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).

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.

Canyon Distressed Opportunity Fund likes the backdrop for credit

CanyonThe Canyon Distressed Opportunity Fund III held its final closing on Jan. 1 with total commitments of $1.46 billion, calling half of its capital commitments so far. Canyon has about $26 billion in assets under management now. Q4 2020 hedge fund letters, conferences and more Positive backdrop for credit funds In their fourth-quarter letter to 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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