Why Are Investors Bullish On These Five Stocks On Thursday?

Wall Street is trading lower for the second consecutive day today, but shares of Inventergy Global Inc (NASDAQ:INVT), Dynavax Technologies Corporation (NASDAQ:DVAX), Uniqure NV (NASDAQ:QURE), Zumiez Inc. (NASDAQ:ZUMZ) and J C Penney Company Inc (NYSE:JCP) are trading with big gains. So let’s take a look at the news surrounding these stocks today and see the hedge fund sentiment towards them.

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The first on the list is Inventergy Global Inc (NASDAQ:INVT), whose stock has more than doubled, after the company announced that it reached an agreement with its patent partner Panasonic Corporation. Under the terms of the accord, the guaranteed minimum payments and related accrued interest will be eliminated. In this way, the company has lowered by $17.3 million its liabilities and has eliminated $1.0 million of accrued interest expense (financial data as of December 31). Moreover, reducing the liabilities makes the company avoid $120,000 per month of future interest expense. Future payments will be based on monetization transactions, such as licensing and sales deals. Among the funds we track, Inventergy Global is not very popular with only two funds reporting long positions equal to 1.4% of the company as of the end of September.

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