Leon Cooperman to Cash in on Atlas Energy Acquisition

Doral Financial Corp. (NYSE:DRL), Nanosphere, Inc. (NASDAQ:NSPH) and Atlas Energy LP (NYSE:ATLS) made major gains early in the day this Monday. In the red are DryShips Inc. (NASDAQ:DRYS), Mitek Systems, Inc. (NASDAQ:MITK) and AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO).

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Michael Mauboussin: Here’s what active managers can do

michael mauboussin, Credit Suisse, valuation and portfolio positioning, capital markets theory, competitive strategy analysis, decision making, skill versus luck, value investing, Legg Mason, The Success Equation, Think Twice: Harnessing the Power of Counterintuition, analysts, behavioral finance, More Than You Know: Finding Financial Wisdom in Unconventional Places, academics , valuewalkThe debate over active versus passive management continues as trends show the ongoing shift from active into passive funds. Q2 2020 hedge fund letters, conferences and more At the Morningstar Investment Conference, Michael Mauboussin of Counterpoint Global argued that the rise of index funds has made it more difficult to be an active manager. Drawing Read More


Atlas Energy Soars on Buy News

The share price of Doral Financial Corp. (NYSE:DRL) surged +30.62% on the heels of a Puerto Rico court ruling in favor of the company. Should things go Doral’s way, it could be entitled to a $230 million tax refund. A new Q2 buy for billionaire investor George Soros, DRL has gained +27.11% over the past five days.

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Nanosphere, Inc. (NASDAQ:NSPH) gained +24.25% today after announcing that it has received 510(k) clearance from the FDA for one of its products. Also a new acquisition for Soros during the second quarter of the year, Nanosphere has gained +53.31% in the last five days. However, it is still down -64.85% year-to-date.

Atlas Energy LP (NYSE:ATLS) surged +19.41% this Monday after news broke that Targa Resources Corp. and Targa Resources Partners LP have agreed to buy it and Atlas Pipeline Partners LP in deals valued at a total of $7.7 billion. With nearly 4.1 million ATLS shares in his portfolio as of Q2 and having had a position in the company since 2011, Leon Cooperman stands to benefit from the deal.

DryShips Plunges

DryShips Inc. (NASDAQ:DRYS) plunged -17.47%, approaching its 52-week low of $1.49. The shipping company announced today the withdrawal of its public senior notes, and Imperial Capital downgrading its rating. Richard Chilton has had a stake in the ocean transportation services provider since Q1 2012, and as of Q2 2014, he holds 2.2 million DRYS shares.

Mobile software company Mitek Systems, Inc. (NASDAQ:MITK) dipped -12.5% today, putting its YTD loss at -66.33%. George Soros bought 16,000 MITK shares during the second quarter of this year.

The share price of AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) fell -10.73%. In Seth Klarman’s investment portfolio since the fourth quarter of 2010, AVEO is yet another new Q2 buy for George Soros. Its price has declined -52.99% this year.

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