In this article, we take a look at five stocks that are trending on Wednesday. If you want to read our detailed analysis of these stocks, go directly to Why These 10 Stocks Are Trending on Wednesday.
5. Domino’s Pizza, Inc. (NYSE:DPZ) is down 1% as of 10:14 AM EST after the company received a downgrade from a Buy to a Hold rating from Alton Stump at Loop Capital. The analyst also slashed the target price by more than 22%, from $535 to $413. In a note issued to investors, Stump highlighted that Domino’s Pizza, Inc.’s (NYSE:DPZ) decision to increase the price of its mix and match deal from $5.99 to $6.99 might prove beneficial in the long term, but it will adversely impact the comparable sales of the stores in the short-term. Out of the 924 hedge funds being tracked by Insider Monkey, 31 owned a stake in Domino’s Pizza, Inc.’s (NYSE:DPZ) at the end of Q4 2021.
4. The Boeing Company (NYSE:BA) is up 4.5% as of 10:53 AM ET after the coverage on the Chicago, Illinois-based aerospace and defense company was initiated with a Buy rating by Brian Langenberg at Langenberg. The analyst anticipates international travel to recover to 75% to 80% of the pre-pandemic peak. This will act as an impetus in the faster recovery of the commercial aerospace industry in the near future. Overall, 50 hedge funds held a stake in The Boeing Company (NYSE:BA) as of Q4 2021.
3. United Airlines Holdings, Inc. (NASDAQ:UAL) has risen 12.2% as of 11:01 AM ET on the sentiment that a potential meeting between the foreign ministers of Russia and Ukraine can pave the way to a settlement and end the conflict that has taken center stage globally. Despite the risk of inflation and rising interest rates looming over the consumers, experts think that the US consumer is strong, and even an increase in crude oil prices will not harm the spending pattern of the US household. Of the 924 hedge funds in our database, 35 held a stake in United Airlines Holdings, Inc. (NASDAQ:UAL), up from 30 in the previous quarter.
2. Exxon Mobil Corporation (NYSE:XOM) has dipped more than 3% as of 11:08 AM ET after the price of Brent crude declined 4.9% on the expectation of positive developments due to a potential meeting between the Russian and Ukrainian foreign ministers. Furthermore, Ed Morse at Citigroup anticipates crude oil prices to fall by 50% to $69 per barrel by the end of this year. The analyst anticipates a deal with Iran to go through, which will add 800,000 barrels to daily production by December. At the end of Q4 2021, 71 hedge funds had a long position in Exxon Mobil Corporation (NYSE:XOM).
1. Amazon.com, Inc. (NASDAQ:AMZN) is up 1.6% as of 11:22 AM ET following the news that the European Union (EU) antitrust regulators are expected to give the go-ahead to the $8.5 billion acquisition of MGM Studios. A week ago, the European Commission organized a “state of play” meeting regarding the deal. This development comes ahead of the March 15 deadline for a Phase I decision regarding the deal. InsiderMonkey’s proprietary data shows that Amazon.com, Inc. (NASDAQ:AMZN) is the most popular stock amongst the 924 hedge funds in our database. A total of 279 hedge funds have a stake in Amazon.com, Inc. (NASDAQ:AMZN) as of Q4 2021. The hedge funds hold a position of $49.16 billion collectively.
You can also take a peek at the 10 Companies That Topped Profit Expectations and 10 Bank Dividend Stocks to Diversify Your Portfolio.
