Tepper Bet KBR Dives Following Rough Earnings Report

KBR midday

Today’s midday gainers are 58.com Inc (ADR) (NYSE:WUBA), dELiA*s, Inc. (NASDAQ:DLIA) and Opko Health Inc. (NYSE:OPK). The losers are KBR, Inc. (NYSE:KBR), Sothebys (NYSE:BID) and Endo Health Solutions Inc (NASDAQ:ENDP).

58.com Projections Please Investors

Up 13.12%, our largest gainer of the day is 58.com Inc (ADR) (NYSE:WUBA), a Chinese company that operates an online classifieds platform. WUBA released its Q1 revenue projections today, outdoing analysts’ expectations. Tiger Global holds a 0.14% allocation in WUBA.

Back on the gainers list is dELiA*s, Inc. (NASDAQ:DLIA), up +8.99%. The company continues to recover from its 2013 losses and is now up +23.91% for the year. The Tiger Global and Leon Cooperman bet is also backed by several several other hedge funds.

Last up is Opko Health Inc. (NYSE:OPK), a biopharmaceuticals and diagnostics company that increased +6.31%. The jump comes on the heels of the news of the company CEO’s share purchase and the arrival of several of its products at the final trial and approval stages.  George Soros holds a minor stake in OPK.

KBR Pays Price for Poor Earnings

Global engineering and construction company KBR, Inc. (NYSE:KBR) is the biggest midday loser this Friday. Its stock price dipped -14.68% following the release of some rough earnings results. This is not good news for billionaire David Tepper, whose fund is betting on KBR.

Following KBR is auctioning company Sothebys (NYSE:BID), which fell -7.68%. Just yesterday, news broke of a plan for a proxy fight orchestrated by Third Point Capital’s Daniel Loeb, who will be bidding for seats in the company’s board of directors. One of the nominees is Loeb himself who, who has an 8.06% allocation in Sotheby’s.

Also having a tough Friday is Endo Health Solutions Inc (NASDAQ:ENDP), down -6.12% after announcing the departure of its Chief Scientific Officer. It also has been held liable in a criminal and civil suit regarding the marketing of products for unapproved uses and will have to pay a $192.7 million fine.

 

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