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.
The Odey Special Situations Fund was down 0.27% for April, compared to its benchmark, the MSCI World USD Index, which was up 4.65%. For the first four months of the year, the fund is up 8.4%, while its benchmark returned 9.8%. Q1 2021 hedge fund letters, conferences and more The Odey Special Situations Fund is Read More
Chicago Bridge & Iron Soars
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.
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.