MGT Capital Investments Inc. (MGT), Resolute Energy Corp (REN) & More: Why These Stocks Are Making Moves Today

Terex Corporation (NYSE:TEX) shares have climbed by over 5% today after it received a double ratings upgrade from Bank of America/Merrill Lynch. The firm’s rating on the stock  has been bumped up two notches to ‘Buy’ from the previous rating of ‘Underperform’. Bank of America’s price target on the stock was also hiked to $29 from $21. Bank of America stated that the company is likely to benefit greatly from the sale of its Material Handling and Ports Solutions to Konecranes for $1.3 billion, as it will provide the company with enhanced financial flexibility. Bank of America believes it’s possible that the company will divest the rest of its construction assets in the near future. 31 hedge funds in our database have long positions in Terex Corporation (NYSE:TEX) as of June 30, valued at $259 million. Those figures were far below the $489 million in Terex stock held by 38 hedge funds on March 31.

ContraVir Pharmaceuticals Inc. (NASDAQ:CTRV) is currently trading 34% in the green on the news of positive interim results from its HBV drug, CMX157. For the first evaluation, patients treated with CMX157 experienced an average HBV viral load reduction of 99% compared to baseline. The observed antiviral activity for CMX157 is comparable to that observed in patients treated with Gilead Sciences, Inc. (NASDAQ:GILD)’s Viread, even with a dose over 90% smaller. However, active tenofovir levels observed in patients’ blood was significantly lower with CMX157 than with Viread. None of the hedge funds that we track were shareholders of ContraVir Pharmaceuticals Inc. (NASDAQ:CTRV) at the end of June.

Viacom Inc. (NASDAQ:VIA) is trading marginally higher on the news that it has appointed three banking advisers to help it explore a merger with CBS Corporation (NYSE:CBS), from which it split in 2006. The news follows Viacom forming a special committee last month to consider the proposal made by Sumner Redstone’s National Amusements, which owns 80% of the voting shares of each company. 41 hedge funds in our database held about $1.23 billion worth of Viacom Inc. (NASDAQ:VIA) stock as of the end of June.

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