CarMax, Inc, Shire PLC Surge on Wall Street Midday

CarMax, Inc (NYSE:KMX), Shire PLC (ADR) (NASDAQ:SHPG) and Concert Pharmaceuticals Inc (NASDAQ:CNCE) are the market’s top midday gainers this Friday. Merrimack Pharmaceuticals Inc (NASDAQ:MACK), Tibco Software Inc. (NASDAQ:TIBX) and Adept Technology Inc (NASDAQ:ADEP).

CarMax Gets a Boost on Higher Profits

Its share price up +17.38% midday, CarMax, Inc (NYSE:KMX) got a strong start to the day. The company said its fiscal first-quarter profits jumped 16% on higher consumer traffic and pricing, exceeding analysts’ expectations. The Ray Dalio pick is up +13.06% in 2014.

This Tiger Cub Giant Is Betting On Banks And Tech Stocks In The Recovery

D1 CapitalThe first two months of the third quarter were the best months for D1 Capital Partners' public portfolio since inception, that's according to a copy of the firm's August update, which ValueWalk has been able to review. Q2 2020 hedge fund letters, conferences and more According to the update, D1's public portfolio returned 20.1% gross Read More

Shire PLC (ADR) (NASDAQ:SHPG) surged +16.49%. The Irish pharmaceutical company and John Paulson holding revealed today that it rejected a takeover approach from AbbVie (NYSE:ABBV) in May. Shire’s price has rallied +136.75% over the past year.

Taking the third and final spot on today’s list of midday gainers is Concert Pharmaceuticals Inc (NASDAQ:CNCE), the price of which jumped +9.09%. During the first quarter of the year, Farallon Capital initiated a position in the firm.

Merrimack Pharmaceuticals Dips as Collaboration Agreement Ends

Merrimack Pharmaceuticals Inc (NASDAQ:MACK) dipped -10.52% in the wake of yesterday’s news that it has terminated its license and collaboration agreement with Sanofi SA (ADR) (NYSE:SNY) for the development and commercialization of Merrimack’s antibody MM-121. Despite today’s loss on the market, MACK is up +28.31% this year.

Down -7.01% midday is George Soros holding Tibco Software Inc. (NASDAQ:TIBX). The company reported a sharp drop in fiscal second-quarter profits yesterday, at the same time announcing the hiring of Todd Bradley (formerly of Hewlett-Packard). Tibco’s share price has fallen -12.14% in 2014.

Last on today’s list of midday losers is Adept Technology Inc (NASDAQ:ADEP), down -5.92%. A new Q1 acquisition for Soros, the firm’s price has fallen -39.73% YTD but is still up +182.78% over the past 12 months.