Oracle Buy Rumors Send MICROS Soaring Midday


MICROS Systems, Inc. (NASDAQ:MCRS), SolarCity Corp (NASDAQ:SCTY) and GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH) are today’s top gainers on Wall Street midday. On the losing end are Community Health Systems (NYSE:CYHHZ), Castlight Health Inc (NYSE:CSLT) and Ply Gem Holdings Inc (NYSE:PGEM).

MICROS Surges on Rumors of Oracle Deal

The share price of MICROS Systems, Inc. (NASDAQ:MCRS) jumped +17.18% today on reports that Oracle Corporation (NYSE:ORCL) is nearing a deal to buy the hospitality industry software provider for more than $5 million.  Billionaire investor Ray Dalio has been increasing his stake in MCRS in recent quarters and stands to benefit should the purchase go through – especially considering he has a position in Oracle as well.

SolarCity Corp (NASDAQ:SCTY) Corporation surged +15.93% midday. The Tiger Global pick said today that it plans to buy solar panel maker Silevo. Earlier this month, it made a deal to buy megawatts of solar panels from Norway’s REC group. SCTY is up a solid +13.15% YTD.

Also starting the day off strong is GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH), which was up +15.02% midday. The likely explanation: the news that one of its cannabis drugs has produced promising results in children and young adults with treatment-resistant epilepsy. Thomas Steyer’s Farallon Capital initiated a position in the biopharmaceutical firm, the price of which is up +112.11% YTD, in June 2013.

Castlight, Ply Gem Continue to Struggle

Community Health Systems (NYSE:CYH) dipped -6.86% midday today. The company is a new Q1 acquisition for billionaire Thomas Steyer.

The share price of Castlight Health Inc (NYSE:CSLT) fell -6.6%. A first quarter 2014 buy for hedge fund Tiger Global, the company announced a partnership with Grand Rounds today to expand its technology platform. CSLT is down -58.71% in 2014.

Last up on today’s list of losers is Ply Gem Holdings Inc (NYSE:PGEM), the price of which slipped -5.14% midday. The David Tepper holding manufactures residential exterior building products and is facing a class action lawsuit filed by Lieff Cabraser Heimann & Bernstein, LLP. Its price has declined -40.54% this year.

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