Bankruptcy Imminent, dELiA*s Dives

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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Corsair Took A Hit From Small-Cap Underperformance In Q3; Says Evergrande Not The Next Lehman Brothers

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

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.


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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