Juniper Networks (JNPR)
Click to Enlarge Activist Investor: Paul Singer (Elliott Management Corp.)
Next on my list is network infrastructure solutions provider Juniper Networks (JNPR).
Juniper Networks made headlines on Jan. 13 when activist hedge fund Elliott Management Corp. announced that it has accumulated a 6.2% stake in JNPR stock. The hedge fund is looking to push Juniper into stock buybacks and cost-cutting programs, and also is seeking talks with management as well as its board.
On the chart, Juniper’s rally after the announcement has firmly broken it past a 12-month-long resistance line and into an area of attraction (see the blue zone on the chart). While potentially near-term overextended, JNPR stock does look to have support for a move toward the low $30s.