Qualcomm Plummets Following Investigation Reports

Kinross Gold Corporation (NYSE:KGC), IAMGOLD Corp (NYSE:IAG) and Tableau Software Inc (NYSE:DATA) are making major gains on the market this Thursday. In the red are Genworth Financial Inc (NYSE:GNW), Silver Spring Networks Inc (NYSE:SSNI) and Qualcomm, Inc. (NASDAQ:QCOM).

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Berkshire Hathaway Warren BuffettBuying private businesses is easier than acquiring public firms, and investors should avoid selling good investments at all costs, according to the Oracle of Omaha, Warren Buffett. Q2 2020 hedge fund letters, conferences and more In an interview with CNBC in March 2013, Buffett was asked if he was looking at any businesses, in particular, Read More


Tableau Software Gets Earnings Boost

Kinross Gold Corporation (NYSE:KGC) is trading up +12.51% for the day after releasing its third quarter earnings results. The gold mining company reported $945.7 million in revenue and $0.06 in EPS. In Ray Dalio’s investment portfolio since the fourth quarter of 2012, KGC is still down -48.86% year-to-date.

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IAMGOLD Corp (NYSE:IAG) climbed +11.84% early in the day, though it’s still down -36.28% for the month. A long-time John Paulson holding, IAG is bouncing back after hitting a four-year low yesterday.

Tableau Software Inc (NYSE:DATA) got a +11.07% boost from its earnings report. The company revealed record revenue for Q3, hitting the $100 million mark for the first time. Julian Robertson lifted his DATA allocation in Q2 to one of 348,000 shares, and George Soros reduced his to 50,000. Tableau has gained +37.45% over the past three months.

Qualcomm Plunges

Genworth Financial Inc (NYSE:GNW) tumbled -37.24% today, putting its YTD loss at -43.05%. It posted a record net loss this week and is facing a tough turnaround ahead. John Paulson initiated a position in the company in 2012 and as of Q2 2014 holds nine million GNW shares. Bruce Berkowitz is a shareholder as well.

The share price of Silver Spring Networks Inc (NYSE:SSNI) dipped -11.86% early in the day. Though it beat Q3 EPS estimates by $0.05, it also announced that its CEO will step down – something that clearly made investors nervous. SSNI, a Richard Chilton holding, has declined -64.05% YTD.

Qualcomm, Inc. (NASDAQ:QCOM) plummeted -11.39% in the wake of reports that it’s under investigation by the FTC regarding its patent licensing business. The chipmaker, a long-time Leon Cooperman investment, has declined -11.58% over the past five days.

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