ManpowerGroup Inc. (NYSE:MAN), Biogen Idec Inc. (NASDAQ:BIIB) and Synaptics Inc. (NASDAQ:SYNA) started off strong on Friday, their prices climbing significantly within the first hour of trading. Eldorado Gold Corp. (NYSE:EGO), Chicago Bridge & Iron Company (NYSE:CBI) and Petroleo Brasileiro Petrobras SA (NYSE:PBR).
Corsair 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
Bridgewater Picks Manpower Group, Biogen Idec Surge
ManpowerGroup Inc. surged +11.79% after reporting fourth quarter and full-year 2014 results, including a net EPS of $1.47 for Q4. The workforce solutions provider, in which Ray Dalio’s Bridgewater Associates has a small allocation, is up about +5% for the year.
Biogen Idec, another Dalio pick, gained+10.67% this morning – the result of a strong earnings report yesterday. Q4 revenue increased 34% year-over-year, and adjusted earnings 74%. The biotech company has gained +21% over the past three months.
The share price of Synaptics surged +10.17% after delivering fiscal second-quarter results and beating Wall Street estimates. Billionaire George Soros picked up a stake in the interface solutions designer during the third quarter of 2014.
Buffett Pick Chicago Bridge & Iron Dives
Eldorado Gold plunged -19.39% after Greece closed the door on one of its major mining projects. The stock took a hit yesterday as well on slumping gold prices. In the Bridgewater Associates portfolio since late 2012, the stock is down about -25% YTD.
Chicago Bridge & Iron Company slumped -12.43%, putting its YTD loss at approximately -22%. Earlier this week, analysts at Deutsche Bank slashed their price target on the stock, and yesterday, news broke that one of its projects will be delayed. Warren Buffett initiated a position in CBI during the first quarter of 2013, and David Tepper picked up a stake the subsequent quarter.
Petroleo Brasileiro Petrobras SA fell -7.19% today, bringing its one-month loss to nearly -18%. Both Ray Dalio and George Soros have stakes in the Brazil-based oil and gas firm.