ConAgra Foods Inc Warnings Makes Investors Wary Midday

ConAgra Foods Inc Warnings Makes Investors Wary Midday

Starting off this Wednesday well are today’s top midday gainers: Nimble Storage Inc (NYSE:NMBL), International Tower Hill Mines Ltd (NYSEMKT:THM) and Receptos Inc (NASDAQ:RCPT). The biggest losers midday are ConAgra Foods Inc (NYSE:CAG), RetailMeNot Inc (NASDAQ:SALE) and GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH).

Morgan Stanley Upgrade Gives Nimble Storage a Boost

Nimble Storage Inc (NYSE:NMBL) surged +8.75% as Morgan Stanley upgraded its rating on raised revenue estimates for the company. The data storage platform provider has been in the Tiger Global portfolio for two consecutive quarters. Despite today’s jump, its price is still down -34.19% YTD.

Gates Capital Returns 32.7% Tries To Do “Fewer Things Better”

Gates Capital Management's Excess Cash Flow (ECF) Value Funds have returned 14.5% net over the past 25 years, and in 2021, the fund manager continued to outperform. Due to an "absence of large mistakes" during the year, coupled with an "attractive environment for corporate events," the group's flagship ECF Value Fund, L.P returned 32.7% last Read More

International Tower Hill Mines Ltd (NYSEMKT:THM) jumped +8.35% midday today. The long-time John Paulson pick has rallied +53.81% over the past six months, cutting its one-year losses to -13.04%.

Rounding out the list of today’s top three midday gainers is Receptos Inc (NASDAQ:RCPT), the share price of which increased +7.9%. Yesterday, the biopharmaceutical company said that it intends to offer shares of its common stock in an underwritten public offering. The Thomas Steyer bet is up +42.74% in 2014.

ConAgra Foods Lowers Quarterly Expectations

ConAgra Foods Inc (NYSE:CAG) slipped -7.64% midday today after warning that volume declines in its consumer foods segments and weakened profits in its private label business will take a toll on its quarterly earnings. Billionaire investor Ray Dalio has held CAG assets for several quarters.

The share price of RetailMeNot Inc (NASDAQ:SALE) fell -4.71%. Last week, company CTO Paul Rogers unloaded 3,000 SALE shares, and recently, a number of analysts have commented on the stock as well. The online coupon marketplace took a major hit in May when Google made changes to its search engines, and its price has fallen -9.09% over the past month. George Soros initiated a position in RetailMeNot in September 2013.

Down -4.59%, GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH) takes the final spot on today’s list of midday losers. Its share price soared yesterday on the news that one of its cannabis-based drugs was producing promising results, meaning investors, including Thomas Steyer, aren’t likely too concerned over today’s dip.

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