Home Stocks Google Glass Rumors Spell Trouble for Himax Technologies, Inc.

Google Glass Rumors Spell Trouble for Himax Technologies, Inc.

Broadcom Corporation (NASDAQ:BRCM), Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) and CONN’S, Inc. (NASDAQ:CONN) started off the week strong and are today’s top gainers midday. On the losing end are Himax Technologies, Inc. (ADR) (NASDAQ:HIMX), Commscope Holding Company Inc (NASDAQ:COMM) and Global Eagle Acquisition Corp (NASDAQ:ENT).

Broadcam Bounces on Business Unit Talks

Broadcom Corporation (NASDAQ:BRCM) surged +9.79% early in the day this Monday, rendering it today’s top midday gainer. The company said today that it is exploring strategic options for its cellular baseband business, including a potential sale or wind-down, joining a number of businesses shifting away from the niche in an attempt to avoid competing with market heavyweight Qualcomm, Inc. (NASDAQ:QCOM). Billionaire investors David Tepper and Ray Dalio have positions in BRCM, though both scaled back their allocations in Q1.

Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) jumped +7.59% today after releasing positive data on one of its drugs on Sunday. George Soros owns 500,000 ARIA shares after cutting down his position significantly in Q1.

Taking the third spot on today’s list of midday gainers is CONN’S, Inc. (NASDAQ:CONN), the share price of which increased +6.58%. The electronics and appliances retailer posted better-than-expected earnings and revenues for its first quarter, beating EPS expectations by seven cents. David Einhorn picked up a position in the firm in Q1 with the purchase of 3.3 million shares (1.92% of his portfolio).

Troubles Mount for Himax

Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) dipped -9.35% today, as rumors that it is about to lose Google Glass as a client mount. Julian Robertson and Tiger Global have positions in the firm, which is down -59.48% YTD.

The share price of Commscope Holding Company Inc (NASDAQ:COMM) fell -8.51%. A new Q1 acquisition for George Soros, the company has had a nice run in 2014, its price up +31.96% this year.

Global Eagle Acquisition Corp (NASDAQ:ENT) takes the last spot on today’s list of midday losers. Its price dropped -8.27% even after the announcement that its subsidiary IPF has entered into a multi-year agreement with Etihad Airways to provide inflight entertainment and content programming. In Soros’ investment portfolio since March 2013, ENT’s price has fallen -23.87% YTD.


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