The embattled Herbalife Ltd. (NYSE:HLF) is today’s top gainer midday, even as activist investor Bill Ackman laid out his offensive against the company in a lengthy presentation this morning. Also having a strong start to the day are Noah Holdings Limited (ADR) (NYSE:NOAH) and Nimble Storage Inc (NYSE:NMBL). Today’s biggest losers midday are New Oriental Education & Tech Grp (ADR) (NYSE:EDU), Crown Holdings, Inc. (NYSE:CCK) and Community Health Systems (NYSE:CYH).
Herbalife Climbs
Herbalife Ltd. (NYSE:HLF) climbed +7.28% today – a sign Bill Ackman may not have delivered the “death blow” to the companyhe anticipated prior to today’s presentation on what he alleges are fraudulent practices. Billionaires Carl Icahn and George Soros have maintained their positions in the nutrition company, meaning the jury is still out as to who’s right on this bet.
Noah Holdings Limited (ADR) (NYSE:NOAH) surged +6.75% midday. A wealth management product distributor in China, NOAH has been in Richard Chilton’s portfolio since the first quarter of 2013. Though the company is down -15.67% YTD, it has rallied +10.56% over the past month.
Up +6.15% midday, Nimble Storage Inc (NYSE:NMBL) continues to enjoy the boost of news of an average buy recommendation from 19 ratings firms covering the company, revealed a few days ago. Tiger Global initiated a 250,000-share stake in the enterprise storage and back-up solutions provider in the fourth quarter of 2014.
New Oriental, Crown Holdings Dip Despite Positive Results Reports
The share price of New Oriental Education & Tech Grp (ADR) (NYSE:EDU) fell -12.19% early in the day, rendering it this Tuesday’s biggest midday loser. The Farallon Capital pick announced earnings results this morning, and while it exceeded expectations, investors were clearly unimpressed. Early this month, JPMorgan Chase & Co. reiterated an overweight rating on EDU. Its price has declined -31.84% in 2014.
Crown Holdings, Inc. (NYSE:CCK) dipped -5.71% midday, again declining despite positive results. Dan Loeb purchased three million CCK shares during the fourth quarter of 2014 and maintained his position in Q1. CCK has surged +9.47% YTD.
Taking the last spot on today’s list of midday losers is Community Health Systems (NYSE:CYH), down -5.42%. As of the first quarter of the year, Farallon Capital holds 11.1 million CYHHZ shares.
