SeaWorld Entertainment Inc Plunges on Q2 Report

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 LogoCoho 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.