CUI Global Inc (NASDAQ:CUI), Novacopper Inc (NYSEMKT:NCQ) and Bitauto Hldg Ltd (ADR) (NYSE:BITA) are today’s top midday gainers. Kate Spade & Co (NYSE:KATE), Turtle Beach Corp (NASDAQ:HEAR) and OCI Partners LP (NYSE:OCIP) are this Tuesday’s biggest midday losers.
Novacopper Jumps Following Paulson’s Position Disclosure
CUI Global Inc (NASDAQ:CUI) hit midday up +11.49%. The company reported its unaudited Q2 financial results today, including $19.2 million in quarterly revenue and a gross profit margin of 40%. A new first quarter buy for billionaire George Soros, CUI is up +16.77% year-to-date.
The Delbrook Resource Opportunities Master Fund LP declined 4.2% in September, bringing the fund's year-to-date performance to 25.4%, according to a copy of the firm's September investor update, which ValueWalk has been able to review. Q3 2021 hedge fund letters, conferences and more The commodities-focused hedge fund has had a strong year of the back Read More
Novacopper Inc (NYSEMKT:NCQ) surged +8.64% midday today following John Paulson’s disclosure late yesterday of an 18.3% stake in the company. The base metals exploration company is down -25.66% YTD, but with Paulson’s purchase, it could soon be turning around.
Taking the last spot on today’s list of midday gainers is Bitauto Hldg Ltd (ADR) (NYSE:BITA). Its price surged +5.6% and continues to ride the wave of its strong second quarter results. The Chinese car website, a George Soros holding, is up +125.97% in 2014.
Kate Spade & Co. Rises and Falls
Kate Spade & Co (NYSE:KATE) plunged early in the day today, posting a -21.99% loss by midday. Its share price initially hit a 52-week high but then dipped significantly – the result of its second quarter numbers and earnings call. The company, a Tiger Global holding, is down -9.51% YTD.
Turtle Beach Corp (NASDAQ:HEAR) fell -13.51% after the announcement of its second quarter results, which, while not poor, apparently failed to please investors. A first quarter George Soros buy, the company has declined -20.59% over the past three months.
OCI Partners LP (NYSE:OCIP) fell -12.1% following its announcement of second quarter earnings and quarterly cash distribution. Farallon Capital initiated a position in the company during the fourth quarter of 2013. Its price has declined more than -30% this year.