Corinthian Colleges Inc (NASDAQ:COCO), Gulf Coast Ultra Deep Royalty Trust – Royalty Trust Unit (NASDAQ:GULTU) and Corium International Inc (NASDAQ:CORI) are making notable climbs on the market this Tuesday. Moving in the opposite direction are Ocwen Financial Corp (NYSE:OCN), Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) and dELiA*s, Inc. (NASDAQ:DLIA).
Seth Klarman Tells His Investors: Central Banks Are Treating Investors Like “Foolish Children”
"Surreal doesn't even begin to describe this moment," Seth Klarman noted in his second-quarter letter to the Baupost Group investors. Commenting on the market developments over the past six months, the value investor stated that events, which would typically occur over an extended time frame, had been compressed into just a few months. He noted Read More
Corinthian Colleges Continues Rally
Corinthian Colleges Inc (NASDAQ:COCO) jumped +21.75% today, putting its five-day gain at more than +115%. Billionaire George Soros initiated a position in the for-profit education company in Q2 and is likely applauding this week’s rebound, as COCO has declined -88.09% over the past six months.
Gulf Coast Ultra Deep Royalty Trust – Royalty Trust Unit (NASDAQ:GULTU) got an +11.46% boost. Leon Cooperman and John Paulson picked up new stakes in GULTU in Q2 2014, as did Farallon Capital. When 13F filings come out in November, it will be interesting to see who’s held on.
Corium International Inc (NASDAQ:CORI) climbed +10.5% this Tuesday. The commercial-stage biopharmaceutical company, another new Q2 buy for Farallon Capital, set a new 52-week low at the start of the month. However, it has gained +8.55% over the last five days.
Altisource Plunges Ahead of Earnings
Ocwen Financial Corp (NYSE:OCN) took an -18.09% dive today after New York regulator Benjamin Lawsky sent the company a letter saying he has found “serious issues” with the company’s systems and controls. With 2.58 million OCN shares in his equity portfolio as of Q2 (a 1.27% allocation), Leon Cooperman has quite a bit riding on this one.
Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) took a hit today as well. Its price fell -11.63%, bringing its 30-day loss to -17.55%. The real estate and mortgage portfolio management company is set to announce third quarter results on Thursday, and apparently, investors aren’t entirely optimistic. This also spells trouble for Cooperman.