What Put These Five Stocks in the Spotlight on Friday?

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On the other hand, KeyCorp (NYSE:KEY)‘s stock is over 6% in the red after the company said that it will acquire First Niagara Financial Group Inc. (NASDAQ:FNFG) in a $4.1 billion deal that involves 0.68 shares of KeyCorp and $2.30 in cash for each share of First Niagara. The deal values First Niagara at $11.40 per share and represents one of the largest deals among U.S regional banks. First Niagara Financial Group Inc. (NASDAQ:FNFG)’s stock jumped in pre-market, but has since retracted to around 0.39% in the green as the decline in KeyCorp’s own stock price lowers the value of the deal for First Niagara shareholders. Our data shows that hedge funds from our database were more fond of KeyCorp (NYSE:KEY), as 37 funds held shares of the company, versus 25 for First Niagara.

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New York Community Bancorp, Inc. (NYSE:NYCB) is another stock that has extended its losses into a second day, currently trading around 3% lower on the day. The company announced yesterday that it will acquire Astoria Financial Corp (NYSE:AF) in a cash-and-stock deal worth $2.0 billion. Under the terms of the merger, Astoria Financial Corp (NYSE:AF) shareholders will receive $0.50 in cash and one share of New York Community Bancorp, Inc. (NYSE:NYCB) for each share of Astoria. The funds from our database are underweight New York Community Bancorp, Inc. (NYSE:NYCB), as just 14 funds reported stakes worth 1.30% of the company’s value as of the end of June. Louis Navellier‘s Navellier & Associates holds some 22,100 shares of New York Community Bancorp as of the end of September.

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Disclosure: None

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