It was a positive day for the markets, which helped today's largest percentage gainers. Today's top 3 made significant moves higher.
I am not recommending these stocks at this time since they don't meet my quality criteria for my typical analysis. I am providing this update so that investors can do additional research if desired.
Today's largest percentage gainer was Inventergy Global (INVT), which increased by an incredible 92%. Inventergy released its strategy and highlighted 2015 transactions. CEO, Joe Beyers, stated how the company's $6 million in transactions in 2015 show the strength of Inventergy's patent portfolio, which represents additional opportunities for the future. The company has over 700 worldwide patents that can be applied to the following 4 segments: mobile/end user devices, mobile infrastructure (cellular base stations), Voice over Internet Protocol [VoIP] & IP multimedia subsystems, and cellular service providers. The aggregate annual revenue from these segments is over $200 billion, which is a large market for the company's patents.
The 2nd largest percentage gainer was Blount International (BLT), which increased 84%. Blount entered into an agreement to be bought out by American Securities and P2 Capital Partners. The deal states that Blount shareholders will receive $10 per share. The proposed deal is expected to close in the first half of 2016. Blount is a global manufacturer of forestry, lawn, garden, and agriculture equipment.
The 3rd largest percentage gainer was security company, LoJack (LOJN), which rose 49% today. LoJack received an offer from a company that I previously wrote about in a Pro article, CalAmp (CAMP). Under the deal, CalAmp is proposing to aquire LoJack for $5.50 per share. Shares of CalAmp are up about 41% since I recommended the stock.
Keep your eye on BLT and LOJN for arbitrage opportunities. They are both trading slightly under the takeover prices.
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