FleetCor Technologies, Inc. (NYSE:FLT), Concert Pharmaceuticals Inc (NASDAQ:CNCE) and Demandware Inc (NYSE:DWRE) are today’s top midday gainers. The losers are SeaWorld Entertainment Inc (NYSE:SEAS), Myriad Genetics, Inc. (NASDAQ:MYGN) and Cree, Inc. (NASDAQ:CREE).
FleetCor Surges on Acquisition Deal News
FleetCor Technologies, Inc. (NYSE:FLT) reached midday up +10.21% following news yesterday that it will buy payment services provider Comdata Inc. from Ceridian LLC as part of a $3.45 billion deal. Tiger Global has held a position in the company across several quarters, and both Steve Mandel and Richard Chilton initiated positions in FleetCor in the second quarter of 2013.
Coho Capital 2Q20 Commentary: Podcasts, The New Talk Radio
Coho Capital commentary for the second quarter ended June 30, 2020. Q2 2020 hedge fund letters, conferences and more Dear Partners, Coho Capital returned 46.6% during the first half of the year compared to a loss of 3.1% in the S&P 500. Many of our holdings, such as Netflix, Amazon, and Spotify, were perceived beneficiaries Read More
Concert Pharmaceuticals Inc (NASDAQ:CNCE) climbed +8.37% today, despite missing the mark yesterday on EPS expectations for Q2. Farallon Capital initiated a position in the clinical stage biopharmaceutical company during the first quarter of the year.
Up +8.04% midday, Demandware Inc (NYSE:DWRE) got a boost on a rating upgrade from Goldman Sachs, which set it as a buy. The company beat second quarter results estimates but plunged on the market last week. The e-commerce solutions provider and Julian Robertson pick is down -8.69% year-to-date.
Animal Treatment Concerns Take a Toll on SeaWorld
SeaWorld Entertainment Inc (NYSE:SEAS) plunged -30.78 midday today. The company reported disappointing Q2 results and slashed its revenue guidance for 2014, explaining that animal rights concerns have hurt attendance levels. The Steve Mandel pick has declined -35.35% in 2014.
Myriad Genetics, Inc. (NASDAQ:MYGN) dipped -9.56% after missing estimates on profit estimates. In Tiger Global’s portfolio since the fourth quarter of 2013, the molecular diagnostic company is up +66.23% this year.
The share price of Cree, Inc. (NASDAQ:CREE) declined -9.27% by midday today following the company’s results report yesterday. Its annual revenue increased by +19% and annual net income by +43%, but investors still apparently failed to be impressed. The semiconductor maker, a Ray Dalio pick, has declined -40.79% over the past year.