Why Are These Stocks Posting Gains on Monday?

Along with this bullish movement, Nokia Corporation (ADR) (NYSE:NOK) shares are up today by almost 4%. Last week, Nokia said it expects the elucidation of the deal with Samsung, by which it would receive a monetary compensation. Hedge funds have been more optimistic about the stock recently, with 24 hedge funds long Nokia Corporation (ADR) (NYSE:NOK) at the end of the third quarter, up from the 23 funds long the stock at the close of the previous quarter. Jeffrey Tannenbaum ‘s Fir Tree cut its stake by 28% in the quarter to 15.97 million shares worth $108.2 million, as reported in its latest 13F filing.

Follow Nokia Corp (NYSE:NOK)

Last but not least on our list is AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO), whose shares are up by 30% after the company entered into a license agreement with EUSA Pharma for cancer treatment with its tivozanib product. Under the agreement, EUSA will pay $2.5 million for the rights to the treatment and will pay royalties that could reach $394 million. Among the funds we follow, seven reported long positions in AVEO Pharmaceuticals as of the end of September, down by eight funds from a quarter earlier. Alex Denner‘s Sarissa Capital Management is the largest shareholder of the company among the investors we follow, owning 2.3 million shares valued at $2.8 million.

Follow Aveo Pharmaceuticals Inc. (NASDAQ:AVEO)

Disclosure: none.