Twitter Inc (NYSE:TWTR), Galectin Therapeutics Inc. (NASDAQ:GALT) and Calix Inc (NYSE:CALX) are today’s top market performers. The biggest losers on Wall Street this Wednesday are Genworth Financial Inc (NYSE:GNW), Applied Micro Circuits Corporation (NASDAQ:AMCC) and The Goodyear Tire & Rubber Company (NASDAQ:GT).
Results Report Sends Twitter Soaring
Social media giant Twitter Inc (NYSE:TWTR) surged +19.98% after hitting it out of the park with its results report on Tuesday. Chase Coleman’s Tiger Global initiated a 500,000-share position in Twitter during the fourth quarter of 2013. Despite today’s jump, the social network has had a bit of a rough go in 2014, its price down -27.26% YTD.
Chris Hohn the founder and manager of TCI Fund Management was the star speaker at this year's London Value Investor Conference, which took place on May 19th. The investor has earned himself a reputation for being one of the world's most successful hedge fund managers over the past few decades. TCI, which stands for The Read More
Galectin Therapeutics Inc. (NASDAQ:GALT) climbed +15.79% today, rebounding after taking yesterday following disappointing clinical drug results. George Soros initiated a position in the drug developer during the first quarter of the year and may not be thrilled on the investment just yet, as GALT’s share price has declined -42.81% over the past three months.
Calix Inc (NYSE:CALX) jumped +15.71% today after the announcing financial results for the second quarter. Julian Robertson started a position in the firm during the fourth quarter of 2013 and upped his allocation slightly during the first quarter of this year.
Genworth, Goodyear Stumble Following Results
Genworth Financial Inc (NYSE:GNW) is the biggest loser of the day, its plunging -14.02% in the wake of yesterday’s results announcement and the news that it may need to set aside much more money for long-term health insurance claims. Billionaire investors John Paulson and Bruce Berkowitz have had allocations in Genworth across several quarters, and George Soros initiated a position in Q1.
Applied Micro Circuits Corporation (NASDAQ:AMCC) fell -9.93% today after having its price target lowered to $12 from $16 by analysts at Canaccord Genuity. The stock is now trading near its 52-week low. Julian Robertson is the owner of 45,000 of the manufacturer’s shares.
The share price of The Goodyear Tire & Rubber Company (NASDAQ:GT) slipped -7.96% today. While the company saw an 18% jump in earnings in Q2, soft revenues and slowed volume in Latin America left investors unimpressed. The long-time David Tepper pick has had a relatively strong go in 2014, its price up +6.71% YTD. Moreover, its price has climbed over +50% in the past year.