Buffett’s CBI Surges, Icahn’s CHK Tumbles

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Chicago Bridge & Iron Company (NYSE:CBI), Magnachip Semiconductor Corp. (NYSE:MX) and INC Research Holdings Inc. (NASDAQ:INCR) made big gains this Wednesday. LendingClub Corp. (NYSE:LC), Chesapeake Energy Corporation (NYSE:CHK) and Masonite International (NYSE:DOOR) posted losses.

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Chicago Bridge & Iron Soars

DX2 Capital LP: Working From Home Trend Won’t Last

New York-based long/short equity fund DX2 Capital LP added 4.8% in the month of April according to a copy of its April investor update, which ValueWalk has been able to review. Q1 2020 hedge fund letters, conferences and more Following this performance, for the year to the end of April, the fund was down -5.7% Read More

Chicago Bridge & Iron Company gained +14.21% after reporting better than expected earnings for the fourth quarter. Warren Buffett has had a position in the firm since the first quarter of 2013, and David Tepper since the second quarter of the same year. David Einhorn picked up a CBI stake in Q4 2014.

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Magnachip Semiconductor surged +10.93% today, rebounding after hitting a 52-week low earlier this week. The stock has declined more than -50% year-to-date. Marc Lasry has a stake in the firm.

INC Research rallied +10.67% after reporting fourth quarter and full year 2014 results. A new fourth quarter buy for billionaire Leon Cooperman, INCR has climbed about +28% over the past three months.

Chesapeake Energy Plunges

LendingClub Corp. plunged -13.28% this Wednesday, tumbling even though it met analysts’ expectations with its earnings report, out yesterday. The online lending marketplace, which went public in December, has caught the eye of a number of billionaire investors, including George Soros and Leon Cooperman. Chase Coleman’s Tiger Global is a LendingClub shareholder as well.

Chesapeake Energy tumbled -9.56% in the wake of its fourth quarter and full-year earnings results. The company also announced plans to cut its rig count and capital spending in 2015. Carl Icahn is a long-time CHK stakeholder and didn’t sell any of his shares in Q4, despite declining oil prices that have weighed heavily on the stock.

Masonite International fell -7.51% after missing EPS expectations with its quarterly earnings results. The designer and manufacturer of interior and exterior doors is another Tiger Global pick.

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