) has rallied 7.8% despite missing estimates for Q3. For the period, Shopify Inc. (NYSE:SHOP) earned an adjusted $0.81 per share, versus the consensus of $1.23 per share. Sales were $1.12 billion versus estimates of $1.15 billion. Despite the miss, the market may have been expecting worse numbers. 85 elite funds were long Shopify Inc. (NYSE:SHOP) at the end of Q2, down from 91 at the end of Q1.
7. eBay Inc. (NASDAQ:EBAY) has fallen more than 7% despite stronger than expected Q3 results. For the period, eBay Inc. (NASDAQ:EBAY)’s sales were $2.5 billion, versus the consensus of $2.46 billion, and the company’s adjusted earnings were 90 cents per share versus the estimate of 89 cents per share. 39 elite funds in our database were long eBay Inc. (NASDAQ:EBAY) at the end of Q2.
6. Teradyne, Inc. (NASDAQ:TER) is up more than 10% after multiple analysts upgraded Teradyne, Inc. (NASDAQ:TER). Among them Krish Sankar of Cowen upgraded the stock to ‘Outperform’ from ‘Market Perform’ and set a $150 price target, up from the previous $135. Catherine D. Wood‘s ARK Investment Management owned 2.78 million shares of Teradyne, Inc. (NASDAQ:TER) at the end of Q2.
Like Facebook, Inc. (NASDAQ:FB), Ford Motor Company (NYSE:F), Shopify Inc. (NYSE:SHOP), eBay Inc. (NASDAQ:EBAY), and Teradyne, Inc. (NASDAQ:TER), Caterpillar Inc. (NYSE:CAT) and Mastercard Incorporated (NYSE:MA) are trending.
Click to continue reading and see Why These 5 Stocks Are Trending on Thursday.
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Disclosure: None. Why These 10 Stocks Are Trending on Thursday is originally published on Insider Monkey.
