Perfect World Co. Ltd. (NASDAQ:PWRD), SouFun Holdings Ltd. (NYSE:SFUN) and Linn Energy LLC (NASDAQ:LINE) are starting the day strong this post-holiday Friday. International Tower Hill Mines (NYSE:THM), Synaptics Inc. (NASDAQ:SYNA) and CHC Group Ltd. (NYSE:HELI) took tumbles early in the day.
This Tiger Cub Giant Is Betting On Banks And Tech Stocks In The Recovery
The 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
Perfect World Surges on Buyout Offer
Perfect Word Co. Ltd. surged +21.83% after receiving a buyout proposal from Chairman Michael Yufeng Chi. The offer puts the game developer’s valuation at about $1 billion. Thomas Steyer’s Farallon Capital picked up a stake in the company during the first quarter of 2014 and as of its most recent regulatory filing holds 478,000 PWRD shares.
SouFun Holdings gained +10.15% on the heels of Beijing’s announcement of a higher housing credit limit – something that will have a positive impact on the China-based online real estate portal. Chase Coleman’s Tiger Global increased its SFUN stake to one of 14 million shares during the third quarter of last year.
Linn Energy climbed +8.69% early in the day, rebounding back after tumbling prior to the opening bell. The company cut its expected capital expenditures in half and slashed its dividend to $1.25 per share from $2.90. A long-time Leon Cooperman holding, Linn Energy declined more than -65% in 2014.
Synaptics Tumbles on Downgrade
International Tower Hill Mines dipped -14.44% early in the day this Friday. Billionaire investor John Paulson has had a position in the company since the third quarter of 2010 and as of his most recent regulatory filing holds 8.91 million THM shares.
Synaptics Inc. tumbled -8.34% after being downgraded from outperform to sector perform by Pacific Crest. A developer of human interface solutions, Synaptics is a new third quarter acquisition for George Soros.
CHC Group fell -7.76%, putting its one-month loss at nearly -35%. The commercial helicopter operator has been in the Farallon Capital portfolio since the first quarter of last year.