Today’s top gainers midday on Wall Street are Media General, Inc. (NYSE:MEG), Zulily Inc (NASDAQ:ZU), dELiA*s, Inc. (NASDAQ:DLIA). On the losing end are PBF Energy Inc (NYSE:PBF), Valero Energy Corporation (NYSE:VLO) and Valmont Industries, Inc. (NYSE:VMI).
Media General Climbs
Media General, Inc. (NYSE:MEG) surged +10.45% midday. The stock has gained +13.76% since Monday, when it announced plans to buy Pennsylvania television station WHTM-TV for $83.4 million. And yesterday, Wedbush assumed coverage on MEG shares, issuing it an outperform rating. Billionaire Warren Buffett has maintained 4.64 million Media General shares across numerous quarters.
This Tiger Cub Giant Is Betting On Banks And Tech Stocks In The Recovery
The 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
The share price of Zulily Inc (NASDAQ:ZU) jumped +9.61% as Goldman Sachs analyst Debra Schwartz raised her rating on the online retailer from buy to neutral, raising her price target as well. Despite today’s gains, the Tiger Global pick is down -3.61%.
dELiA*s, Inc. (NASDAQ:DLIA)rounds out today’s list of midday gainers, its price increased +8.86%. The likely explanation: yesterday’s news that Leon Cooperman’s Omega Advisors owns 8.51% million shares of the retailer. Including today’s billionaire-inspired bounce, dELiA*s has rallied +22.86% in the past month.
PBF Energy, Valero Dip
PBF Energy Inc (NYSE:PBF) dipped -10.37% after the U.S. Commerce Department cleared the way for the first exports of unrefined American oil in nearly 40 years, meaning energy companies can start selling U.S. oil abroad. Not only did Seth Klarman bet PBF suffer the news, but also companies like Tesoro Corporation and Phillips 66 as well.
Also suffering the effects of the Obama administration decision is Valero Energy Corporation (NYSE:VLO), which was down -9.06% at midday trading. A number of billionaire hedge fund managers have placed their bets on the petroleum firm, including Julian Robertson, George Soros and Ray Dalio.
Taking the third spot on today’s list of midday losers is Valmont Industries, Inc. (NYSE:VMI). The company’s price dipped -7.39% after it commented on its 2014 earnings outlook, predicting less favorable profits for the year ahead. David Tepper increased his stake in Valmont in Q1.