Today’s top market gainers midday are BioFuel Energy Corp. (NASDAQ:BIOF), HCA Holdings Inc (NYSE:HCA) and International Game Technology (NYSE:IGT). On the losing end are MGIC Investment Corp. (NYSE:MTG), Neuralstem, Inc. (NYSEMKT:CUR) and IMAX Corporation (NYSE:IMAX).
BioFuel Energy Soars
Ethanol producer BioFuel Energy Corp. (NASDAQ:BIOF) is this Wednesday’s top gainer midday, its price climbing +16.64%. In the investment portfolios of both David Einhorn and Daniel Loeb, BIOF has had a stellar year, soaring +350.88% since January. Today’s jump comes as a result of confirmation that Einhorn’s Greenlight Capital will fully participate in an upcoming rights offering.
Jim Chanos has a new short target in his sights. Earlier this week, the hedge fund manager disclosed that he is betting against "legacy" data centers that face growing competition from the trio of technology giants, which have previously been their biggest customers. The fund manager, who is best known for his winning bet against Read More
HCA Holdings Inc (NYSE:HCA) surged +9.64% today after raising its guidance for 2014 and revealing high expectations for second-quarter results. Billionaires David Tepper, Leon Cooperman and John Paulson have positions in the hospital operator, which has gained +26.58% YTD.
Taking the third spot on today’s list of midday gainers is International Game Technology (NYSE:IGT), up +9.1%. The explanation: news that Italian GTECH will buy the U.S. slot machine maker for $4.7 billion. Having picked up 134,000 IGT shares during the first quarter of the year, Ray Dalio stands to benefit from this one.
MGIC Falls Short on Results, Dips Midday
MGIC Investment Corp. (NYSE:MTG) fell -9.1% early in the day after failing to meet analysts’ expectations in a report of net earnings and revenues. The private mortgage insurer, a John Paulson and George Soros holding, is down -8.29% in 2014.
Neuralstem, Inc. (NYSEMKT:CUR), a new Q1 buy for Soros, dipped -6.57% midday. The medical research services provider has had a relatively strong year, its price up +7.9% since the start of 2014.
Film technology company IMAX Corporation (NYSE:IMAX) had a rough start to the day as well. Its price was down -5.14% midday, putting it in oversold territory with an RSI reading of 26.8. A long-time Richard Chilton pick, IMAX has fallen -13.11% over the past three months.