Ply Gem Holdings Inc. (NYSE:PGEM), BioCryst Pharmaceuticals Inc. (NASDAQ:BCRX) and Neuralstem Inc. (NYSEMKT:CUR) are today’s top midday gainers on Wall Street. The losers are Post Holdings Inc. (NYSE:POST), Sotheby’s (NYSE:BID) and Emulex Corporation (NYSE:ELX).
Ply Gem Impresses with Results
Exterior building products manufacturer Ply Gem Holding hit midday up +18.4% following the announcement of its second quarter results this morning. It reported an 11.2% increase in net sales to $409.2 million and per-share earnings of $0.17. David Tepper initiated a position in PGEM during the second quarter of 2013 and reported 423,000 shares as of the first quarter of this year.
BioCryst Pharmaceuticals climbed +9.22% early in the day. JPMorgan initiated coverage on the company today, giving it an overweight rating and a price target of $20. A new Q1 buy for George Soros, BCRX is up +87.57% year-to-date.
Taking the third spot on today’s list of midday gainers is Neuralstem Inc., up +8.58%. The medical research company reported second quarter financial results today, also providing a business and clinical update. Also a Q1 Soros acquisition, Neuralstem is up +14.09% YTD.
Results Reports Send Post, Sotheby’s Plunging
Cereal giant Post Holdings plunged -17.91% midday today after announcing a weak guidance for fiscal year 2014 and posting losses for the most recent quarter. And apparently yesterday’s news that Post is set to acquire peanut butter manufacturer American Blanching Company wasn’t enough to keep investors on board. The Julian Robertson pick has declined -25.9% in 2014.
Sotheby’s fell -9.17% after reporting financial results for the first half of 2014. One major revelation: the company’s proxy battle with Dan Loeb cost it $24.3 million. Sotheby’s is down -30.49% year-to-date.
Storage equipment component maker Emulex was down -7.1% midday, dipping back down after yesterday’s post-results surge. In George Soros’ investment portfolio since the fourth quarter of 2014, Emulex has climbed +5.94% in the past three months, though its price is still down -27.79% YTD.
