In this article, we take a look at five stocks that are in the spotlight on Monday. If you want to take a look at some more stocks that are trending today and the latest market situation, go directly to Why These 10 Stocks Are in the Spotlight on Monday.
5. Alleghany Corporation (NYSE:Y) has gone up 24.8% as of 9:56 AM ET after Warren Buffet’s Berkshire Hathaway Inc (NYSE:BRK-A) announced that it would acquire the New York-based company for $11.6 billion. The acquisition will expand the Oracle of Omaha’s diversified insurance portfolio that already comprises giants like Geico, General Re, and a business unit that handles insurance related to major natural disasters and unusual risks. Alleghany Corporation (NYSE:Y) was held by 33 hedge funds as of Q4 2021.
4. Nielsen Holdings plc (NYSE:NLSN) has plummeted by more than 9.6% as of 10:00 AM ET after the New York-based information, data, and market measurement firm rejected a $25.4 per share or $9 billion acquisition offer from a consortium of private equity firms. The offer represented a premium of only 4% from the last closing price. Nielsen’s Board unanimously thinks that the offer ‘significantly’ undervalues the company. Nielsen Holdings plc (NYSE:NLSN) has announced that it will start share buyback under the previously revealed $1 billion share buyback plan. At the end of Q4, 27 hedge funds held a stake in Nielsen Holdings plc (NYSE:NLSN).
3. Meta Platforms, Inc. (NASDAQ:FB) has fallen 3.4% as of 10:08 AM ET following updates that the Menlo Park, California-based social media giant, is at risk of undergoing an employee turnover following the consistent decline in the stock price. Meta Platforms, Inc. (NASDAQ:FB) has fallen from its all-time high of $380 in September last year to $216.49 on the last close. This reflects a decline of 43% in less than a year. According to an article by New York Post, the employees are paying attention to the declining stock price, and many of them are concerned whether Meta Platforms, Inc. (NASDAQ:FB) would be able to pull out of it. As of Q4 2021, 224 hedge funds had a stake in Meta Platforms, Inc. (NASDAQ:FB) as compared to 248 hedge funds in Q3 2021.
2. ImmunoGen, Inc. (NASDAQ:IMGN) has declined by more than 23.2% as of 10:17 AM ET after the biotech company presented the final results for Mirvetuximab in the treatment of platinum-resistant ovarian cancer. The analysts have not considered the final results favorable. Kennen MacKay at RBC Capital Markets downgraded ImmunoGen, Inc. (NASDAQ:IMGN) from an Outperform to a Sector Perform rating and slashed the price target from $9 to $6. The analyst also lowered Mirvetuximab’s probability of success from 85% to 50%. ImmunoGen, Inc. (NASDAQ:IMGN) was held by 31 hedge funds as of Q4 2021, with a combined value of $502.9 million.
1. Coinbase Global, Inc. (NASDAQ:COIN) is down 6.3% as of 10:47 AM ET after famous short-seller Jim Chanos announced that he is shorting the Wilmington, Delaware-based cryptocurrency exchange company. Chanos has termed Coinbase Global, Inc. (NASDAQ:COIN) a “bubble stock.” Coinbase went public in April 2021 and the stock is already down 25% since its IPO and down 48% from its all-time high. Chanos highlighted that there are numerous stocks in the new economy that offer high growth, real earnings, and cash flows, but some stocks are just in the news due to their stories. In his opinion, Coinbase Global, Inc. (NASDAQ:COIN) is one of those stocks that is being sold on a story. At the end of Q4 2021, 57 hedge funds held a stake in Coinbase Global, Inc. (NASDAQ:COIN).
You can also take a peek at the 10 Penny Stocks with Upcoming Growth Catalysts and 9 Best Clean Energy Stocks To Buy Today.
