Dan Loeb Gets Stung on Bed Bath & Beyond Stumble

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Dan Loeb Gets Stung on Bed Bath & Beyond Stumble

Kite Pharma Inc (NASDAQ:KITE), Seventy Seven Energy Inc (NYSE:SSE) and Autohome Inc (ADR) (NYSE:ATHM) reached midday making gains this Friday. E2open Inc (NASDAQ:EOPN), Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) and Bed Bath & Beyond Inc. (NASDAQ:BBBY), on the other hand, are in the red.

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Kite Pharma Keeps Climbing

Kite Pharma Inc (NASDAQ:KITE) climbed +8.38% early in the day, putting its five-day gain at +27.43%. The clinical-stage biopharmaceutical company was one of George Soros’ new acquisitions in the third quarter of last year – and a good one at that, given the stock’s +130% three-month rally.

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Seventy Seven Energy Inc (NYSE:SSE) surged +7.34% this Friday, though it’s still down nearly -80% since splitting from Chesapeake Energy last June. Short interest in the firm is on the rise as well. A long-time CHK shareholder, Carl Icahn reported a position in SSE in Q3.

Autohome Inc (ADR) (NYSE:ATHM) hit midday up +7.25%, bringing its one-month gain to nearly +13%. The China-based online auto portal is a major holding for Chase Coleman’s Tiger Global, which holds 6.74 million ATHM shares. George Soros and Wilbur Ross have positions in the company as well.

Bed Bath & Beyond Stumbles on Sales

Cloud-based software solution provider E2open Inc (NASDAQ:EOPN) plummeted -38.59% in the wake of a weak earnings forecast. Billionaire investor Wilbur Ross has had a stake in the company since the third quarter of 2012.

The share price of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) dipped -7.17% early today. Interestingly, Canaccord Genuity just initiated coverage of the stock, giving it a buy rating and a price target of $22.00. The biotech stock, a John Paulson holding, has gained +38% over the past three months.

Bed Bath & Beyond Inc. (NASDAQ:BBBY) tumbled -7.16% after news broke that the company missed the mark on its third quarter sales. Dan Loeb’s Third Point Capital initiated a position in the retailer during the third quarter of last year with the purchase of three million shares, joining fellow billionaire Ray Dalio as a BBBY backer. Despite today’s dip, the stock has climbed +25% in the last six months.

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