Fraud Allegations Dog 21Vianet Group as Share Price Plummets

Fraud Allegations Dog 21Vianet Group as Share Price Plummets

Auxilium Pharmaceuticals, Inc. (NASDAQ:AUXL), Turquoise Hill Resources Ltd (NYSE:TRQ) and Gogo Inc (NASDAQ:GOGO) are today’s top gainers midday. The losers are E2open Inc (NASDAQ:EOPN), dELiA*s, Inc. (NASDAQ:DLIA) and 21Vianet Group Inc (NASDAQ:VNET).

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DG Value Adds 36.4% YTD As Distressed Stocks Surge

Dov Gertzulin's DG Capital is having a strong year. According to a copy of the hedge fund's letter to investors of its DG Value Partners Class C strategy, the fund is up 36.4% of the year to the end of June, after a performance of 12.8% in the second quarter. The Class C strategy is Read More

Auxilium Pharmaceuticals Climbs Following Restructuring Announcement

Auxilium Pharmaceuticals, Inc. (NASDAQ:AUXL) surged +7.9% early in the day today. This week, the company announced restructuring plans, including a 30% reduction of its workforce. Billionaire investor John Paulson initiated a position in the specialty biopharmaceutical company during the first quarter of 2014 with the purchase of four million AUXL shares.


Turquoise Hill Resources Ltd (NYSE:TRQ) climbed +6.8% this Thursday. The stock entered oversold territory last Friday, and this week, the company announced a setback on one of its projects. However, its price is up +10.8% over the past five days. Ray Dalio has a small stake in this one.

Taking the third and final spot on today’s list of midday gainers is Gogo Inc., up +6.65% after revealing a new partnership with T-Mobile. In George Soros’ investment portfolio since the first quarter of the year, Gogo Inc (NASDAQ:GOGO) is down -26.34% YTD but has performed +19.98% in the past month.

E2open, dELiA*s Dive on Quarterly Data, 21Vianet suffer from fraud allegations

E2open Inc (NASDAQ:EOPN) reached the middle of the day down -29.66%. Yesterday, the company provided preliminary second-quarter results and adjusted its full-year revenue guidance, apparently leaving investors disappointed. The enterprise software company, a Wilbur Ross investment, is down -54.37% YTD.

dELiA*s, Inc. (NASDAQ:DLIA) plummeted -28.83% today on the heels of a net revenue decline of 22.4% year-over-year, announced yesterday. The Tiger Global pick had a rough go in 2014, with its price down -62.48% YTD.

21Vianet Group Inc (NASDAQ:VNET) fell -17.15% as it continues to suffer the fall-out of fraud allegations, reported yesterday. Trinity Research Group has accused the Chinese internet company of being a Ponzi scheme.

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