Today’s top midday gainers on the market are NII Holdings Inc (OTCMKTS:NIHDQ), Nanosphere, Inc. (NASDAQ:NSPH) and Pendrell Corp (NASDAQ:PCO). Endeavour International Corporation (NYSE:END), dELiA*s, Inc. (NASDAQ:DLIA) and Sears Holdings Corp (NASDAQ:SHLD) are this Wednesday’s biggest losers.
Jim Chanos has a new short target in his sights. Earlier this week, the hedge fund manager disclosed that he is betting against "legacy" data centers that face growing competition from the trio of technology giants, which have previously been their biggest customers. The fund manager, who is best known for his winning bet against Read More
NII Holdings Jumps
NII Holdings Inc (OTCMKTS:NIHDQ) jumped +26.92% midday. A holding company for Nextel’s operations in Latin America, NIHDQ has performed poorly this year, its price falling -98.29% year-to-date. Billionaire George Soros initiated a position in the firm in Q2, meaning he may be expecting a turnaround.
Nanosphere, Inc. (NASDAQ:NSPH) climbed +7.58% today. Another new Q2 buy for Soros, NSPH is down -75.48% YTD. Short interest in the molecular diagnostics firm declined by -22.4% in September.
Taking the third and final spot on today’s list of midday gainers is Pendrell Corp (NASDAQ:PCO), the share price of which climbed +7.14%. A fully-integrated intellectual property and advisory firm, Pendrell is a long-time Farallon Capital holding. Despite today’s gain, PCO is down -32.59% in 2014.
Sears Plunges on Insurance Announcement
Endeavour International Corporation (NYSE:END) reached midday down -16.26% this Wednesday, putting its five-day loss at -47.66%. As of the second quarter of this year, George Soros holds 83,000 END shares. Its price has declined -97.02% YTD.
dELiA*s, Inc. (NASDAQ:DLIA) plunged -13.55% early in the day. It has declined -28.49% in the past five days, -65.81% in the past month, and -81.54% this year. In late September, the struggling apparel retailer said it was exploring strategic alternatives, including a sale or merger. Such a deal would bring much relief to investors, including Tiger Global.
Sears Holdings Corp (NASDAQ:SHLD) dipped -13.17% today following news that three insurance firms are planning on reducing their coverage of the company’s suppliers. Under the watch of billionaire investor and company CEO Edward Lampert for quite some time, SHLD has struggled in recent months. Its price has declined -57.99% in the past year.