GameStop Gains – Even After Reporting Decline in Sales

GameStop Gains – Even After Reporting Decline in Sales

Intrexon Corp. (NYSE:XON), GameStop and Aspen Aerogels Inc. (NYSE:ASPN) hit midday with notable gains this Wednesday. Freeport-McMoRan Inc. (NYSE:FCX), Tasman Metals Ltd. (NYSEMKT:TAS) and Teck Resources Ltd. (NYSE:TCK), on the other hand, are taking tumbles.

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GameStop Gains

Intrexon Corp. surged +20.06% early in the day after announcing a licensing agreement with MD Anderson alongside partner ZIOPHARM Oncology. Both Dan Loeb and David Einhorn have had positions in the biotech company since 2013.


GameStop climbed +12.66% after reporting holiday sales results – even though numbers declined. The company also said it expects strong demand for games to continue into the first quarter of 2015. Ray Dalio’s Bridgewater Associates picked up a stake in GameStop during the second quarter of last year and as of the third quarter holds 191,000 GME shares. The stock has declined -11.87% over the past six months.

Aspen Aerogels hit midday up +7.96%, though it’s still down -14.22% over the past week. Leon Cooperman invested in the energy company in Q2 2014 and has likely posted a loss on the stock, given its -33.27% six-month tumble.

Freeport-McMoRan, Tasman Metals Tumble

Freeport-McMoRan Inc. fell -12.07% early in the day. The explanation: copper prices, which fell to a nearly six-year low. As of their most recent regulatory filings, billionaire investors Jorge Lemann, Richard Chilton and Ray Dalio have stakes in the company.

Tasman Metals reached midday down -10.04% after filing its financial results. The junior resource company, a long-time George Soros holding, has declined -72.23% over the past year.

Teck Resources tumbled -9.21%, bringing its five-day loss to -19.53%. Yesterday, Deutsche Bank reduced its price target on the stock to $22.00 from $16.00. Both Richard Chilton and Ray Dalio have stakes in the firm.


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