Orbitz Worldwide, Inc. Sale Reports Encourage Investor Optimism

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Orbitz Worldwide, Inc. Sale Reports Encourage Investor Optimism

Aegerion Pharmaceuticals Inc. (NASDAQ:AEGR), Orbitz Worldwide and IAMGOLD Corp. (NYSE:IAG) made major gains this Tuesday. Posting noteworthy losses are Altisource Portfolio Solutions (NASDAQ:ASPS), Kite Pharma Inc. (NASDAQ:KITE) and CHC Group Ltd. (NYSE:HELI).

Orbitz Surges on Sale Reports

Gates Capital Returns 32.7% Tries To Do “Fewer Things Better”

Gates Capital Management's Excess Cash Flow (ECF) Value Funds have returned 14.5% net over the past 25 years, and in 2021, the fund manager continued to outperform. Due to an "absence of large mistakes" during the year, coupled with an "attractive environment for corporate events," the group's flagship ECF Value Fund, L.P returned 32.7% last Read More

Aegerion Pharmaceuticals surged +9.82% today, ending the day priced at $25.04. The biotech stock is a new third quarter acquisition for billionaire investor George Soros. Its price has declined -21.55% over the past three months.

Orbitz Worldwide rallied +8.62% thanks to reports the online travel agency is exploring a sale. Larry Robbins’ Glenview Capital picked up two million OWW shares in Q3 of last year and has likely made a gain on the position, given the stock has climbed +25.47% in the past three months.

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IAMGOLD Corp. ended the day up +8.14% on the heels of news yesterday that it has secured regulatory approvals to sell its Niobec mine. The mining company has had a strong run in recent weeks, its price climbing +28.19% over the past month – to the benefit of billionaire shareholders John Paulson and Ray Dalio.

Altisource Portfolio Solutions Tumbles on Analyst Downgrades

Altisource Portfolio Solutions tumbled -23.14% after Compass Point lowered its target price from $43.00 to $20.00 and Sterne Agee downgraded its rating of the stock from buy to neutral and reduced its target price to $18.00. The mortgage company, a Leon Cooperman pick, has plunged -55.28% over the past month.

Kite Pharma lost -10.28% today, ending the day priced at $74.16. It is still far from its 52-week low of $21.00 and has, in fact, gained more than +150% in the last year. George Soros picked up a stake in the firm in Q3 2014.

CHC Group hit market close down -9.87% for the day, putting its five-day loss at -24.72%. Farallon Capital has a 1.8-million-share stake in the helicopter operator.

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