Why These 5 Stocks Were Trending This Week

In this article we take a look at five stocks that were trending this week. If you want to read our detailed analysis of these stocks, go to read Why These 10 Stocks Were Trending This Week. 

5. Chevron Corporation (NYSE:CVX) is in the spotlight due to the expected OPEC+ meeting on October 4, 2021. With the strong economic recovery in many countries, oil prices have rebounded and Chevron Corporation (NYSE:CVX)’s profits have benefited. With oil prices near a 3 year high, many in the market will look for OPEC+ for guidance over future potential supply. Of the around 873 elite funds in our database, 50 were long Chevron Corporation (NYSE:CVX) at the end of Q2.

4. Dollar Tree, Inc. (NASDAQ:DLTR) soared around 15% this week given it said it will price some items at $1.25 and $1.5 in some of its stores. The company traditionally sold items for $1 or less. With the higher prices, the market is anticipating potentially higher revenues and profits for Dollar Tree, Inc. (NASDAQ:DLTR). The number of elite funds in our database that were long Dollar Tree, Inc. (NASDAQ:DLTR) rose to 42 in the second quarter from 41 in the first quarter.

3. Bed Bath & Beyond Inc. (NASDAQ:BBBY) was in the spotlight this week after the company reported underwhelming earnings of adjusted profit of $0.04 per share for Q2, versus estimates of $0.52 per share. Sales for the period were $1.985 billion, versus the consensus of $2.06 billion. Of the around 873 elite funds in our database, 21 were long Bed Bath & Beyond Inc. (NASDAQ:BBBY) at the end of Q2.

2. Apple Inc. (NASDAQ:AAPL) is trending after Bloomberg published an article that speculated that rising interest rates could be a headwind for big tech stocks like Apple. Although Apple has many competitive advantages, some investors could rotate out of Apple and into Treasuries if rates were higher. Warren Buffett’s Berkshire Hathaway owned more than 887.1 million shares of Apple Inc. (NASDAQ:AAPL) at the end of June.

1. Microsoft Corporation (NASDAQ:MSFT) is also trending due to the Bloomberg article that speculated rising rates could be a headwind for big tech. Although the 10 year Treasury yield is low now, it is expected to rise in the future as things normalize. Billionaire Steve Ballmer owns substantial shares in Microsoft Corporation (NASDAQ:MSFT).

Disclosure: None.