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.
This Tiger Cub Giant Is Betting On Banks And Tech Stocks In The Recovery
The first two months of the third quarter were the best months for D1 Capital Partners' public portfolio since inception, that's according to a copy of the firm's August update, which ValueWalk has been able to review. Q2 2020 hedge fund letters, conferences and more According to the update, D1's public portfolio returned 20.1% gross 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.