Petroleo Brasileiro Petrobras SA (NYSE:PBR), Mazor Robotics Ltd. (NASDAQ:MZOR) and Rio Tinto (NYSE:RIO) started off the day strong and are this Monday’s top-gaining billionaire stock picks midday. The biggest losers midday are Sunesis Pharmaceuticals Inc. (NASDAQ:SNSS), Endeavour International Corporation (NYSE:END) and Globalstar Inc. (NYSEMKT:GSAT).
Value Partners Asia ex-Japan Equity Fund has delivered a 60.7% return since its inception three years ago. In comparison, the MSCI All Counties Asia (ex-Japan) index has returned just 34% over the same period. The fund, which targets what it calls the best-in-class companies in "growth-like" areas of the market, such as information technology and Read More
Brazilian Elections Spur PBR Surge
Petroleo Brasileiro Petrobras SA reached midday up +14.6% – largely a reaction to surprising presidential election results in Brazil that will force a runoff later this month. In fact, a number of Brazilian stocks have climbed following the news. With 856,000 PBR shares in his investment portfolio as of Q2, Ray Dalio stands to make a gain off of this one.
Mazor Robotics climbed +10.09% early in the day, just two weeks after hitting a new 52-week low. The Israeli-based medical company has had a tough go in 2014, its price falling -37.35% year-to-date. It’s been in George Soros’ portfolio since the first quarter of the year.
Taking the third and final spot on today’s list of midday gainers is Rio Tinto, the share price of which surged +9.62%. The international mining company, a Jorge Lemann and Ray Dalio pick, recently had its buy rating reiterated by analysts at both Jeffries Group and Deutsche Bank.
Globalstar Dips on Short Report
Sunesis Pharmaceuticals sank -71.84% today, reaching a 52-week low after announcing that one of its experimental drugs has failed to reach its primary endpoint. Year-to-date, SNSS has declined -62.45%. Farallon Capital initiated a position in the biopharmaceutical company during the first quarter of 2013 and as of Q2 2014 holds 670,000 shares.
Endeavor International dipped -11.93% early in the day, putting its five-day loss at -31.01%. On the first of the month, the company announced a $440 million senior secured term loan. An independent oil and gas company, END is a new Q2 buy for billionaire investor George Soros. Its price has fallen -96.57% this year.
Globalstar had a rough start to the week as well. Its price fell -9.39% following the publication of a 66-page report released by Kerrisdale Capital calling the company’s equity “worthless.” George Soros purchased 2.57 million GSAT shares in Q2, putting him in an interesting position with GSAT – similar to what he’s facing with Herbalife and Bill Ackman.