Carl Icahn Gets His Way With Family Dollar Stores, Inc. Acquisition

Carl Icahn Gets His Way With Family Dollar Stores, Inc. Acquisition

Family Dollar Stores, Inc. (NYSE:FDO), Trulia Inc (NYSE:TRLA) and Inc (ADR) (NYSE:WUBA) are the top gainers on the market today. The losers are Enphase Energy Inc (NASDAQ:ENPH), QuickLogic Corporation (NASDAQ:QUIK) and ANI Pharmaceuticals Inc (NASDAQ:ANIP).

Family Dollar Jumps on Acquisition News

Family Dollar Stores, Inc. (NYSE:FDO) was up +24.22% midday today following the news that it will be acquired by competitor Dollar Tree (NYSE:DLTR) in a deal worth $8.5 million. This is a homerun for activist investor Carl Icahn, who took a major stake in FDO in June and subsequently started his push for its sale. John Paulson, who has a position in Family Dollar, and Richard Chilton, a Dollar Tree investor, stand to benefit from the acquisition agreement as well.

This Top Energy And Infrastructure Fund Is Bullish On U.S. Utilities

UtilitiesThe Electron Global Fund was up 2% for September, bringing its third-quarter return to -1.7% and its year-to-date return to 8.5%. Meanwhile, the MSCI World Utilities Index was down 7.2% for September, 1.7% for the third quarter and 3.3% year to date. The S&P 500 was down 4.8% for September, up 0.2% for the third Read More

Trulia Inc (NYSE:TRLA) climbed +12.21% today, also as the result of acquisition news. Zillow (NASDAQ:Z) is set to buy the online real estate company for $3.5 billion in stock. With a stake in both firms, Tiger Global stands to make a big buck off of the deal.

Up +8.66% midday, Inc. takes the third pot on today’s list of gainers. Another Tiger Global bet, the company is an online marketplace based out of China. Its price has climbed +41.65% YTD.

Enphase Energy Falls

Enphase Energy Inc (NASDAQ:ENPH) is today’s biggest loser midday, its price falling -10.41%. Despite today’s dip, the solar power solutions company, a Dan Loeb pick, has had a stellar year. Its price is up +63.56% in 2014.

QuickLogic Corporation (NASDAQ:QUIK) fell -6.85% midday today, just two days ahead of its anticipated results announcement. Pegged by Zacks as a potential growth stock, QuickLogic is a new Q1 acquisition for billionaire investor George Soros. However, it’s had a rough go recently, its price falling -22.47% over the past month.

ANI Pharmaceuticals Inc (NASDAQ:ANIP) dipped -6.55% midday today – a potential sign investors may be nervous about its scheduled results call next week. Farallon Capital     purchased 30,000 ANIP shares during the first quarter of this year. Its price has declined -9.57% over the last three months.

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