Today’s midday gainers are Unwired Planet Inc (NASDAQ:UPIP), Nimble Storage Inc (NYSE:NMBL) and Lee Enterprises, Incorporated (NYSE:LEE). The losers are Bitauto Hldg Ltd (ADR) (NYSE:BITA), Qiwi PLC (NASDAQ:QIWI) and American Railcar Industries, Inc. (NASDAQ:ARII).
Soros gains with Unwired Planet
This Thursday’s top gainer is Unwired Planet Inc (NASDAQ:UPIP), an intellectual property and technology company, up +15.01%. Unwired Planet recently announced its plans to sell a part of its portfolio of patents to Lenovo for $100M in cash and the deal continues to drive share prices sharply up. UPIP is part of the portfolio of George Soros.
Second is Nimble Storage Inc (NYSE:NMBL), a provider of data storage solutions, up +8.17%. Although the target price for its shares was cut by analysts firm Wunderlich, it is still above its current level and investors simply shrugged off the cut. Tiger Global Management is a holder of this stock.
And third is Lee Enterprises, Incorporated (NYSE:LEE), a communications conglomerate in the United States, up 4.48%. Shares of Lee ended up down yesterday, -9.79% so this comes as a relief to that slump, produced by the announcement of its pricing of secured debt notes. LEE is in the portfolio of Warren Buffett.
Bitauto Continues Slide Following Q1 2014 Outlook
Our first loser at midday today is Bitauto Hldg Ltd (ADR) (NYSE:BITA), an automobile portal in China, down -8.5%. Although no news have come out in the past days, shares have now racked up a -25.10% fall since the date the company announced its Q1 2014 outlook. Both George Soros and Tiger Global have allocations in BITA.
Second is Qiwi PLC (NASDAQ:QIWI), down -8.24%. Qiwi, a Russian provider of payment services, had its rating reiterated by Morgan Stanley on March 24, although the target price was cut from $35.00 to $32.00. Shares of QIWI can’t seem to catch a break, down -43.11% YTD.
And last is American Railcar Industries, Inc. (NASDAQ:ARII) down -6.51%. A manufacturer of railcars and an asset of Carl Icahn also showed no significant news today but the slump could be a correction in the price, the stock already up +45.11% for 2014.