Qualcomm Plummets Following Investigation Reports

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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Corsair CapitalCorsair Capital was down by about 3.5% net for the third quarter, bringing its year-to-date return to 13.3% net. Corsair Select lost 9.1% net, bringing its year-to-date performance to 15.3% net. The HFRI – EHI was down 0.5% for the third quarter but is up 11.5% year to date, while the S&P 500 returned 0.6% 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.


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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