Kinder Morgan Inc (NYSE:KMI), Bitauto Hldg Ltd (NYSE:BITA) and Senomyx Inc. Inc. (NASDAQ:SNMX) are today’s top market gainers midday. The losers are Gogo Inc. (NASDAQ:GOGO), Dean Foods Co (NYSE:DF) and iPath S&P 500 VIX Short Term Futures TM ETN (NYSEARCA:VXX).
Kinder Morgan Surges
Kinder Morgan Inc (NYSE:KMI) hit midday up +11.05% today after announcing plans to consolidate its pipeline empire, acquiring all of Kinder Morgan Energy Partners LP (NYSE:KMP), Kinder Morgan Management, LLC (NYSE:KMR) and El Paso Pipeline Partners, L.P. (NYSE:EPB). The transactions are valued at an estimated $44 billion. Billionaire investor Leon Cooperman, who initiated a position in the pipeline and energy company in Q1 2012, stands to benefit from this one.
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
Chinese auto information provider Bitauto Hldg Ltd (ADR) (NYSE:BITA) jumped +8.86% early in the day following the announcement of a +96% increase in earnings to 45 cents per share. George Soros initiated a position in the company during the fourth quarter of 2013 and scaled back his allocation in Q1. BITA is up +112.08% year-to-date.
Senomyx Inc. (NASDAQ:SNMX) climbed +8.35% midday, bringing its YTD gain to +49.21%. The flavor developer was a new first quarter acquisition for Soros.
Q2 Losses Spell Trouble for Dean Foods, Gogo Inc. Midday
Gogo Inc (NASDAQ:GOGO) was down -7.33% midday today after reporting a second-quarter loss due to its international expansion efforts. Gogo is a provider of in-flight connectivity systems and services and is a new Q1 buy for billionaire George Soros. Its price has declined -39.78% in 2014.
The share price of Dean Foods Co (NYSE:DF) fell -6.7%. The company reported a $6 million second quarter loss and a 16% year-over-year profit loss. The food company is down -29.11% over the past year, though its price has climbed a slight +0.95% in the last three months. Farallon Capital has had a position in Dean Foods since the second quarter of 2013.
Taking the last spot on today’s list of midday losers is iPath S&P 500 VIX Short Term Futures TM ETN (NYSEARCA:VXX), down -5.42%. A new Q1 Soros buy, VXX is down -26.67% year-to-date.