Today’s midday gainers are Vera Bradley, Inc. (NASDAQ:VRA), MakeMyTrip Limited (NASDAQ:MMYT) and Sears Holdings Corp (NASDAQ:SHLD). The losers are International Tower Hill Mines Ltd (NYSEMKT:THM), FireEye Inc (NASDAQ:FEYE) and Allied Nevada Gold Corp. (NYSEMKT:ANV).
Investors Unfazed by Disappointing Results from Vera Bradley
Today’s top gainer is Vera Bradley, Inc. (NASDAQ:VRA). The women’s accessories company’s stock price increased +7.05%, even though it actually brought bad news to the market today, with fiscal Q4 earnings down -23% and missing Q1 guidance expectations. Long-term investors remain unfazed, as Vera Bradley’s stock price is up +17.01% YTD. VRA is a Tiger Global Management pick.
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Editor’s note: This article is part of a series ValueWalk is doing on tail risk hedge funds. The series is based on over a month of research and discussions with over a dozen experts in the field. All the content will be first available to our premium subscribers and some will be released at a Read More
The second gainer of the day is Indian online travel company MakeMyTrip Limited (NASDAQ:MMYT), up +5.8%. The stock has just been given an “outperform” rating by Oppenheimer and recently announced the pricing of a public offering of ordinary shares. The stock is now up +31.52% for the year. MMYT is also a Tiger Global asset.
Last on today’s list of midday gainers is Sears Holdings Corp (NASDAQ:SHLD), up +5.32%. The retail giant announced a planned Lands End spin-off last week. Since then, it has surged +9.17%, narrowing its 2014 losses to -2.05%. Sears is in the investment portfolios of billionaires Edward Lampert and Bruce Berkowitz.
THM and ANV Dip
As for the losers, first on this Wednesday’s list is International Tower Hill Mines, down -8.04%. Although it continues its slide after yesterday’s loss, the share price is still up +148.78% YTD. John Paulson has an allocation in THM.
Second is FireEye Inc (NASDAQ:FEYE), which dipped -4.73%. The company recently got a boost in its target price by analysts and announced yesterday that it would build a new R&D facility in Germany. FEYE, a Tiger Global bet, is up +69.39% this year.
Third on today’s ranking of midday losers is Allied Nevada. Its price fell -4.52%. The mining company provided its financial results for 2013 today, with fourth-quarter results representing almost a third of its yearly business. Mining companies engaged in gold exploration have seen their prices corrected this week, however, as tensions between Russia and Ukraine calm. The share price of ANV is up +60.56% in 2014. Paulson is also a holder here.