Oncothyreon Inc (NASDAQ:ONTY), Intuitive Surgical, Inc. (NASDAQ:ISRG) and Biogen Idec Inc (NASDAQ:BIIB) made major gains on the market midday. Xilinx, Inc. (NASDAQ:XLNX), Juniper Networks, Inc. (NYSE:JNPR) and iRobot Corporation (NASDAQ:IRBT) went in the other direction.
Oncothyreon Surges Thanks to Puma Technology News
At this year's annual Robin Hood conference, which was held virtually, the founder of the world's largest hedge fund, Ray Dalio, talked about asset bubbles and how investors could detect as well as deal with bubbles in the marketplace. Q1 2021 hedge fund letters, conferences and more Dalio believes that by studying past market cycles Read More
Oncothyreon Inc (NASDAQ:ONTY), up +20% in midday trading, is a biopharmaceutical company focused on cancer therapies. Billionaire George Soros initiated a position in the firm with the purchase of 90,000 shares in Q1. ONTY is riding on the coattails of Puma Technology’s major surge today.
Also having a strong start to the day this Wednesday is Intuitive Surgical, Inc. (NASDAQ:ISRG), up +13.9% midday. The company, a Ray Dalio pick, surprised investors with strong second-quarter results yesterday. Its price is up over +16% YTD.
Taking the last spot on today’s list of midday gainers is Biogen Idec Inc (NASDAQ:BIIB), up +11.3% after crushing Wall Street expectations on both profits and sales for Q2. George Soros holds 8,000 BIIB shares, purchased during the first quarter of the year. The company’s share price has climbed +51.6% over the past year.
Results Reports Spell Trouble for Xilinx, Juniper Networks and iRobot
The biggest loser midday today is Xilinx, Inc. (NASDAQ:XLNX), the price of which declined -14.38%. Yesterday, the chip maker reported disappointing sales and issued disappointing revenue guidance. The Ray Dalio investment is down -10.61% in 2014.
Juniper Networks, Inc. (NYSE:JNPR) slipped -9.77% midday, also the result of missed marks on results. Today, Credit Suisse reiterated its neutral rating on the stock. Another Dalio investment, Juniper Networks has had a fairly uneventful year in terms of share price, which is down just -0.8% since the start of 2014.
iRobot Corporation (NASDAQ:IRBT) fell 9.06% midday, giving it the third and final spot on today’s list of losers. The robotic solutions manufacturer felt short of expectations for its fiscal Q2 results, specifically with respect revenue. Billionaire investor George Soros purchased 337,000 IRBT assets during the first quarter of the year (a 0.14% allocation in his portfolio). Despite today’s dip, the company is up +2.62% year-to-date.