Bankruptcy Imminent, dELiA*s Dives

Actuate Corp (NASDAQ:BIRT), ITT Educational Services, Inc. (NYSE:ESI) and Silicon Image, Inc. (NASDAQ:SIMG) hit midday in the green this Friday. dELiA*s, Inc. (NASDAQ:DLIA), American Eagle Outfitters (NYSE:AEO) and Allied Nevada Gold Corp. (NYSEMKT:ANV), on the other hand, are in the red.

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This Tiger Cub Giant Is Betting On Banks And Tech Stocks In The Recovery

D1 CapitalThe first two months of the third quarter were the best months for D1 Capital Partners' public portfolio since inception, that's according to a copy of the firm's August update, which ValueWalk has been able to review. Q2 2020 hedge fund letters, conferences and more According to the update, D1's public portfolio returned 20.1% gross Read More


Actuate Soars Thanks to Acquisition Deal

Actuate Corp (NASDAQ:BIRT) soared +87.29% today on news that it will be acquired by Open Text Corporation in a $330 million deal. The software solutions provider has been in billionaire George Soros’ investment portfolio since the first quarter of 2013.

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ITT Educational Services, Inc. (NYSE:ESI) reached midday up +24.39% in the wake of a $100 million term loan agreement with Cerberus Business. ESI is a new buy for George Soros, who in Q3 purchased 52,000 of the company’s shares.

Silicon Image, Inc. (NASDAQ:SIMG) gained +12.85% after announcing that Qualcomm Technologies has made a $7 million investment in its new subsidiary, Qterics. The connectivity solutions provider is yet another Soros pick – the billionaire purchased 1.4 million SIMG shares in Q3.

dELiA*s Dives on Bankruptcy Announcement

Struggling apparel retailer dELiA*s, Inc. (NASDAQ:DLIA) plummeted -84.69% early in the day this Friday following the announcement that it will file for bankruptcy. The company failed to raise financing or find a buyer to stay afloat. This is a big blow for Leon Cooperman, who initiated a position in DLIA in Q3, and for Chase Coleman’s Tiger Global, which has had a stake since 2013.

American Eagle Outfitters (NYSE:AEO) tumbled -13.54% – the result of yesterday’s slashed earnings forecast. Ray Dalio’s Bridgewater Associates has held a small position in the company since the first quarter of 2014. AEO is down -17.15% year-to-date.

The share price of Allied Nevada Gold Corp. (NYSEMKT:ANV) fell -8.97% in early trading after the company lowered its sales guidance for 2014. John Paulson has maintained a stake in ANV across several quarters, and George Soros threw his hat into the ring on the company in Q2. Allied Nevada has declined -61.55% YTD.

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