Einstein Noah Restaurant Group, Inc. (NASDAQ:BAGL), Athlon Energy Inc (NYSE:ATHL) and Tibco Software Inc. (NASDAQ:TIBX) are the top-gaining billionaire stock picks midday this Monday. On the losing end are Civeo Corp (NYSE:CVEO), Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) and KiOR Inc (OTCMKTS:KIOR).
Einhorn’s FOF Re-positions Portfolio, Makes New Seed Investment In Year Marked By “Speculative Exuberance”
It has not just been rough year for David Einhorn's own fund. Einhorn's Greenlight Masters fund of hedge funds was down 3% net for the first half of 2020, matching the S&P 500's return for those six months. In his August letter to investors, which was reviewed by ValueWalk, the Greenlight Masters team noted that Read More
Tibco Software Climbs on Acquisition News
The share price of Einstein Noah Restaurant Group, Inc. (NASDAQ:BAGL) surged +50.34% early in the day today following news that it’s been sold to German conglomerate JAB Holding Company in a deal worth $374 million. David Einhorn stands to make a nice profit on this one, as has maintained a position in BAGL across several quarters. As of the second quarter of this year, he owned 6.73 million shares.
Athlon Energy Inc (NYSE:ATHL) reached midday up +24.6%. The surge was spurred by news that Encana will purchase the oil and gas company for $5.93 billion. In Richard Chilton’s portfolio since the third quarter of 2013, Athlon has climbed +81.16% over the past year.
Taking the third and final spot on today’s list of midday gainers is Tibco Software Inc. (NASDAQ:TIBX), up +20.96%. The jump is again the result of a sale, this time to private equity firm Vista Equity Partners for $4.3 billion – the largest buyout in tech this year. With 5.78 million TIBX shares since Q2 2014, George Soros is likely to profit from the deal, as is fellow shareholder Ray Dalio.
Civeo Corp (NYSE:CVEO) plummeted -45.58% after announcing that it will continue as a C corporation while redomiciling to Canada. David Einhorn initiated a 6.15-million-share position in the company during the second quarter of 2014.
Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) dipped -9.6% this Monday, bringing its one-month loss to -24.27%. Ray Dalio initiated a position in the Brazil-based oil and gas company during the first quarter of 2013, and as of the second quarter of this year, he holds 856,000 PBR shares.
KiOR Inc (OTCMKTS:KIOR) dropped -9.17% midday. The renewable fuels company, a new Q2 George Soros buy, has declined -93.51% YTD.