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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Charlie MungerA couple of years ago, Charlie Munger and Li Lu co-appeared in an interview in one of China's top finance magazines. As is the case with all of Munger's interviews and appearances, the interview contained some highly valuable insights and intelligent thoughts on life, investing, and psychology. Q2 2020 hedge fund letters, conferences and more Read More


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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