Petrobras Plunges in the Wake of Brazilian Election Results

Petrobras Plunges in the Wake of Brazilian Election Results

Odyssey Marine Exploration Inc (NASDAQ:OMEX), Tasman Metals Ltd (NYSEMKT:TAS) and ANADIGICS, Inc. (NASDAQ:ANAD) got a strong start to the day, making notable gains early this Monday. In the red are Sarepta Therapeutics Inc (NASDAQ:SRPT), Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) and C&J Energy Services Inc (NYSE:CJES).

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ODEX Continues to Climb

Odyssey Marine Exploration Inc (NASDAQ:OMEX) climbed +10.48% early in the day as it continues to ride the wave of last week’s U.K. approval to recover artifacts from HMS Victoria. A new second quarter acquisition for billionaire investor George Soros, OMEX has gained +30.56% over the past month.


Tasman Metals Ltd (NYSEMKT:TAS) gained +4.92% today. A long-time Soros pick (he’s held 1.7 million TAS shares since 2011), the company’s share price is still down -36.63% year-to-date.

ANADIGICS, Inc. (NASDAQ:ANAD), yet another Soros investment, reached midday up +4.24%. Despite today’s gain, the radio frequency semiconductor solutions designer is down -66.83% YTD.

Sarepta Plunges on Regulatory Setback

Sarepta Therapeutics Inc (NASDAQ:SRPT) tumbled -34.63% today after the company announced a regulatory setback for one of its treatments. The development-stage biotech company has some saying it is running out of money. George Soros increased his position in SRPT from 25,000 to one of 680,000 shares in Q2. It will be interesting to see what he’s done with his stake in Q3 when 13Fs are disclosed next month.

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) posted a -14.46% loss early in the day in the wake of yesterday’s reelection of Dilma Rouseff as the President of Brazil. Ray Dalio initiated a position in the company in the first quarter of 2013, and as of the second quarter of this year, he holds 856,000 PBR shares. Company shares have declined -20.54% in 2014.

C&J Energy Services Inc (NYSE:CJES) dipped -10.87% and entered oversold territory today. The oil and gas production services provider, a new Q2 acquisition for Soros, has dipped -45.83% over the past three months.


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