Here’s Why Novavax Inc. (NVAX), United States Steel Corporation (X) and Three Other Stocks Are Gaining Ground on Monday

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Shares of Tech Data Corp (NASDAQ:TECD) and Avent Inc. (NYSE:AVT) have surged by over 16% and 6%, respectively, after the companies announced that Tech Data will acquire Avent’s IT Solutions Group for $2.6 billion. The deal, which includes $2.4 billion in cash and the rest in shares, will help Tech Data Corp in expanding its reach in Asia. At the end of June 16 funds we track held $171 million of Tech Data Corp’s shares, compared to 15 funds holding $311 million of stock a quarter earlier. In Avent, 22 funds amassed shares worth $732 million at the end of June, compared to 18 funds and $726 million, respectively, a quarter earlier.

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