Why Are Investors Diving Headlong Into These 4 Stocks Today?

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In welcome news, Shaw Communications Inc (USA) (NYSE:SJR) is selling its media assets to Corus Entertainment Inc. (USA) (CJREF) for C$2.65 billion or US$1.9 billion in a deal that should close in the third quarter. Shaw Communications Inc (USA) (NYSE:SJR) is selling its media unit to fund its Wind Mobile acquisition in a move that analysts believe will improve management’s focus and unlock long-term value for shareholders. Cliff Asness‘ AQR Capital Management and Jim Simons‘ Renaissance Technologies are among the 15 elite funds that hold shares of Shaw Communications as of the end of the third quarter. Shaw shares are 7.6% higher today on the news.

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Not to be left out, AEGON N.V. (ADR) (NYSE:AEG) has rallied 8% today on word that it plans to repurchase EUR400 million (or US$432 million) of its stock and cut costs to improve its returns on capital. Management plans to trim expenses in its U.S and Dutch units by EUR200 million by 2018 and is targeting a return on equity of 10%.  Of the 730 elite funds that we track, six of those owned $12.09 million worth of AEGON N.V. (ADR) (NYSE:AEG) shares (accounting for just 0.10% of the float) on September 30, down from seven funds owning $38.41 million worth of shares on June 30.

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Disclosure: None

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