Kindred Biosciences Share Offer Fails to Impress Investors

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Kindred Biosciences Share Offer Fails to Impress Investors

Today’s top midday gainers are ON Semiconductor Corp (NASDAQ:ONNN), KKR & Co. L.P. (NYSE:KKR) and Rite Aid Corporation (NYSE:RAD). The losers are Kindred Biosciences Inc (NASDAQ:KIN), Qunar Cayman Islands Ltd (NASDAQ:QUNR) and FireEye Inc (NASDAQ:FEYE).

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ON Semiconductor Gains

This Thursday’s top gainer is ON Semiconductor Corp (NASDAQ:ONNN). The George Soros pick and image sensing technology provider surged +3.79%. ONNN recently announced that it would acquire Truesense Imaging for $92 million in cash, which boosts its competitive advantages.

Connor Leonard Of IMC Explains: Here’s What Value Investors Should Know About Moats

moat 1557171753When it comes to value investing, one strategy that's often used is seeking out companies which have sizeable moats against competition. In a presentation for the Value Investing Club at Google earlier this year, Connor Leonard of the Investors Management Corporation explained two ways of looking at moats and how value investors can benefit from Read More

Second is KKR & Co. L.P. (NYSE:KKR), up +2.78%. The company was given a “buy” recommendation from a handful of analysts, as the global investment management corporation is well poised to make gains from its market position. KKR is in the books of Richard Chilton and Leon Cooperman.

Last up today is Rite Aid Corporation (NYSE:RAD), the price of which increased +2.67%. The David Einhorn bet recently announced an increase in March sales.

Kindred Biosciences Dips

Having recently announced the pricing of its public offering of three million shares, Kindred Biosciences Inc (NASDAQ:KIN) today’s top midday loser, sliding -8.59%. The pharmaceutical company is part of the funds of Seth Klarman and Farallon Capital Management.

At a close second is Qunar Cayman Islands Ltd (NASDAQ:QUNR), which dipped -8.3%. The Chinese tourism e-commerce platform just named a new Chief Strategy Officer.

Rounding out today’s list of midday losers is FireEye Inc (NASDAQ:FEYE), down -7.22%. The company has still gained +29.21% YTD. Tiger Global holds FEYE assets.

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