Here’s Why These Five Stocks Are Making Headlines Today

Shares of Intersil Corp (NASDAQ:ISIL) are almost 20% in the green after reports emerged that Renesas Electronics  is in talks to buy Intersil. According to The Wall Street Journal, Japan-based Renesas confirmed the talks and the value of the deal could be as high as $3.0 billion, people familiar with the matter said. On the other hand, Intersil declined to comment on the potential deal. At the end of June, 14 funds from our database were long Intersil Corp, including  Ken Griffin’s Citadel Investment Group, which held 1.59 million shares.

Straight Path Communications Inc (NYSEMKT:STRP)’s stock nosedived after the opening bell, but managed to level out and is currently trading 0.50% in the red. The reason for the decline was a Bloomberg article that discussed how missing transmission equipment around the country could lead to the Federal Communications Commission revoking the company’s airwaves rights. After an anonymous report in November 2015, the company had conducted an independent investigation into the matter and said it couldn’t “find any evidence that the equipment used in connection with the substantial service applications is still present at the originally specified locations”. “Aside from this issue – this obviously is a major issue we’re addressing – we think the company is very well positioned,” Straight Path Chief Executive Officer, Davidi Jonas, was quoted as saying in an interview. Eight investors tracked by Insider Monkey held around 5% of Straight Path’s outstanding stock at the end of the second quarter.

CIFC LLC (NASDAQ:CIFC) is up by 58.76% following news that F.A.B. Partners will acquire CIFC in a cash deal worth $333 million. Shareholders of CIFC LLC (NASDAQ:LLC) will receive $11.46 in cash per share, which includes a cash distribution of $0.10 per share. Jeffrey S. Serota, Chairman of CIFC’s Board, said: “We are pleased to have reached this agreement with F.A.B., which follows a thorough review of strategic and financial alternatives that generated interest from over a dozen suitors.” During the second quarter, Israel Englander’s Millennium Management initiated a stake in CIFC that contained 13,702 shares at the end of June.

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