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).
David Einhorn Buys Three New Stocks: These Are The Names And Theses (Q3 Letter)
David Einhorn's Greenlight Capital funds returned 5.9% in the third quarter of 2020, compared to a gain of 8.9% for the S&P 500 in the same period. This year has been particularly challenging for value investors. Growth stocks have surged as value has struggled. For Greenlight, one of Wall Street's most established value-focused investment funds, 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.