Hillshire Brands Soars as Acquisition Plot Thickens

0
Hillshire Brands Soars as Acquisition Plot Thickens

Hillshire Brands Co (NYSE:HSH), North Atlantic Drilling Ltd. (NYSE:NADL) and Arrowhead Research Corp (NASDAQ:ARWR) are today’s top gainers midday. Getting a slow start to this four-day week are midday losers Voltari Corp (NASDAQ:VLTC), Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) and International Tower Hill Mines Ltd(NYSEMKT:THM).

Play Quizzes 4

Hillshire Brands Surges on News of Potential Pilgrim’s Pride Buy

Up an impressive +21.99%, Hillshire Brands Co (NYSE:HSH) is this Tuesday’s top midday gainer. Poultry producer Pilgrim’s Pride (NASDAQ:PPC) said today that it made a multi-billion-dollar offer to buy Hillshire – an interesting move considering that the latter announced at the start of the month plans to acquire Pinnacle Foods (NYSE:PF). With positions in both HSH and PPC, billionaire George Soros stands to benefit from these moves.

This Long/ Short Equity Firm Sees A Time-Arbitrage Opportunity In This Pest Control Merger

PestYost Partners was up 0.8% for the first quarter, while the Yost Focused Long Funds lost 5% net. The firm's benchmark, the MSCI World Index, declined by 5.2%. The funds' returns outperformed their benchmark due to their tilt toward value, high exposures to energy and financials and a bias toward quality. In his first-quarter letter Read More

North Atlantic Drilling Ltd. (NYSE:NADL) surged +10.59% on news of a new deal with Russia’s Rosneft. George Soros initiated a position in the offshore drilling contractor in the first quarter of the year.

Yet another new Soros pick takes the last spot on today’s list of midday gainers: Arrowhead Research Corp (NASDAQ:ARWR). It’s price jumped +10.01% today and continues its 2014 stride, with its price up +15.94% YTD.

Voltari Corp., Himax Technologies Dip

Voltari Corp (NASDAQ:VLTC) plunged -10.50% today, bringing its five-day losses to a total -21.16%. The mobile data solutions provider has been in Carl Icahn’s investment portfolio for four consecutive quarters.

Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) dipped -9.01% early in the day today following reports that Renasas Electronics plans to sell its stake in a unit that supplies driver display chips for Apple. In the portfolios of billionaire investor Julian Robertson and also a Tiger Global holding, HIMX has had a rough go as of late and is down -53.98% this year alone.

The share price of International Tower Hill Mines Ltd (NYSEMKT:THM) slipped -7.26% midday today. Despite today’s loss, the long-time John Paulson pick is having a nice run in 2014 and has gained +35.85% since the start of the year.

Updated on

iBillionaire provides access to the investment data and strategies of the world's most successful self-made billionaires. Mobile app available for iOS and Android. Maker of the iBillionaire Index (IBLN). More at www.iBillionaire.me.
Previous article Anonymous SF Twitter Inc User Is Giving Away Cash
Next article Google Inc (GOOGL) Has The Best Benefits

No posts to display