The The Hain Celestial Group, Inc. (NASDAQ:HAIN), American Eagle Outfitters (NYSE:AEO) and Media General, Inc. (NYSE:MEG) are today’s top market gainers midday. The losers are Hertz Global Holdings, Inc. (NYSE:HTZ), Noah Holdings Limited (ADR) (NYSE:NOAH) and CUI Global Inc (NASDAQ:CUI).
Hain Celestial Surges on Results Despite Recall Issue
The The Hain Celestial Group, Inc. (NASDAQ:HAIN) his midday up +10.48% after announcing the highest quarterly and fiscal net year sales in company history. Its results were strong enough that investors seem largely unfazed by a product recall, which was issued this week as well. HAIN has gained +30.23% over the past year.
ValueWalk's Raul Panganiban interviews Kirk Du Plessis, Founder and CEO of Option Alpha, and discuss Option Alpha and his general approach to investing. Q1 2021 hedge fund letters, conferences and more The following is a computer generated transcript and may contain some errors. Interview with Option Alpha's Kirk Du Plessis
The share price of apparel brand American Eagle Outfitters (NYSE:AEO) surged +9.58% early in the day this Wednesday despite reporting a slide in profits last quarter. In Ray Dalio’s investment portfolio since the first quarter of the year, American Eagle has declined -13.75% YTD.
Also having a strong start to the day is Media General, Inc. (NYSE:MEG), up +8.37% midday. Early today, the company announced an amendment to a merger agreement with LIN Media. Billionaire investor Warren Buffett picked up a 4.64-million-share stake during the third quarter of 2012 and has maintained it since. Media General’s share price has increased over +80% in the past year.
Hertz Plunges Midday Falling Guidance Recall
Car rental company Hertz Global Holdings, Inc. (NYSE:HTZ) dipped -9.62% midday after the company issued a guidance recall on Tuesday, explaining in a filing with the Securities and Exchange Commission that it expects full year earnings to come in below previous expectations. Billionaire investors Dan Loeb and George Soros may be feeling a sting on this one, as well as Chase Coleman’s Tiger Global.
The share price of Noah Holdings Limited (ADR) (NYSE:NOAH) fell -6.02%, bringing its year-to-date loss to 14.61%. The company distributes wealth management products to high net worth individuals in China.
Taking the last spot on today’s list of midday losers is CUI Global Inc (NASDAQ:CUI), which dipped -4.86%. The company reported quarterly results on August 11th, and despite today’s decline, its price has climbed +9.15% since then.