Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) rebounded early in the day this Friday after a dismal week on the market, and Demandware Inc (NYSE:DWRE) climbed on the market as well. Posting significant losses midday today are Alpha Natural Resources, Inc. (NYSE:ANR), NovaGold Resources Inc. (NYSEMKT:NG) and Gold Fields Limited (ADR) (NYSE:GFI).
Corsair Capital was down by about 3.5% net for the third quarter, bringing its year-to-date return to 13.3% net. Corsair Select lost 9.1% net, bringing its year-to-date performance to 15.3% net. The HFRI – EHI was down 0.5% for the third quarter but is up 11.5% year to date, while the S&P 500 returned 0.6% Read More
Fannie Mae and Freddie Mac Bounce Back
Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) – climbed +21.85% early in the day today, and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) – surged +21.62%. Both entities took a major hit this week after a court ruling barring investors from benefiting from the companies’ profits. This has implications for a number of billionaire investors, including Bill Ackman and Bruce Berkowitz, though today’s rebound may offer some relief.
Also making a notable jump today is Demandware Inc (NYSE:DWRE), up +12.65%. The e-commerce solutions provider, a Julian Robertson pick, has gained +13.79% over the past month.
Alpha Natural Resources Continues Decline
The share price of Alpha Natural Resources, Inc. (NYSE:ANR) fell -8.37% today. It’s been a tough week for the coal company, which on Monday announced that it will idle three of its mines. In the investment portfolio of Brazilian billionaire Jorge Lemann since the first quarter of this year, ANR has declined -70.03% year-to-date.
NovaGold Resources Inc. (NYSEMKT:NG) dipped -6.97% early in the day, putting its one-month loss at -27.39% (though it’s still up +10.63% this year). Seth Klarman and John Paulson are long-time NovaGold shareholders, with 21.7 million and 35.8 million NG shares, respectively, as of Q2.
Gold Fields Limited (ADR) (NYSE:GFI) declined -6.71% this Friday, though it’s still up +18.75% YTD. GFI is also a John Paulson pick, and it’s part of Ray Dalio’s holdings as well.