Discovery Laboratories, Inc. (NASDAQ:DSCO), Town Sports International Holdings, Inc. (NASDAQ:CLUB) and 58.com Inc (ADR) (NYSE:WUBA) are ending the week on a high note and are today’s top midday gainers. The losers are Community Health Systems (NYSE:CYH), Dollar General Corp. (NYSE:DG) and Pain Therapeutics, Inc. (NASDAQ:PTIE).
Discovery Laboratories Climbs
Up +8.43% by noon, Discovery Laboratories, Inc. (NASDAQ:DSCO) is today’s top midday gainer. Earlier this month, the biotech company said that it had been awarded the final $1.9 million of a $2.4 million Fast Track SBIR grant. Despite today’s jump, the new Q1 George Soros pick is down -20.89% YTD.
The latest Robinhood Investors Conference is in the books, and some hedge funds made an appearance at the conference. In a panel on hedge funds moderated by Maverick Capital's Lee Ainslie, Ricky Sandler of Eminence Capital, Gaurav Kapadia of XN and Glen Kacher of Light Street discussed their own hedge funds and various aspects of Read More
Town Sports International Holdings, Inc. (NASDAQ:CLUB) climbed +6.08% as news broke that HG Vora Capital Management, LLC, which owns 10% of the company, purchased over 350,000 CLUB shares this week. Farallon Capital has held 4.06 million shares of the fitness center operator across several quarters. It’s also worth noting that this year hasn’t been a great one for Town Sports, as its price has declined -55.52% in 2014.
Taking the third and final spot on today’s list of midday gainers is 58.com Inc (ADR) (NYSE:WUBA). Today, Chinese internet giant Tencent Holdings Ltd. said it had agreed to purchase 20% of 58.com in a deal worth an estimated $736 million. Tiger Global initiated a position in WUBA in the fourth quarter of 2013 and purchased nearly a million more assets in Q1.
Community Health Dips
Community Health Systems (NYSE:CYH) dipped -6.84% and is the biggest midday loser this Friday. Farallon Capital picked up 11.1 million shares of the company during the first quarter of the year.
The share price of Dollar General Corp. (NYSE:DG) fell -6.58% after the announcement was made that company CEO Rick Dreiling will retire next year. The move puts Carl Icahn’s Family Dollar merger in doubt. Dollar General is a favorite among a number of billionaire investors, including Jorge Lemann and Richard Chilton. It is also currently the number eight constituent on the iBillionaire Index.
Pain Therapeutics, Inc. (NASDAQ:PTIE), a new Q1 buy for George Soros, dipped -4.95%. Despite today’s loss, its price is still up +22.02% in 2014.