Today’s midday gainers are Mallinckrodt PLC (NYSE:MNK), InvenSense Inc (NYSE:INVN) and Gold Fields Limited (ADR) (NYSE:GFI). The midday losers are WPX Energy Inc (NYSE:WPX), Dean Foods Co (NYSE:DF) and American Capital Ltd. (NASDAQ:ACAS).
Mallinckrodt Soars Off Acquisition Deal
Up +10.03%, the midday gainer of the day is Mallinckrodt PLC (NYSE:MNK). The surge comes on the heels an announcement that the pharmaceutical company will acquire Cadence Pharmaceuticals (NASDAQ:CADX) as part of a $1.3 billion deal. A week ago, Mallinckrodt announced Q1 2014 per-share earnings of $0.88, beating consensus estimates. With 5.64 million shares as of September, MNK composes 1.6% of John Paulson’s portfolio.
Historically, the Chinese market has been relatively isolated from international investors, but much is changing there now, making China virtually impossible for the diversified investor to ignore. Earlier this year, CNBC pointed to signs that Chinese regulators may start easing up on their scrutiny of companies after months of clamping down on tech firms. That Read More
Next up is hardware provider Invensense Inc (NYSE:INVN), the stock price of which increased +9.65% after Robert W. Baird upgraded its price target from $20.00 to 23.00. Yesterday evening, the company announced it had entered into a cross-licensing agreement with STMicroelectronics (NASDAQ:STM) after a patent war that had halted several projects.
Last up this Tuesday is gold explorer and producer Gold Fields Limited (ADR) (NYSE:GFI), up +8.67%. Today, the company declared the group had produced 21% more gold than in the previous quarter. Both Ray Dalio and Paulson are stakeholders here.
Dean Foods falls short in Q4
Falling -9.75%, our midday loser is WPX Energy Inc (NYSE:WPX). The oil and gas exploration and production giant announced today that its full year earnings would be hurt by $1.4 billion in pretax impairment charges. Both David Einhorn and Leon Cooperman have allocations in this company – WPX composing 1.6% of Einhorn’s fund and 0.62% of that of Cooperman.
Coming in at a close second is Dean Foods Co (NYSE:DF), down -9.04%. A stock market pick for both Thomas Steyer and David Tepper, Dean reported Q4 earnings falling short of expectations. Most of its financial metrics declined steeply despite high dairy prices – an indication that the company sold much less than its competitors.
Rounding out today’s list is American Capital Ltd. (NASDAQ:ACAS), which dipped -7.15%. A venture capital firm specialized in buyouts, American Capital also posted disappointing earnings for Q4. It missed EPS expectations by $0.10, and its quarterly revenue was down -34.4% year-over-year. With 3.78 million shares, ACAS comprises 0.34% of Paulson’s portfolio.