Merger News Spells Midday Surge for URS Corp, Whiting Petroleum

Merger News Spells Midday Surge for URS Corp, Whiting Petroleum

URS Corp (NYSE:URS), Whiting Petroleum Corp (NYSE:WLL) and Turtle Beach Corp (NASDAQ:HEAR) are having a strong start to the week and are today’s biggest gainers midday. The losers are Harmonic Inc (NASDAQ:HLIT), Uniqure NV (NASDAQ:QURE) and Allied Nevada Gold Corp. (NYSEMKT:ANV).

URS, WLL Surge on Merger News

Up +10.8%, today’s top midday gainer is URS Corp (NYSE:URS), a provider of engineering, construction and technical services. Over the weekend, news broke that the company is to be bought by AECOM Technology Corp (NYSE:ACM) in a deal worth $4 billion. David Einhorn initiated a position in URS during the second quarter of 2013 and increased his allocation in both Q4 2013 and Q1 2014. Ray Dalio has a small allocation – just 5,000 shares – in URS as well.

Robinhood 2021 Conference: Cathie Wood discusses her investment process with Lee Ainslie [Exclusive]

Yarra Square Investing Greenhaven Road CapitalARK Invest is known for targeting high-growth technology companies, with one of its most recent additions being DraftKings. In an interview with Maverick's Lee Ainslie at the Robinhood Investors Conference this week, Cathie Wood of ARK Invest discussed the firm's process and updated its views on some positions, including Tesla. Q1 2021 hedge fund letters, Read More

Whiting Petroleum Corp (NYSE:WLL) also got a boost off of weekend merger news, its price up +7.5% midday. The John Paulson and Ray Dalio pick said on Sunday that it will buy Kodiak Oil & Gas Corporation (NYSE:KOG) – also a Paulson holding – for $3.8 billion in stock.

Turtle Beach Corp (NASDAQ:HEAR) takes the last spot on today’s list of midday gainers, its price climbing +7.14%. A new Q1 pick for billionaire investor George Soros, the company has gained +5.93% over the past month.

Harmonic Inc. Dives After Disappointing on Results

Harmonic Inc (NASDAQ:HLIT) posted a loss of -10.66% midday today after announcing preliminary second quarter results. The video infrastructure technologist missed the mark on per-share earnings and revenue and lowered its Q3 guidance as well.

Farallon Capital holding Uniqure NV (NASDAQ:QURE) dipped -7.32% today. The biopharmaceutical firm is down -14.99% YTD, though its price has climbed +12.81% over the last month.

Allied Nevada Gold Corp. (NYSEMKT:ANV) is the day’s third-biggest loser midday, its price declining -6.12%. A long-time holding of billionaire investor John Paulson, ANV took a hit today as August gold futures fell 2.2%. The gold and silver producer is still up +3.1% in 2014.

No posts to display