Why These Stocks Are in Spotlight Today

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Merger Changes For Terex 

Terex Corporation (NYSE:TEX)’s stock is almost 9% higher in morning trading after Konecranes scrapped the full merger between the two and agreed to buy Terex’s ports-solutions and material-handling for $820 million in cash and 19.6 million shares instead. That is roughly $1.3 billion based on Friday close prices. The scrapping of the merger allows Terex Corporation (NYSE:TEX) to sell the rest of itself to China’s Zoomlion Heavy Industry Science & Technology instead. Zoomlion previously offered to buy the entire company for $31 in cash per share. It is unclear how much Zoomlion is willing to pay for the rest of the business. A total of 19 funds from our database owned shares of Terex at the end of 2015.

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Analyst Downgrade At Bank of America 

Investors have largely brushed off KBW’s downgrade of Bank of America Corp (NYSE:BAC) today, as shares of the bank are 0.5% in the green in morning trading. The analysts at KBW downgraded the bank to ‘Market Perform’ from ‘Outperform’ noting that Bank of America has tough work to do to improve returns. KBW still has a $16 price target on the shares, however. Investors generally expect Bank of America Corp (NYSE:BAC) to do well if interest rates rise and the economy holds up. Of the 786 elite funds we track, 113 funds owned $6.8 billion of Bank of America Corp (NYSE:BAC) and accounted for 3.90% of the float on December 31, versus 108 funds and $6.45 billion on September 30.

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Caesars Receives Some Bids For Unit

According to various sources, Caesars Entertainment Corp (NASDAQ:CZR) has received several unsolicited offers for its interactive entertainment unit, which includes social gaming, and the World Series of Poker brand, among other businesses. The offers are reportedly in excess of $4 billion. Given that Caesars Entertainment Corp (NASDAQ:CZR) has substantial debt, the company’s management is considering the offer. Shares of the company are flat in morning trading. According to our records, 19 elite funds owned 29.70% of the company’s float at the end of 2015.

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Disclosure: none

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