Ending the week on a high note are midday gainers Activision Blizzard, Inc. (NASDAQ:ATVI), TripAdvisor Inc (NASDAQ:TRIP) and DryShips Inc. (NASDAQ:DRYS). On the losing side are Energy XXI (Bermuda) Limited (NASDAQ:EXXI), Cigna Corporation (NYSE:CI) and NCR Corporation (NYSE:NCR).
Coleman gets a boost with TripAdvisor
Up +15.90% is game publisher Activision Blizzard, Inc. (NASDAQ:ATVI). The jump comes after its Q4 EPS topped estimates by $0.06 on revenues of $2.27 billion. And although it did lower its guidance for Q1 2014, the market was apparently unfazed. Daniel Loeb has 2.6 million ATVI assets, a 1.08% stake.
Baupost's investment process involves "never-ending" gleaning of facts to help support investment ideas Seth Klarman writes in his end-of-year letter to investors. In the letter, a copy of which ValueWalk has been able to review, the value investor describes the Baupost Group's process to identify ideas and answer the most critical questions about its potential Read More
Online travel platform TripAdvisor Inc (NASDAQ:TRIP) surged +9.64%. A Chase Coleman pick, the stock’s price doubled in 2013 alone. A growing user base and increases in per-page revenues have helped the company to outperform estimates quarter after quarter, and its expansion into Latin American markets render it even more promising.
Last up is DryShips Inc. (NASDAQ:DRYS), which increased +7.63% today. Riding on growth in oil and gas exploration, today’s surge has to do with the biggest one-day rally in the Baltic Dry Index in weeks (the index gathers information on sea route rates for oil carriers). Richard Chilton and George Soros have positions here.
Einhorn Takes Blows from Cigna, NCR
On the negative side, Energy XXI (Bermuda) Limited (NASDAQ:EXXI) is down -10.13%. The company posted net income of $10.4 million today, down from $41.3 million in the same period in 2013. This bit of news has investors running for the hills.
Second to Energy XXI is Cigna Corporation (NYSE:CI), which dipped -8.25%. The stock is one of David Einhorn’s top holdings, composing 6.34% of his fund. Ray Dalio also has a stake in the health services and insurance provider. The company reported an -11% drop in profits today after margins fell and membership declined last quarter.
Coming in third is NCR Corporation (NYSE:NCR), a technology services provider for customer interaction functions. This was again a blow for Einhorn and Dalio, who have 5.13% and 0.01% stakes in the company, respectively. Chilton is also in the mix. The company just announced quarterly and full-year results for 2013 and apparently failed to impress the market.