Why These 5 Stocks Are Making Big Moves Today

Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) are trading up by more than 12% today after the company announced that CEO Sehat Sutardja and President Weili Dai are stepping down from their positions, effective immediately. The news was welcomed by investors, as an internal investigation started about a month ago blamed a “tone at the top” for pressuring salespeople to meet financial targets. Furthermore, the company said last Friday that its annual financial report would be delayed, and that it expects “significantly lower” revenue for the year, compared to the previous one.

Not only is the market bullish on Marvell Technology Group Ltd. (NASDAQ:MRVL), but also analysts at Brean Capital, which upgraded the stock to ‘Buy’ from ‘Hold’ today, setting a $12.50 price target on it and arguing that the management changes “will be a catalyst and result in restructuring and/or sales of some or all of its businesses, which we believe will unlock shareholder value.” Among the funds that could be reaping the benefits of a surge in the stock is Cliff Asness’ AQR Capital Management, which disclosed ownership of 22.22 million shares valued at $196 million as of December 31.

Another gainer in Tuesday trading is Valeant Pharmaceuticals Intl Inc (NYSE:VRX), which is up by more than 10.4% after the company said it had completed its internal accounting review and found no additional financial fallout. Company chair Robert Ingram assured that “After conducting more than 70 interviews and reviewing over one million documents, the ad hoc committee has not identified any additional items requiring restatements beyond those matters previously disclosed.” Also helping the stock rise was the announcement that the company plans to issue its annual 10-K filing by April 29.

Bill Ackman’s Pershing Square is one of the largest shareholders of record in Valeant Pharmaceuticals Intl Inc (NYSE:VRX) and has famously suffered heavily from the investment. The fund recently disclosed a 9% stake in the company comprised of about 30.71 million shares, with 9.12 million of those shares underlying over-the-counter American-style call options. In addition to Pershing Square, 82 other funds in our database were long Valeant at the end of the fourth quarter, with their combined stakes accounting for more than a third of the company’s total shares.

Finally, there’s Inventergy Global Inc (NASDAQ:INVT), which is up by roughly 35% on Tuesday afternoon after the company announced its fiscal year 2015 financial results. While the firm posted a net loss of $3.41 per share, revenue of $4.88 million was 577.8% higher than the previous fiscal year. It should be noted that most of the revenue came from the sale of two patent families, for $4 million. Also noteworthy, gross margin rose to 77% in fiscal year 2015 from negative 2% in fiscal year 2014. Among the funds that we track, only two were long Inventergy Global Inc (NASDAQ:INVT) at the end of the fourth quarter. However, on February 8, a third fund, Sander Gerber’s Hudson Bay Capital Management, disclosed a long position in the stock comprising 28,547 shares.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned in this article.