Carl Icahn Gets His Way With Family Dollar Stores, Inc. Acquisition

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Carl Icahn Gets His Way With Family Dollar Stores, Inc. Acquisition

Family Dollar Stores, Inc. (NYSE:FDO), Trulia Inc (NYSE:TRLA) and 58.com Inc (ADR) (NYSE:WUBA) are the top gainers on the market today. The losers are Enphase Energy Inc (NASDAQ:ENPH), QuickLogic Corporation (NASDAQ:QUIK) and ANI Pharmaceuticals Inc (NASDAQ:ANIP).

Family Dollar Jumps on Acquisition News

Family Dollar Stores, Inc. (NYSE:FDO) was up +24.22% midday today following the news that it will be acquired by competitor Dollar Tree (NYSE:DLTR) in a deal worth $8.5 million. This is a homerun for activist investor Carl Icahn, who took a major stake in FDO in June and subsequently started his push for its sale. John Paulson, who has a position in Family Dollar, and Richard Chilton, a Dollar Tree investor, stand to benefit from the acquisition agreement as well.

Short-Seller Spruce Point Highlights Its Latest Canadian Consumer Short: Saputo

InvestReputed short-seller Spruce Point Capital Management released its latest short report this week. The firm is shorting Canadian dairy and grocery manufacturer Saputo. Spruce Point chief Ben Axler believes the company is entering a phase of declining growth and highlights the financial stress and growing challenges he sees it facing, not only in Canada but Read More

Trulia Inc (NYSE:TRLA) climbed +12.21% today, also as the result of acquisition news. Zillow (NASDAQ:Z) is set to buy the online real estate company for $3.5 billion in stock. With a stake in both firms, Tiger Global stands to make a big buck off of the deal.

Up +8.66% midday, 58.com Inc. takes the third pot on today’s list of gainers. Another Tiger Global bet, the company is an online marketplace based out of China. Its price has climbed +41.65% YTD.

Enphase Energy Falls

Enphase Energy Inc (NASDAQ:ENPH) is today’s biggest loser midday, its price falling -10.41%. Despite today’s dip, the solar power solutions company, a Dan Loeb pick, has had a stellar year. Its price is up +63.56% in 2014.

QuickLogic Corporation (NASDAQ:QUIK) fell -6.85% midday today, just two days ahead of its anticipated results announcement. Pegged by Zacks as a potential growth stock, QuickLogic is a new Q1 acquisition for billionaire investor George Soros. However, it’s had a rough go recently, its price falling -22.47% over the past month.

ANI Pharmaceuticals Inc (NASDAQ:ANIP) dipped -6.55% midday today – a potential sign investors may be nervous about its scheduled results call next week. Farallon Capital     purchased 30,000 ANIP shares during the first quarter of this year. Its price has declined -9.57% over the last three months.

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