Digital River, Inc. (NASDAQ:DRIV), Gigamon Inc (NYSE:GIMO) and Odyssey Marine Exploration Inc (NASDAQ:OMEX) are making significant gains on the market this Friday, while DryShips Inc. (NASDAQ:DRYS), Cal Dive International, Inc. (NYSE:DVR) and Pandora Media Inc (NYSE:P) are headed in the downward direction. Here’s a look at how much and why.
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Acquisition Announcement Sends Digital River Inc. Soaring
E-commerce services provider Digital River, Inc. (NASDAQ:DRIV) reached midday up +47.58% on the heels of an announcement that it will be acquired in a deal worth $840 million. Its price has climbed more than +35% year-to-date. Billionaire investor George Soros initiated a position in DRIV at the start of the year, with the purchase of 467,000 shares in Q1. As of Q2, he holds 667,000 Digital River shares.
Gigamon Inc (NYSE:GIMO) got a +16.13% boost early in the day in the wake of its earnings report, out yesterday. Moreover, Bank of America upgraded its rating of the company from underperform to neutral. In Julian Robertson’s portfolio since the first quarter of the year, Gigamon is still down -51.64% YTD.
Odyssey Marine Exploration Inc (NASDAQ:OMEX) surged +12.56% after getting approval in the UK to recover artifacts from the HMS Victory shipwreck. The shipwreck search, recovery and marketing company, a new Q2 buy for George Soros, has gained +15.75% over the past five days.
Pandora Plunges as Growth Slows
DryShips Inc. (NASDAQ:DRYS) plunged -22.75% after announcing a secondary offering of common stock. In Richard Chilton’s portfolio since the first quarter of 2012, DRYS has declined -66.91% this year.
Cal Dive International, Inc. (NYSE:DVR) fell -16.63% by midday today, putting its one-month loss at -72.73%. This new second quarter buy has yet to pay off for George Soros.
Pandora Media Inc (NYSE:P) tumbled -15.05% early in the day – the result of slowed growth in the third quarter, announced yesterday. The internet radio service has had a rough go in 2014, its price falling -26.43% YTD. Julian Robertson purchased 40,000 shares of the company in Q2.