Altisource Portfolio Solutions SA (NASDAQ:ASPS), Voltari Corp (NASDAQ:VLTC) and E2open Inc. (NASDAQ:EOPN) hit midday with major gains this Friday. On the losing end are Precision Castparts Corp. (NYSE:PCP), Nimble Storage Inc. (NYSE:NMBL) and Alpha Natural Resources Inc. (NYSE:ANR).
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
Altisource Portfolio Solutions Soars
Altisource Portfolio Solutions rallied +64.34% after the company’s management team said they believe the suspension of Ocwen Financial’s mortgage license in California is unlikely. Today’s surge cut ASPS’s YTD loss to 12% – a positive development for billionaire shareholder Leon Cooperman.
Voltari Corporation surged +38.86%, putting its one-month gain at +57%. A Carl Icahn technology bet, VLTC has declined -71.08% over the past year.
E2open Inc. climbed +28.52% after announcing the adoption of a shareholder-rights plan. Yesterday, reports emerged that the software company is looking for a buyer. Billionaire Wilbur Ross has had a stake in the firm since the third quarter of 2012.
Energy Slowdown Takes a Toll on Precision Castparts
Precision Castparts Corp. tumbled -12.82% early in the day this Friday after revealing preliminary sales and profits figures for the fourth quarter of 2014 – the result of decreased demand from oil and gas customers. PCP is a bit of a billionaire favorite and can be found in the portfolios of Jorge Lemann, Warren Buffett, Ray Dalio and Richard Chilton.
Nimble Storage slipped -7.02%, bringing its five-day loss to -16.9%. The stock has struggled in the wake of its sales chief’s departure and insider transactions. Tiger Global has held onto 250,000 NMBL shares since the fourth quarter of 2013.
Alpha Natural Resources fell -5.04% today and has declined -24% over the past month. Earlier this week, ANR president Paul Vining announced his resignation. Brazilian billionaire Jorge Lemann has been building a stake in the company since the first quarter of last year.