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Why These 10 Stocks Are Trending on Tuesday

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·3 min read
In this article:
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In this article we will take a look at the some of notable stocks trending today. You can skip our detailed analysis of these stocks and go to read Why These 5 Stocks Are Trending on Tuesday.

Although it's earnings season, the markets are relatively calm with the Dow Jones and S&P 500 up 0.26% and 0.37% respectively. The NASDAQ is up slightly more at around 0.5%. Some stocks trending today include DraftKings Inc. (NASDAQ:DKNG), Lockheed Martin Corporation (NYSE:LMT), Facebook, Inc. (NASDAQ:FB), General Electric Company (NYSE:GE), Tesla, Inc. (NASDAQ:TSLA), Beyond Meat, Inc. (NASDAQ:BYND), and United Parcel Service, Inc. (NYSE:UPS). Let's find out why each stock is in the spotlight and how elite funds are positioned among them.

Why do we care about hedge fund activity? Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 86 percentage points since March 2017. Between March 2017 and July 2021 our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by 86 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

10. Facebook, Inc. (NASDAQ:FB) is down 4.8% after the company reported quarterly earnings of $3.22 per share and sales of $29.01 billion. Analysts were expecting earnings of $3.19 per share and sales of $29.57 billion. Facebook, Inc. (NASDAQ:FB) has also said it will add $50 billion to its share purchase authorization. Facebook, Inc. (NASDAQ:FB) was one of the most widely held stocks among the elite funds we track at the end of Q2.

9. General Electric Company (NYSE:GE) is up 2% after the company reported adjusted EPS of $0.57, versus the consensus of $0.43. General Electric Company (NYSE:GE) also reported sales of $18.43 billion, versus estimates of $19.25 billion. Viking Global owned more than $1.2 billion worth of General Electric Company (NYSE:GE) shares at the end of Q2.

8. Tesla, Inc. (NASDAQ:TSLA) is in the spotlight due to the company achieving the $1 trillion market cap level recently. With the rally, Tesla, Inc. (NASDAQ:TSLA) will need to grow its profits substantially in the future to justify its valuation. Billionaire Elon Musk owns substantial shares in Tesla, Inc. (NASDAQ:TSLA).

7. Beyond Meat, Inc. (NASDAQ:BYND) has fallen more than 1% after Robert Moskow of Credit Suisse downgraded the stock to 'Underperform' from 'Neutral'. The analyst also cut his price target to $75 from $123 on Beyond Meat, Inc. (NASDAQ:BYND). Ken Griffin's Citadel Investment Group owned both put and calls in Beyond Meat, Inc. (NASDAQ:BYND) at the end of Q2.

6. United Parcel Service, Inc. (NYSE:UPS) is up 7.5% after the company reported adjusted diluted EPS of $2.71 and sales of $23.114 billion versus estimates of $2.55 and $22.573 billion, respectively. United Parcel Service, Inc. (NYSE:UPS) also increased its full year margin target to around 13% from the previous 12.7%. The Bill & Melinda Gates Foundation Trust owned more than 2.8 million shares in United Parcel Service, Inc. (NYSE:UPS) at the end of June.

Like Facebook, Inc. (NASDAQ:FB), General Electric Company (NYSE:GE), Tesla, Inc. (NASDAQ:TSLA), Beyond Meat, Inc. (NASDAQ:BYND), and United Parcel Service, Inc. (NYSE:UPS), DraftKings Inc. (NASDAQ:DKNG) and Lockheed Martin Corporation (NYSE:LMT) are trenidng.

Click to continue reading and see Why These 5 Stocks Are Trending on Tuesday.

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Disclosure: None. Why These 10 Stocks Are Trending on Tuesday is originally published on Insider Monkey.