Billionaire stock picks dELiA*s, Inc. (NASDAQ:DLIA), AngloGold Ashanti Limited (ADR) (NYSE:AU) and Enzon Pharmaceuticals Inc (NASDAQ:ENZN) made big gains early in the day this Monday. Moving in the opposite direction are Corinthian Colleges Inc (NASDAQ:COCO), American Realty Capital Properties Inc (NASDAQ:ARCP) and Laboratory Corp. of America Holdings (NYSE:LH).
Welcome to our latest issue of ValueWalk’s hedge fund update. Below subscribers can find an excerpt in text and the full issue in PDF format. Please send us your feedback! Featuring Point72 Asset Management losing about 10% in January, Millennium Management on a hiring spree, and hedge fund industry's assets under management swell to nearly Read More
dELiA*s Climbs Despite Delisting Reports
dELiA*s, Inc. (NASDAQ:DLIA) climbed +36% early in the day, though today’s boost may not be enough to save it from delisting – which media outlets have suggested could be imminent. In the Tiger Global portfolio since the fourth quarter of 2013, DLIA has declined -83.25% year-to-date.
AngloGold Ashanti Limited (ADR) (NYSE:AU) gained +21.16% after reporting a sharp rise in profits for the third quarter. The gold mining company, a long-time John Paulson investment, is still down -14.51% for the year.
Enzon Pharmaceuticals Inc (NASDAQ:ENZN) got a +12.09% boost early in the day, though it is still down -14.2% YTD. The biopharmaceutical company has been in Carl Icahn’s investment portfolio across several quarters, and fellow billionaire George Soros initiated a position in the firm in Q2.
American Realty Capital Properties Tumbles
Corinthian Colleges Inc (NASDAQ:COCO) dipped -9.78% this Monday. The for-profit educational company has faced a significant amount of criticism in recent months, and last week, yet another lawsuit was filed against the firm. The new Q2 Soros buy has declined -90.89% YTD.
American Realty Capital Properties Inc (NASDAQ:ARCP) fell -8.34% after this morning’s announcement that a deal with RCS Capital Corp. for the purchase of Cole Capital is off. ARCP, another Q2 acquisition for Soros, has lost -33.58% over the past month.
Laboratory Corp. of America Holdings (NYSE:LH) dipped -7.93% in the wake of news that it will buy Covance Inc. in a deal worth 6.1 billion. Despite today’s drop, the clinical laboratory company, a Ray Dalio holding, has gained +9.92% this year.