News Sends BioFuel Soaring, Orexigen Falling Midday Wednesday


BioFuel Energy Corp. (NASDAQ:BIOF), Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) and Northwest Biotherapeutics, Inc (NASDAQ:NWBO) are this Wednesday’s top midday gainers. The losers midday today are Orexigen Therapeutics, Inc. (NASDAQ:OREX), Santander Consumer USA Holdings Inc (NYSE:SC) and Enzon Pharmaceuticals Inc (NASDAQ:ENZN).

BioFuel Energy Soars on Greenlight Capital Agreement

BioFuel Energy Corp. (NASDAQ:BIOF) surged +41.13% today after announcing that it has entered into an agreement with David Einhorn’s Greenlight Capital through which BioFuel will acquire homebuilding and financing company JBGL. As part of the deal, Greenlight Capital will become the owner of 49.9% of BioFuel Energy. Along with Einhorn, Daniel Loeb has a position in the company.

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The share price of Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) gained +14.83% midday after the company reported strong first quarter results. The beauty supplies retailer also said that it has high expectation for second quarter revenues and earnings. Billionaire investors Julian Robertson and Steve Mandel have positions in ULTA.

Rounding out today’s list of gainers if Northwest Biotherapeutics, Inc (NASDAQ:NWBO). Its price jumped +13.88% midday today after the announcement that one of its immune therapies is showing strong results in trials. A new Q1 pick for George Soros, Northwest Biotherapeutics is up +72.41% YTD.

Orexigen Dives on FDA Decision Delay

Orexigen Therapeutics, Inc. (NASDAQ:OREX) is today’s biggest loser midday, falling -18.58% as the company revealed at the FDA has pushed back issuing a decision on approval for its new weight loss drug. Thomas Steyer has increased his position in the biopharmaceutical firm over the past two quarters.

Santander Consumer USA Holdings Inc (NYSE:SC) slipped -6.86%. The consumer finance company, a Jorge Lemann pick, is down -23.53% in 2014.

Rounding out today’s list of midday losers is Enzon Pharmaceuticals Inc (NASDAQ:ENZN). The biopharmaceutical company posted a -6.78%. Hedge fund magnate Carl Icahn has held 5.9 million ENZN shares across several quarters, and despite today’s dip, the company had an especially strong day yesterday.