Voltari Corporation (NASDAQ:VLTC), Tasman Metals Ltd. (NYSEMKT:TAS) and Vivint Solar Inc. (NYSE:VSLR) got a strong start in Monday trading. Caesars Entertainment, International Tower Hill Mines Ltd. (NYSEMKT:THM) and Royal Caribbean Cruises Ltd. (NYSE:RCL) took tumbles early in the day.
Dan Loeb’s Third Point Re To Merge After Years Of Losses
Last week, Third Point Re insurance, which is backed by US hedge-fund manager Daniel Loeb, said it would merge with Sirius International Insurance Group in a cash-and-stock deal worth around $788 million. The deal comes at a pivotal time for both companies. Third Point Re To Merge After Years Of Losses Early last year, reports Read More
Voltari Corporation Keeps Climbing
Voltari Corporation surged +9.05% this morning and continues to ride its Carl Icahn wave. The billionaire disclosed an increased stake in the company in late March, and the stock has soared since. It has climbed more than +1000% over the past month.
Tasman Metals rallied +6.57% early in the day and is up more than +45% in 2015. As per his latest 13F filing, billionaire George Soros holds 1.67 million TAS shares, giving him a 2.52% stake in the company.
Vivint Solar climbed +6.03% and is up +55% for 2015. Leon Cooperman owns just under a half a million shares of the company, which provides distributed solar energy to residential consumers.
Caesars Entertainment Tumbles on Extension Request
Caesars Entertainment tumbled -14.27% after the company’s bankrupt operating division requested more time to file its reorganization plan to work its way out of an estimated $18 billion in debt. It has been unable to reach an agreement with ad hoc committee bank lenders. Despite its troubles, billionaires Leon Cooperman, George Soros and John Paulson have stakes in the company as of their most recent 13F filings, corresponding to the fourth quarter.
International Tower Hill Mines dipped -10.78% this morning and is down more than -25% YTD. John Paulson is a long-time THM shareholder and recently upped his position to one of 32.7 million shares.
Royal Caribbean Cruises Ltd. fell -7.78% after cutting its outlook for 2015 and issuing second-quarter guidance well below expectations. The cruise ship company has taken hits from a strong U.S. dollar and higher fuel prices. Billionaires Julian Robertson and Ray Dalio have small positions in RCL.