Buzz Stocks: Apple Inc., Home Depot Inc, and Praxair, Inc.

Today's stocks to watch in the news include Apple Inc. (AAPL), Home Depot Inc (HD), and Praxair, Inc. (PX)

Aug 16, 2016 at 9:27 AM

BRK.A
PX
HD
AAPL

Stocks in the U.S. are set to pull back after Monday's record finish. Among equities in focus today are tech titan Apple Inc. (NASDAQ:AAPL), retail stock Home Depot Inc (NYSE:HD), and industrial gas supplier Praxair, Inc. (NYSE:PX).

AAPL is just 0.2% higher ahead of the bell on news that Warren Buffett's Berkshire Hathaway Inc. (NYSE:BRK.A) increased its stake in the company by 55% to 15.2 million shares. However, Soros Fund Management dissolved its stake in the company, while Greenlight Capital reduced its holdings. This follows similar news from yesterday, with hedge funds adding new stakes in other high-profile companies (and exiting others) during the previous quarter. Meanwhile, CEO Tim Cook said the company is increasing its investments in China. Apple Inc. closed Monday at $109.48, sitting on a modest 4% year-to-date lead, but its overhead 320-day moving average capped yesterday's gains and remains a potential obstacle. Any display of doubt from analysts could easily send the stock lower, as roughly 86% of the brokerage firms covering AAPL still rate it a "buy" or better.

HD is slightly lower pre-market following its second-quarter earnings report, which met analyst estimates. Surprisingly, Home Depot Inc hasn't gotten a boost from its upwardly revised full-year outlook. That said, the stock closed at $137.06 on Monday, not far off its Aug. 1 record high of $139. Bearish betting has been popular in the options pits, per HD's 50-day put/call volume ratio of 1.13 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) -- just 5 percentage points from an annual high. An unwinding of this pessimism could create tailwinds for the shares, sending them to fresh highs.

PX is 4.4% higher in pre-market trading after closing Monday at $118.03. Reports surfaced overnight that the company is in merger talks with German peer Linde AG. A deal between the two firms would create the largest supplier of industrial gas in the world, if approved by antitrust regulators. Praxair, Inc. has had a strong year so far, adding 15.3% in 2016, and bears appear to be heading to the exits. Specifically, short interest on the stock fell by more than 20% during the two most recent reporting periods. Still, the remaining 1.3% of PX's float sold short would take nearly a week to cover, at the equity's typical daily volumes.

Don't miss the market's next move! Sign up now for Schaeffer's Midday Market Check

Follow @Schaeffers

Are You Ready for AI's Potential Supercycle Phase?
Amazon's Jeff Bezos surprised investors when he revealed that one emerging technology is the key to Amazon's future success... This technology could be worth $80 trillion by 2030. Learn more and join Motley Fool's Stock Advisor for 50% off!

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here

Featured Articles from Trusted Partners:

👀Learn How Dividends Create Passive Income for Life
Receive $200 Off Motley Fool Epic. The Motley Fool Epic $299 discounted offer is based on $499/year list price. Introductory promotion for new members only. Take control of your money and your portfolio with Motley Fool Epic.

💵New Income System Could Pay You $4,243 Monthly
You could collect an average of $4,243 per month starting as early as next week with a new payout system for income investors. New registrations are being accepted for investors who want to be in a position to start with their first payout next week.

🚀Easy 92% Crypto Dividends (No Coins Required)
COIN stock doesn't pay a dividend... But there's actually a new way to collect a massive dividend that's indirectly based on the stock and offers a terrific monthly income (currently yielding nearly 92% on a forward basis).

🤝Free Advisor Match with Wiseradvisor.com
Don't leave your retirement to chance! Get matched with a trusted financial expert for FREE and make the most of your tax refund. Get started now.

⚠️Dennis Quaid's #1 Warning for Americans
Here's the thing: life doesn't come with guarantees. The economy shifts, markets stumble, and years of hard work could slip through your fingers like sand. But it doesn't have to be that way for you. So request a free copy of this Gold & Silver Guide that will arrive right to your doorstep when you act now.