RetailMeNot Hits All-Time Low as Google Revises Search Algorithms

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RetailMeNot Hits All-Time Low as Google Revises Search Algorithms

Ending the week on a high note are today’s midday gainers Ambit Biosciences Corp (NASDAQ:AMBI), Nimble Storage Inc (NYSE:NMBL) and ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS). On the losing end this Friday are dELiA*s, Inc. (NASDAQ:DLIA), RetailMeNot Inc (NASDAQ:SALE) and 21Vianet Group Inc (NASDAQ:VNET).

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Ambit Biosciences Surges, Isis Pharmaceutical Nears 52-Week High

The price of Ambit Biosciences Corp (NASDAQ:AMBI) jumped +11.51% earlier in the day today, rendering it the day’s top midday gainer. Billionaire investor George Soros owns 25,000 shares of the biopharmaceuticals company.

Fund Manager Profile: Zhang Hui Of China’s Southern Asset Management

investHistorically, the Chinese market has been relatively isolated from international investors, but much is changing there now, making China virtually impossible for the diversified investor to ignore. Earlier this year, CNBC pointed to signs that Chinese regulators may start easing up on their scrutiny of companies after months of clamping down on tech firms. That Read More

Following AMBI is Nimble Storage Inc (NYSE:NMBL). Its share price surged +9.93% early in the day. The company was updated upgraded to a buy rating by Wunderlich earlier in the week – likely a factor in the jump. Hedge fund Tiger Global has a 250,000-share stake in the firm.

ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS), also a Soros investment pick, watched its price surge +9.62% midday today, nearing a 52-week high. The company announced yesterday that its experimental blood thinner was more effective than another more commonly prescribed drug, giving its share price a boost.

Google Algorithm Reshuffle Causes RetailMeNot to Hit All-Time Low

RetailMeNot Inc (NASDAQ:SALE) fell -7.49% midday today – the result of a report revealing that Google’s search algorithm has made results leading to the coupon site 33% less visible. The stock hit an all-time low of $22.45 earlier in the day. Billionaire George Soros holds 1.01 million SALE shares.

Following RetailMeNot is 21Vianet Group Inc (NASDAQ:VNET), the price of which dropped -5.27% today. The Chinese data center operator reported major net losses in Q1 despite an increase in net revenues. Soros picked up a position in VNET during the first quarter of the year.

Also ending this week on a low note is dELiA*s, Inc. (NASDAQ:DLIA), which rounds out this Friday’s list of midday losers. A Tiger Global holding, the retailer’s stock price dipped -4.11%. It is down -21.25% in 2014.

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