Urban Outfitters Inc. (NASDAQ:URBN), Voltari Corp. (NASDAQ:VLTC) and Pinnacle Entertainment Inc. (NYSE:PNK) are approaching market close with big gains this Tuesday. Key Energy Services Inc. (NYSE:KEG), Scorpio Bulkers Inc. (NYSE:SALT) and Teekay Tankers Ltd. (NYSE:TNK) are taking tumbles.
The following is our rough coverage of the 2021 Sohn Investment Conference, which is being held virtually and features Brad Gerstner, Bill Gurley, Octahedron's Ram Parameswaran, Glenernie's Andrew Nunneley, and Lux's Josh Wolfe. Q1 2021 hedge fund letters, conferences and more Keep checking back as we will be updating this post as the conference goes Read More
Urban Outfitters Rallies Again
Urban Outfitters Inc. surged +8.71% and continues to climb in the wake of its fourth quarter earnings report. The apparel retailer seems to be in the midst of a turnaround and is up nearly +25% year-to-date. Ray Dalio’s Bridgewater Associates has a stake in the firm.
Carl Icahn holding Voltari Corp. climbed +5.97%, putting its YTD gain at almost 35%. Despite its recent rally, the stock is down -75% over the past year.
Pinnacle Entertainment gained +5.98% and is up over +25% over the past five days, thanks in large part to a $4.1 billion real estate merger offer from GLPI. Billionaire Marc Lasry is getting a boost off of this one.
Key Energy Services Tumbles on Rating Downgrade
Key Energy Services Inc. tumbled -8.99% after news broke that Zacks has cut its rating on the stock from neutral to underperform. The stock is currently trading less than a dollar away from its 52-week low of $1.00. George Soros has a small stake in the firm.
Scorpio Bulkers fell -6.99%, though it is still up about +5% for the year. Last Wednesday, the company reported a $72 million loss in Q4. On Thursday, Stifel Nicolaus reaffirmed its buy rating on the stock. SALT has a 3% allocation in Marc Lasry’s portfolio.
Teekay Tankers Ltd. dipped -6.01% today, largely the result of high trading volume. Leon Cooperman has a position in the company.