58.com Dips as Investors Cash In

58.com Dips as Investors Cash In

Today’s midday gainers are Violin Memory Inc (NYSE:VMEM), Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) and Novacopper Inc (NYSEMKT:NCQ). The losers are 58.com Inc (ADR) (NYSE:WUBA), RetailMeNot Inc (NASDAQ:SALE) and Autohome Inc (ADR) (NYSE:ATHM).

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Violin Rides High on Revenue Growth Results

Today’s top gainer midday today is Violin Memory Inc (NYSE:VMEM). The George Soros investment pick is up +7.88%. The company released its results late last week, showing revenue growth of +22.51% last quarter.

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Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) is second, its share price having increased +7.73%. A Tiger Global Management bet, the company is a big player in the semiconductors field, especially for panel displays used in mobiles and tablets. Himax is showing strong prospects for growth, and last week’s results didn’t disappoint.

Rounding out today’s list of midday gainers is NovaCopper, up +6.01%.  Novacopper is an exploration-stage company for minerals, with most of its assets in North America. On Friday, the company announced that it will be canceling a public offering of common shares and consider alternative financing methods. Seth Klarman and John Paulson have positions in NCQ.

Investors Cash in on 58.com

Down -8.50% is 58.com Inc (ADR) (NYSE:WUBA). The Tiger Global pick reported strong results last week, and investors are reaping profits today. WUBA is up +38.94% YTD.

Soros pick RetailMeNot Inc (NASDAQ:SALE) slipped -8.15%. The company has been given contradicting ratings by different analysts, going from buy to hold. It is also dealing with the IPO of a competitor last Friday.

Last up is Chinese company Autohome Inc (ADR) (NYSE:ATHM), down -8.03%. Analysts have given it a hold rating, and that will likely change only when results are out in 10 days. Shares are still up +22% YTD. Tiger Global has a stake in ATHM.

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