Harman International Industries Inc. (NYSE:HAR), Kate Spade & Co. (NYSE:KATE) and JetBlue Airways Corporation (NASDAQ:JBLU) hit midday with noteworthy gains this Thursday. iDreamSky Technology Ltd. (NASDAQ:DSKY), Qualcomm (NASDAQ:QCOM) and Triumph Group Inc. (NYSE:TGI), on the other hand, took tumbles.
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Harman International Industries surged +17.91% after beating Q2 earnings expectations. A developer, manufacturer and marketer of audio products, lighting solutions and electronic systems, Harman has been in George Soros’ portfolio since the third quarter of 2013. Billionaire Julian Robertson joined Soros as a shareholder during the third quarter of 2014.
Kate Spade & Co. gained +8.84% early in the day after announcing plans to close Kate Spade Saturday and Jack Spade stores in order to focus on its flagship brand. The apparel company is another recent buy for Julian Robertson, who purchased 61,000 KATE shares in Q3 2014.
JetBlue Airways hit midday up +8.09% after reporting an 87% jump in quarterly profit. George Soros picked up a stake in the airline in the first quarter of last year and had gradually reduced his position in subsequent quarters. JetBlue’s share price has nearly doubled over the past year.
Positive Earnings Outweighed by Dim Outlook on Qualcomm
iDreamSky Technology Ltd. tumbled -11.24%, putting its one-week loss at about -25%. In his most recent public holdings disclosure, George Soros reported a position in the China-based mobile game publishing platform, as did hedge fund Tiger Global.
Qualcomm plunged -11.23% on the heels of news that a major customer has dropped its Snapdragon 810 chip. The company beat analysts’ expectations for its fiscal first quarter results, but a dim outlook has dragged it down. Ray Dalio’s Bridgewater Associates has a position in Qualcomm.
Triumph Group fell -10.47% this morning after reporting a $39.8 million quarterly loss. As of his latest 13F filing, David Tepper holds 931,000 TGI shares. The stock has declined nearly -18% year-to-date.