Home Technology Carl Icahn Activist Project Hertz Takes a Tumble

Carl Icahn Activist Project Hertz Takes a Tumble

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NII Holdings Inc (OTCMKTS:NIHDQ), Uranium Energy Corp. (NYSEMKT:UEC) and Pandora Media Inc (NYSE:P) reached the middle of the day with noteworthy gains this Friday. In the red today are Abengoa Yield PLC (NASDAQ:ABY), Hertz Global Holdings, Inc. (NYSE:HTZ) and Ocwen Financial Corp (NYSE:OCN).

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Insider Buy Spurs Pandora Push

NII Holdings Inc (OTCMKTS:NIHDQ) jumped +34.33% early in the day, bouncing back a bit from a poor results report released early in the week. The company filed for bankruptcy reorganization in September and has had a dismal year, its price falling -96.91% in 2014. George Soros has likely taken a loss on this one.

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Uranium Energy Corp. (NYSEMKT:UEC) got a +13.38% boost today, putting its one-month gain at +67.92%. A new second quarter pick for billionaire investor George Soros, UEC is an exploration-stage company based in the United States.

Pandora Media Inc (NYSE:P) climbed +12.57% early in the day this Friday on news of an insider purchase of the company’s stock. It hasn’t been a banner year for the internet radio company, which has declined -22.56% YTD, but in recent days, it’s started to turn around. Julian Robertson picked up a stake in Pandora in Q2.

Hertz Takes a Tumble

Abengoa Yield PLC (NASDAQ:ABY) tumbled -14.82% today as a result of rising concerns over its accounting. ABY has declined -19.71% over the past five days and -29.69% since going public in June, meaning billionaire Leon Cooperman is likely still waiting for a return on this one.

Hertz Global Holdings, Inc. (NYSE:HTZ) plunged -11.61% early in the day after telling investors that it will need to restate its financial results for both 2012 and 2013. The car rental giant, one of Carl Icahn’s latest activist projects, is a favorite among a number of billionaire investors, including Dan Loeb, George Soros and Chase Coleman of Tiger Global. HTZ has fallen -32.24% over the past three months.

Also closing the week on a low note is Ocwen Financial Corp (NYSE:OCN), which dipped -8.53% after calling off a $39 billion residential mortgage servicing rights deal with Wells Fargo. The Leon Cooperman pick is down -62.78% YTD.

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