Polaris, Syntel: Why These 5 Stocks Are Making Big Moves Today

Caesarstone Ltd (NASDAQ:CSTE) shares have rocketed upwards by 13% in afternoon trading after Bloomberg published a story saying that Isreali private equity firm Tene Investment Funds has agreed to purchase 1.00 million shares in Caesarstone from founder/major shareholder Kibbutz Sdot Yam for $43.5 million. Moreover, Tene has the option to purchase 2.00 million shares within the next half-decade. Ten funds in our database had a long position in Caesarstone Ltd (NASDAQ:CSTE) at the end of the second quarter, down by four funds quarter-over-quarter.

VimpelCom Ltd (ADR) (NASDAQ:VIP) is 6.4% in the red after one of its major shareholders, the Norwegian telecom Teleno, announced its intention through an offering held by VimpelCom to sell 142.5 million American Depositary Shares and to grant underwriters the option to purchase an additional 21.375 million ADSs. Although VimpelCom will not receive any cash from the sale by Telnor, traders didn’t like the fact that Telnor was cutting its holdings in the company. Ten funds in our system owned $113.56 million worth of VimpelCom Ltd (ADR) (NASDAQ:VIP) shares on June 30, which accounted for 1.70% of the float.

Syntel, Inc. (NASDAQ:SYNT) has rallied by over 10% today after the tech company’s Board of Directors declared a special, one-time  cash dividend payment of $15 per share to shareholders of record at the close of business on September 22. The dividend will be funded by a one-time repatriation of around $1.24 billion of cash held by the company’s foreign subsidiaries and through borrowings under a new senior credit facility. Due to the repatriation, Syntel is revising its 2016 EPS outlook to a loss of between $0.60 and $0.75 from the previous expectations of a profit of between $2.55 and $2.70. Jim Simons‘ Renaissance Technologies owned almost 700,000 shares of Syntel, Inc. (NASDAQ:SYNT) at the end of June.

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