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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Michael Mauboussin Tips From Great Investors [Pt.2]

charles munger moat valuewalk Charlie Munger competitive advantage great companies great brands GARP value investing value investors Google Alphabet profit margins Berkshire HathawayThis is the second part of a short series on Michael J. Mauboussin's research document reflecting on 30 years of Wall Street analysis published in 2016. Q3 2020 hedge fund letters, conferences and more The document outlined Mauboussin's observations of successful investors throughout his three decades on the Street. This article starts at point six. Read More

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.


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.