Why These 10 Stocks Are in the Spotlight on Thursday

Published March 10, 2022 at 3:06 pm EST Updated September 7, 2026 at 2:04 pm EDT

In this article, we will discuss some of the popular stocks trending today.

All the three major indexes were in the red today, as of 11:44 AM ET. The equity markets are down after no positive development related to the ceasefire was announced following the meeting of the Russian and the Ukrainian foreign ministers. Meanwhile, in the US, the CPI reached a four-decade high. McDonald’s Corporation (NYSE:MCD), JD.com, Inc. (NASDAQ:JD), and Asana, Inc. (NYSE:ASAN) are some of the stocks on the move today.

Let’s discuss the stocks in the spotlight today and look at how hedge funds are positioned in them.

10. Amazon.com, Inc. (NASDAQ:AMZN) is up over 5.2% as of 9:57 AM ET after the Seattle, Washington-based e-commerce giant revealed a stock split and a share buyback plan. The Board of Directors of the online retailer approved a 20-for-1 stock split and a share repurchase plan of $10 billion. The stock split will be presented to shareholders on May 25. If the plan is approved, the stock split is expected to take place on June 6. Deepak Mathivanan at Wolfe Research termed the development as ‘positive,’ despite the company facing significant headwinds due to rising fuel prices. He has given Amazon.com, Inc. (NASDAQ:AMZN) stock an Overweight rating with a target price of $4,200. As of Q4 2021, 279 hedge funds held a stake in Amazon.com, Inc., with a combined value of $49.16 billion. Codex Capital is the leading hedge fund investor in Amazon.com, Inc., with a holding of over $9.43 billion.

9. CF Industries Holdings, Inc. (NYSE:CF) has risen 7.2% as of 10:06 AM ET following the news that Russia has decided to suspend the exports of fertilizers temporarily. The announcement was made by Russian Industry Minister earlier today. The decision is made to overcome the possibility of higher food prices in the Russian market. Russia provides 14% of the world’s urea and caters to 21% of the potash demand globally. Following this development, the stock price of CF Industries Holdings, Inc. (NYSE:CF) is surging as US fertilizer manufacturers have a benefit of cheaper natural gas in comparison to their European and Asian counterparts. Of the 924 hedge funds in our database, 58 hedge funds had a position in CF Industries Holdings, Inc. at the end of Q4 2021.

8. Tesla, Inc. (NASDAQ:TSLA) is down 2.4% as of 10:25 AM ET on the possibility that the Dallas, Texas-based electric vehicle manufacturer can suffer significantly from the rise in nickel prices and souring relation between the US and China. These sentiments were shared by Alexander Potter at Piper Sandler. The analyst also highlighted the strength shown by Tesla, Inc.’s (NASDAQ:TSLA) Shanghai factory, reflected by the weekly sales and production numbers issued by the China Passenger Car Association. Potter has given Tesla, Inc. (NASDAQ:TSLA) stock an Overweight rating with a price target of $1,350. According to data compiled by Insider Monkey, 91 hedge funds had a stake in Tesla, Inc. with a cumulative value of $12.91 billion.

7. The Kroger Co. (NYSE:KR) is 2.4% in the green as of 10:32 AM ET after the Cincinnati, Ohio-based grocery retailer received an upward revision in price target by Patricia Baker at Scotiabank. The analyst increased the price target on The Kroger Co. (NYSE:KR) from $60 to $64 and maintained an Outperform rating. Baker highlighted that during the investor day, the company reiterated its aim of delivering an 8% to 11% annual shareholder return. The analyst pinpointed the success of “Restock Kroger” and shared that the transformation through this plan should provide confidence to investors that The Kroger Co. could deliver on its strategic agenda. Berkshire Hathaway is the leading shareholder in the company, with a stake worth over $2.7 billion. Out of the 924 hedge funds being tracked by Insider Monkey, 41 held a stake in The Kroger Co. as of Q4 2021, up from 39 in the preceding quarter.

6. EOG Resources, Inc. (NYSE:EOG) has soared 2.5% as of 10:38 AM ET after Mark Lear at Piper Sandler increased the price target on EOG Resources, Inc. from $134 to $140 while maintaining an Overweight rating. The analyst highlighted that the US oil and gas exploration and production (E&P) stocks had outperformed the broader market since the beginning of the year. However, the stock price does not incorporate the instability related to crude oil and natural gas supply following the start of the conflict between Russia and Ukraine. At the end of Q4 2021, 51 hedge funds reported owning a stake in EOG Resources, Inc..

Apart from EOG Resources, Inc., McDonald’s Corporation, JD.com, Inc., and Asana, Inc. are some of the stocks that are trending today.

5. The Bank of New York Mellon Corporation (NYSE:BK) has dipped 4.7% as of 10:46 AM ET after the New York-based asset management company announced that CEO Todd Gibbons is planning to retire, just three years after taking up the leadership role. Mr. Gibbons stepped in on an interim basis, initially, in September 2019, when his predecessor Charles Scharf stepped down to lead Wells Fargo. He was made the permanent CEO in March 2020. Vice-Chair Robin Vince will take over as the new CEO after Mr. Gibbons retire on August 31. Mr. Vince has previously worked at Goldman Sachs for over 26 years, where he occupied key positions like the Chief Risk Officer and the treasurer. Of the 924 hedge funds in Insider Monkey’s database, 49 funds held a position in The Bank of New York Mellon Corporation (NYSE:BK) at the end of Q4 2021.

4. JD.com, Inc. (NASDAQ:JD) has fallen 14.4% as of 11:04 AM ET after the Chinese e-commerce giant reported the slowest growth in revenue in the last six quarters. Furthermore, the Beijing-based corporation also reported a quarterly loss following an increase in its operational costs. The slowdown in the Chinese economy has adversely impacted the performances of e-commerce companies like JD.com, Inc.. At the end of Q4 2021, 67 hedge funds owned a stake in JD.com, Inc., up from 66 in the preceding quarter.

3. McDonald’s Corporation (NYSE:MCD) has declined 1.6% as of 11:13 AM ET following a downgrade from Jim Sanderson at Northcoast. The analyst downgraded McDonald’s Corporation stock from a Buy to a Neutral rating and removed his last target price of $297. Sanderson highlighted that the shutting down of operations in Russia and Ukraine would adversely impact McDonald’s Corporation’s bottom line for years. McDonald’s Corporation has been operating in Russia and Ukraine for decades, and during 2021, the stores in these countries contributed $300 million to the operating profits. Closing down stores for even a quarter would lower McDonald’s EPS by eight cents. The burger giant has closed down 850 locations in Russia and 100 locations in Ukraine without a clear timeline as to when these stores will re-open. Out of the 924 hedge funds being tracked by Insider Monkey, 57 held a stake in McDonald’s Corporation as of Q4 2021.

2. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) has surged over 13% as of 11:23 AM ET on the back of better than expected Q4 results and strong guidance for FY23. CrowdStrike reported Q4 revenue and an EPS of $431 million and 30 cents, respectively, which surpassed the consensus estimate of $411 million and 20 cents. For the next fiscal year, CrowdStrike Holdings, Inc. anticipates revenue to be between the range of $2.13 billion to $2.16 billion as opposed to the analysts’ forecast of $2.01 billion. Overall, 74 hedge funds held a stake in CrowdStrike Holdings, Inc. as of Q4 2021.

1. Asana, Inc. is down 23.7% as of 11:40 AM ET despite the company reporting better than expected Q4 FY22 results. The California-based web and mobile work management platform designer revealed that it anticipates higher than expected losses in Q1 FY23. During Q4 FY22, Asana, Inc. reported revenue and loss per share of $111.9 million and 25 cents, respectively, compared to the consensus estimate of $105.1 million and 28 cents. Moreover, Asana, Inc. anticipates a loss per share of 35 cents to 36 cents for Q1 FY23, as opposed to the analysts’ expectation of 27 cents. As of Q4 2021, 31 hedge funds held a stake in Asana, Inc., down from 33 in the previous quarter.

You can also take a peek at the 10 Smart Home Technology Stocks To Buy Today and 10 Best Stocks to Buy According to Stanley Druckenmiller.

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