The top gainers on the market midday today are Gogo Inc (NASDAQ:GOGO), BioFuel Energy Corp. (NASDAQ:BIOF) and Noah Holdings Limited (ADR) (NYSE:NOAH). On the losing end are Kindred Biosciences Inc (NASDAQ:KIN), 58.com Inc (ADR) (NYSE:WUBA) and Sears Holdings Corp (NASDAQ:SHLD).
Gogo, BioFuel Surge Midday
Gogo Inc (NASDAQ:GOGO) surged +5.54% midday this Thursday following reports that Verizon may be interested in the company by way of a joint venture, acquisition or partnership. In the portfolio of billionaire investor George Soros since the first quarter of the year, Gogo is actually down -28.5% year-to-date.
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The share price of BioFuel Energy Corp. (NASDAQ:BIOF) climbed +5.32% early in the day despite news yesterday that Andrews & Springer LLC is investigating potential securities laws violations and fiduciary duty breach claims against the company’s board of directors. The David Einhorn and Dan Loeb pick has had a stellar 2014, its price up over +500% since the start of the year.
Taking the last spot on today’s list of midday gainers is Noah Holdings Limited (ADR) (NYSE:NOAH), the price of which jumped +5.06%. Today, Zacks Investment Research upgraded its rating of the company to strong buy, citing rising earnings estimates and positive earnings surprises in three of the last four quarters. NOAH has gained +18.91% over the past three months.
Kindred Biosciences Plunges Following Failed Trial Goal
Kindred Biosciences Inc (NASDAQ:KIN) plunged -26.35% midday today following the announcement that one of its three lead drug candidates has failed to reach a trial goal. Billionaire hedge fund manager Seth Klarman has held a stake in the company across the past three quarters, and Farallon Capital initiated a position in the firm in Q2 as well. Its price is down -6.89% YTD.
The price of 58.com Inc (ADR) (NYSE:WUBA) hit midday down -7.47%. Yesterday, the China-based online marketplace reported Q2 results and issued a week outlook for the months ahead. Since going public in 2013, the Tiger Global pick has climbed +91.13%.
Sears Holdings Corp (NASDAQ:SHLD) dipped -7.37% midday after reporting its sixth straight quarterly loss. The retailer’s price has declined -31.38% in 2014.