In this article, we take a look at five stocks that are in the spotlight on Thursday. If you want to read our detailed analysis of these stocks, go directly to Why These 10 Stocks Are in the Spotlight on Thursday.
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. (NASDAQ:JD). At the end of Q4 2021, 67 hedge funds owned a stake in JD.com, Inc. (NASDAQ:JD), 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 (NYSE:MCD) 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 (NYSE:MCD) bottom line for years. McDonald’s Corporation (NYSE:MCD) 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 (NYSE:MCD) 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. (NASDAQ:CRWD) 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. (NASDAQ:CRWD) as of Q4 2021.
1. Asana, Inc. (NYSE:ASAN) 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. (NYSE:ASAN) 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. (NYSE:ASAN) 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. (NYSE:ASAN), 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.
