Today’s midday gainers are Kindred Biosciences Inc (NASDAQ:KIN), Bitauto Hldg Ltd (ADR) (NYSE:BITA) and Zulily Inc (NASDAQ:ZU). The midday losers are The Medicines Company (NASDAQ:MDCO), BioFuel Energy Corp. (NASDAQ:BIOF) and McDermott International (NYSE:MDR).
Kindred Biosciences Surges
This Tuesday’s top gainer is Kindred Biosciences Inc (NASDAQ:KIN), up +13.38%. The company is signing an alliance with X-Body Biosciences for new drugs. Kindred is part of the portfolios of Seth Klarman and Farallon Capital.
Trident Fund LP June 2020 Performance Update: “Don’t Fade the Fed
Trident Fund LP performance update for the month ended June 30, 2020. Q2 2020 hedge fund letters, conferences and more The Trident Fund LP returned +1.1 percent in June, and the fund is +8.3 percent net year to date. The motto “Don’t Fade the Fed” dominated global macro events in June and led the Trident Read More
Second is Bitauto Hldg Ltd (ADR) (NYSE:BITA), a Chinese provider of marketing and internet content. The stock surged +10.60% following the release of its financial results for 2013. Both Tiger Global and George Soros hold BITA shares.
Last is Zulily Inc (NASDAQ:ZU), up +10.26%. Another Tiger Global allocation, ZU is recovering from yesterday’s slump.
The Medicines Company Continues to Slide
The top loser midday today is The Medicines Company (NASDAQ:MDCO). The George Soros bet dipped -15.20 after receiving a downgrade in its rating. Shares of MDCO have racked up a -37.61% YTD loss.
Third is McDermott International (NYSE:MDR), down -8.31%. Another Einhorn pick, McDermott operates in engineering and construction projects worldwide. The company announced today that it would be offering equity units to the market in a program valued at up to $300 million.