Digital River Inc. (NASDAQ:DRIV), Sanchez Energy Corp. (NYSE:SN) and SM Energy Co. (NYSE:SM) made major gains on the market this Wednesday. dELiA*s Inc. (NASDAQ:DLIA), B/E Aerospace Inc. (NASDAQ:BEAV) and Voltari Corp. (NASDAQ:VLTC), on the other hand, posted notable losses.
Incredible Tax Breaks: How Economic Opportunity Zones Work (Special Report)
This is the first part of a multi-part series on Economic Opportunity Zones. The tax-efficient zones were brought in as part of the Tax Cuts and Jobs Act of 2017 to try and stimulate economic activity in underdeveloped regions. Q2 2020 hedge fund letters, conferences and more The following articles will cover the benefits Read More
Digital River Gains on Microsoft Deal
Digital River Inc. ended the day up +42.79% after nailing down an agreement with Microsoft through March 2017. The end-to-end e-commerce solutions provider, in George Soros’ portfolio since the first quarter of the year, has climbed +30.35% in 2014.
Sanchez Energy soared +27.97% today thanks to rallying oil prices. The company’s had a rough go in recent weeks, its price falling -70.31% over the past three months. George Soros picked up 486,000 SN shares in Q2 of this year but reduced his position to 116,000 share in Q3.
SM Energy gained +21.1% today, putting its five-day performance at +26.68%. A new third quarter acquisition for Ray Dalio’s Bridgewater Associates, the independent energy company is still down -54.01% year-to-date.
dELiA*s Decline Continues
dELiA*s Inc. continues to tumble and today dipped -25.93%. As of the their third quarter 13F filings, both Leon Cooperman and Chase Coleman’s Tiger Global had stakes in the struggling apparel retailer.
B/E Aerospace Inc. tumbled -24.54% after completing the spinoff of KLX, its shares no longer reflecting the value of the split off entity. The aircraft cabin interior products manufacturer has been in George Soros’ portfolio since the start of the year.
Voltari Corp. closed the day down -7.88%, putting its five-day loss at -30.68%. The company has been part of Carl Icahn’s holdings since the second quarter of 2013.