Caesars Entertainment Corp (NASDAQ:CZR), Orexigen Therapeutics, Inc. (NASDAQ:OREX) and Fossil Group Inc (NASDAQ:FOSL) reached midday with major gains. Taking tumbles midday are Altisource Portfolio Solutions S.A. (NASDAQ:ASPS), Cal Dive International, Inc. (OTCMKTS:CDVI) and Stemline Therapeutics Inc (NASDAQ:STML).
Caesars Surges Thanks to Credit Agreement
Gates Capital Management's Excess Cash Flow (ECF) Value Funds have returned 14.5% net over the past 25 years, and in 2021, the fund manager continued to outperform. Due to an "absence of large mistakes" during the year, coupled with an "attractive environment for corporate events," the group's flagship ECF Value Fund, L.P returned 32.7% last Read More
Caesars Entertainment Corp (NASDAQ:CZR) reached midday up +27.11% thanks to reports that it has reached an agreement with creditors regarding its debt restructuring plan. Leon Cooperman, John Paulson and George Soros have positions in the casino operator, which despite today’s gain is down -34.03% YTD.
The share price of Orexigen Therapeutics, Inc. (NASDAQ:OREX) climbed +18.95% early in the day today, putting its five-day gain at +48.15%. The drug developer has gained 74.36% over the past month – much to the benefit of Farallon Capital, which as of Q2 holds 2.68 million OREX shares.
Fossil Group Inc (NASDAQ:FOSL) got an +8.16% boost this morning after surpassing analysts’ estimates on earnings and announcing a renewed deal with Michael Kors (NYSE:KORS). The company, a Ray Dalio holding, has gained +9.66% over the last three months.
Altisource Portfolio Solutions Plunges
Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) plunged -21.8% today, hitting a new low after announcing that it is discontinuing its Lender Placed Insurance brokerage line of business. ASPS, a long-time Leon Cooperman holding, has declined -63.4% year-to-date.
Cal Dive International, Inc. (OTCMKTS:CDVI) continues its freefall, its price dipping -21.74% by midday today. The company was delisted from the New York Stock Exchange just last week – a tough break for billionaire investor George Soros.
Also having a rough go this Wednesday is Stemline Therapeutics Inc (NASDAQ:STML), the share price of which fell -7.56% despite beating expectations on earnings. STML, a Farallon Capital holding, is down -28.47% YTD.