Dollar General Corp. (NYSE:DG), Celladon Corp (NASDAQ:CLDN) and Empire Resorts Inc (NASDAQ:NYNY) are this Monday’s top midday gainers. The losers are Fabrinet (NYSE:FN), Noah Holdings Limited (ADR) (NYSE:NOAH) and Monster Beverage Corp (NASDAQ:MNST).
Dollar General Soars Following Family Dollar Bid
Dollar General Corp. (NYSE:DG) arrived at midday up +9.55% following news that it’s made a $9.7 billion bid for Family Dollar, potentially entering into a bidding war with Dollar Tree, which made an offer last month.
A number of billionaire investors have an interest in how this one plays out. Tiger Global, Dan Loeb and Jorge Lemann have positions in DG – meaning it’s no surprise the discount retailer is also part of the iBillionaire Index. John Paulson has 8.02 million Family Dollar shares as of Q2, and Carl Icahn, after an activist push for the company’s sale, recently cashed out.
Taking the last spot on today’s list of midday gainers is Empire Resorts Inc (NASDAQ:NYNY), up +6.64%. The hospitality and gaming company is down -3.51% YTD, but its price has climbed +76.23% over the past year.
Fabrinet Plunges on Potential Accounting Fiasco
Fabrinet (NYSE:FN) dipped -17.8% midday today after reporting that it will have to postpone financial results pending an investigation into its accounting practices. The company, which offers outsourced process engineering and manufacturing services, has declined -26.94% over the past month.
Noah Holdings Limited (ADR) (NYSE:NOAH) dipped -5.35% midday. The firm distributes wealth management products in China and is aimed at high net-worth individuals. It reported quarterly results last week and is down -7.11% in 2014.
Last up on today’s list of midday losers is Monster Beverage Corp (NASDAQ:MNST), which dipped -3.98%. Last week, news emerged that Coca-Cola was to acquire a 16.7% stake in the energy-drink maker. Despite today’s dip, Monster is up +27.75% over the past five days alone.