Voltari Corp. (NASDAQ:VLTC), Civeo Corp. (NYSE:CVEO) and Twitter started trading today with big gains. Whiting Petroleum Corp. (NYSE:WLL), Tasman Metals Ltd. (NYSEMKT:TAS) and Zafgen Inc. (NASDAQ:ZFGN) are taking tumbles.
Voltari Corp. gained +7.7% in early trading this Tuesday and is up more than +35% for the year. Carl Icahn owns 14.51% of the company.
[drizzle]Civeo Corp. surged +4.78%, though it’s still trading dangerously close to its 52-week low of $2.25 and light years away from its high of $28.40. As of his most recent 13F filing, David Einhorn holds 10.66 million CVEO shares.
Twitter was up +4.54% about half an hour after market open. Yesterday, the social media giant announced a partnership with Foursquare to allow users to include their locations in Tweets. Chase Coleman’s Tiger Global has a small stake in Twitter, the share price of which has gained +40% in 2015.
Whiting Petroleum Tumbles as Search for a Buyer Looks Doubtful
Whiting Petroleum plunged -20.23% this morning in the wake of yesterday’s announcement of plans to offer 35 million shares as well as $1.75 billion of convertible senior notes – a move that has raised concerns regarding the company’s ability to find a buyer. The share price of the oil and gas company has declined more than -50% over the past year, weighing heavily on the portfolio of billionaire John Paulson, who as of the end of Q4 holds 13.45 million WLL shares.
Biotech stock and Farallon Capital holding Zafgen Inc. fell -6.87%. Despite today’s early-morning decline, ZFGN is up +36% in 2015.