What Is Driving The Growth of These Five Stocks on Thursday?

In the third spot we’ve got Office Depot Inc (NASDAQ:ODP), whose shares are up by 6% amid rumors of a deal with Amazon.com, Inc (NASDAQ:AMZN) that might acquire Office Depot’s corporate business unit to bolster its business division. The deal might also facilitate the planned merger between Office Depot and Staples, Inc. (NASDAQ:SPLS) that is currently blocked by the Federal Trade Commission.

Between October and December, Office Depot Inc (NASDAQ:ODP) witnessed a slight decline in popularity among the funds that we track, with 46 investors holding long positions at the end of December, versus 47 funds a quarter earlier. Among the shareholders of Office Depot is Paul Singer’s Elliott Management, with a position of 13.24 million shares, held at the end of 2015.

Shares of Rofin-Sinar Technologies (NASDAQ:RSTI) have surged by 38% on news that Coherent, Inc. (NASDAQ:COHR) will buy the company for $32.5 per share, which represents a 41.8% premium from yesterday’s close. The $942 million deal is expected to close in the last quarter of 2016.

Among the funds we track, Rofin-Sinar Technologies (NASDAQ:RSTI) is not very popular with only 13 funds having amassed 10.4% of the company at the end of 2015. Among them is Chuck Royce’s Royce & Associates was the top shareholder in our list, with 1.66 million shares held at the end of December.

Last but not least, Amira Nature Foods Ltd (NYSE:ANFI)’s stock is 15% in the green, on volume above average. However, no significant news seem to be behind the jump. Earlier today, crowdsourced stock rankings platform Vetr has upgraded the stock to ‘Strong Buy’ from ‘Buy’ with a price target of $13.57.

Only five funds from our database are long Amira Nature Foods Ltd (NYSE:ANFI) at the end of the fourth quarter, including billionaire David E. Shaw’s D. E. Shaw, which owns 79.290 shares of Amira Nature Foods Ltd (NYSE:ANFI), according to its last 13F filing.

Disclosure: None