J.C. Penney Surges Midday as Horizon Brightens

J.C. Penney Surges Midday as Horizon Brightens

Northstar Realty Finance Corp. (NYSE:NRF), J.C. Penney Company, Inc. (NYSE:JCP) and Charter Communications, Inc. (NASDAQ:CHTR). have started off the week strong and are today’s top gainers midday. On the losing end are Applied Micro Circuits Corporation (NASDAQ:AMCC), Angie’s List Inc (NASDAQ:ANGI) and Baidu Inc (ADR) (NASDAQ:BIDU).

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J.C. Penney reaches a nine-month high

Today’s biggest gainer midday is Northstar Realty Finance Corp. (NYSE:NRF), up +8.11%. The real estate investment firm, a Daniel Loeb pick, has cut a new deal with  22nd Century Group.

Alight Capital Outperforms As Fund Positions For Uncertainty

Invest ESG Leon CoopermanAlight Capital Management declined 1.3% on a net basis for the first quarter of 2022, according to a copy of the firm's quarterly update, which ValueWalk has been able to review. Short positions offset most of the losses on the long side of the portfolio. The long/short equity fund exited the quarter with a net Read More

Jumping +6.52% is retail giant J.C. Penney Company, Inc. (NYSE:JCP). The George Soros asset has rallied after Friday’s news of consumer sentiment reaching a nine-month high, cutting its YTD losses to -6.38%.

Rounding out today’s list of gainers is Charter Communications, Inc. (NASDAQ:CHTR), which surged x.xx% following news that Comcast Corporation plans to sell nearly four million extra subscribers as part of a two-stage deal between the companies. George Soros, Farallon Capital Management, Tiger Global and Steve Mandel have positions in Charter.

Baidu is Back in the Red

After last Friday’s rally, Applied Micro Circuits Corporation (NASDAQ:AMCC) dipped -11.21% today, rendering it this Monday’s biggest midday loser. AMCC is a Tiger Global pick.

Second is Angie’s List Inc (NASDAQ:ANGI), down -8.42%. Another Soros asset, ANGI was downgraded by RBC Capital from a target price of $21.00 to $18.00.

Chinese search engine giant Baidu Inc (ADR) (NASDAQ:BIDU) is last, posting an -8.10% loss. Its share price surged last week after the company handily beat earnings estimates, but it is still down -16.23% for the year.

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