Merger Talks and Earnings Are Pushing These 5 Stocks Higher Today

TiVo Inc. (NASDAQ:TIVO) is up by more than 20% this morning on reports of a potential merger with Rovi Corporation (NASDAQ:ROVI). No further details are available, but it is understood that a deal would be a combination of cash and stock and that TiVo shareholders would own approximately 30% of the company. Hedge fund sentiment towards TiVo Inc. (NASDAQ:TIVO) improved significantly during the fourth quarter, as the number of long positions in it increased to 21 from 16 quarter-over-quarter. Together, those funds controlled roughly 11% of the company’s common stock. Peter S. Park‘s Park West Asset Management holds the largest stake in the company among the funds followed by Insider Monkey, having reported ownership of 2.3 million shares as of December 31, up by 130% over the quarter.

Shares of General Steel Holdings Inc (NYSE:GSI) have skyrocketed today on the news that the company has agreed to sell its stake in Maoming Hengda Steel to Tianwu Tongyong for roughly $51 million. According to the deal, approximately $40 million will be paid out within five days following the signing of the agreement, while the remainder will be paid within one year. General Steel said that it expects net proceedings to amount to approximately $70 million. With the stock trading at all time lows, the management of General Steel has started a restructuring of the company, having recently offloaded its steel manufacturing business for $1 million. Jim Simons‘ Renaissance Technologies is the only top hedge fund that reported a stake in General Steel Holdings Inc (NYSE:GSI) as of the end of the fourth quarter, which amounted to 110,640 shares, down by 81% from the end of third quarter.

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