Laredo Petroleum Inc. (NYSE:LPI), Denbury Resources Inc. (NYSE:DNR) and Sanchez Energy Corp. (NYSE:SN) are approaching market close with big gains this Monday. Starting off the week in the red are Applied Micro Circuits Corporation (NASDAQ:AMCC), Bitauto Holdings (NYSE:BITA) and Unwired Planet Inc. (NASDAQ:UPIP).
Exclusive: York Capital to wind down European funds, spin out Asian funds
York Capital Management has decided to focus on longer-duration assets like private equity, private debt and collateralized loan obligations. The firm also plans to wind down its European hedge funds and spin out its Asian fund. Q3 2020 hedge fund letters, conferences and more York announces structural and operational changes York Chairman and CEO Jamie Read More
Rallying Oil Prices Spur Surge for Laredo, Denbury
Laredo Petroleum surged +17.84% today thanks to rallying oil prices. The independent energy company, one of Richard Chilton’s holdings, has declined -54.02% over the past year.
Denbury Resources climbed +11.67%, putting its one-week gain at +14.12%. The stock’s surge is also the result of increasing oil prices. Billionaire Leon Cooperman has held a stake in the firm since early 2010, and Ray Dalio has a DNR position as well.
Sanchez Energy surged +11.04% after providing an update for its fourth quarter and full year 2014 operations and year-end 2014 reserves. An independent exploration and production company, Sanchez has been among George Soros’ holdings since the second quarter of last year. The stock’s price has fallen -58.29% over the past six months.
Applied Micro Circuits Corporation tumbled -9.33%, putting its YTD performance at -27.38%. Zacks reaffirmed its neutral rating on the stock just last week. Julian Robertson has had a stake in the firm since the fourth quarter of 2013.
Bitauto Holdings fell -6.42% this Monday, putting its one-month loss at -25.11%. The China-based content and marketing services provider is one of Tiger Global’s major holdings, as the firm holds more than 6.5 million BITA shares.
Unwired Planet dipped -5.76% and is trading about $0.13 away from its 52-week low of $0.80. The intellectual property and technology licensing company has been in George Soros’ portfolio since the second quarter of 2012.