Microchip Technology Dips on Sales Warning

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Microchip Technology Dips on Sales Warning

Billionaire stock picks EXACT Sciences Corporation (NASDAQ:EXAS), Nanosphere, Inc. (NASDAQ:NSPH) and Rock Creek Pharmaceuticals Inc (NASDAQ:RCPI) are making noteworthy gains on the market this Friday. On the other end of the stick are GTx, Inc. (NASDAQ:GTXI), Knowles Corp (NYSE:KN) and Microchip Technology Inc. (NASDAQ:MCHP).

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Medicaid News Gives EXACT Sciences a Boost

EXACT Sciences Corporation (NASDAQ:EXAS) soared +34.99% today following the news yesterday that one of its products, Cologuard, will be covered by Medicare and Medicaid. The molecular diagnostics company is a new acquisition for Tiger Global, which picked up two million EXAS shares in Q2. The stock has climbed +51.82% over the past three months.

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Nanosphere, Inc. (NASDAQ:NSPH) got a +32.99% boost today, putting its five-day gain at +30.42%. A new second quarter buy for billionaire investor George Soros, NSPH is still down -70.1% year-to-date.

Rock Creek Pharmaceuticals Inc (NASDAQ:RCPI) climbed +8.33% this Friday. Also a Q2 Soros acquisition, RCPI has posted a -75.84% loss in 2014.

GTx Inc. Plunges, Approaches 52-Week Low

GTx, Inc. (NASDAQ:GTXI) plunged -15.45% today, putting its YTD loss at over -70%. It is currently trading cents away from its 52-week low of $0.43. GTXI is yet another new second quarter buy for George Soros.

The share price of Knowles Corp (NYSE:KN) fell -11.77% following the announcement of its preliminary third quarter results, which are expected to fall short of expectations. With 1.2 million KN shares as of Q2, Farallon Capital has maintained a position in the company across two quarters. KN is down -21.61% YTD.

Microchip Technology Inc. (NASDAQ:MCHP) dipped -11.35% after cutting its sales outlook for the quarter and warning investors to expect bad news from its sector peers. The Ray Dalio holding has declined -12.23% over the past five days.

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