Rockwood Holdings, Inc. (NYSE:ROC), EXACT Sciences Corporation (NASDAQ:EXAS) and Sociedad Quimica y Minera de Chile (ADR) (NYSE:SQM) are the day’s top gainers on Wall Street this Tuesday. AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO), E2open Inc (NASDAQ:EOPN) and Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) are the losers.
Acquisition Deal Leads to Rockwood Holdings Surge
Rockwood Holdings, Inc. (NYSE:ROC) is today’s top gainer, its price climbing +9.82% after Albemarle agreed to acquire it in a $6.2 billion deal. Brazilian billionaire Jorge Lemann initiated a position in the specialty chemicals and advanced materials firm during the first quarter of the year, picking up 75,000 shares.
Baupost's investment process involves "never-ending" gleaning of facts to help support investment ideas Seth Klarman writes in his end-of-year letter to investors. In the letter, a copy of which ValueWalk has been able to review, the value investor describes the Baupost Group's process to identify ideas and answer the most critical questions about its potential Read More
EXACT Sciences Corporation (NASDAQ:EXAS) climbed +5.9%. A new Q1 buy for George Soros, EXAS is a molecular diagnostics company. Its price has climbed +47.91% in 2014.
Sociedad Quimica y Minera de Chile (ADR) (NYSE:SQM), another first quarter Soros pick, surged +3.69% today. Zacks recently upgraded its rating of the firm from underperform to neutral, setting its price target at $29.00. SQM is up 13.95% YTD but down -2.61% over the past month.
AVEO Pharmaceuticals Takes a Dive
AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) is the day’s biggest loser, its price falling -10.64%. The long-time Seth Klarman pick has had a rough go in 2014, losing -30.6% of its value year-to-date. The scenario has, however, started to brighten over the past month.
E2open Inc (NASDAQ:EOPN) slipped -8.95% today as it continues to suffer the fall-out of Bank of America analyst Scott Shiao’s downgrade of the stock from a buy to neutral. The cloud-based enterprise solutions provider and Wilbur Ross holding has declined -23.84% over the past five days alone and is down -31.49% YTD.
Taking the third and final spot on today’s list of losers is Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC). It ended the day posting a loss of -7.6%. Yet another Wilbur Ross pick (the billionaire holds 116,000 CYCC assets), Cyclacel has remained relatively stable over the past month, its price up just +0.63% since 30 days ago. Year-to-date, however, is a different story, as CYCC is down -21.14% since the start of 2014.