CarMax, Inc (NYSE:KMX), Shire PLC (ADR) (NASDAQ:SHPG) and Concert Pharmaceuticals Inc (NASDAQ:CNCE) are the market’s top midday gainers this Friday. Merrimack Pharmaceuticals Inc (NASDAQ:MACK), Tibco Software Inc. (NASDAQ:TIBX) and Adept Technology Inc (NASDAQ:ADEP).
CarMax Gets a Boost on Higher Profits
Its share price up +17.38% midday, CarMax, Inc (NYSE:KMX) got a strong start to the day. The company said its fiscal first-quarter profits jumped 16% on higher consumer traffic and pricing, exceeding analysts’ expectations. The Ray Dalio pick is up +13.06% in 2014.
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Shire PLC (ADR) (NASDAQ:SHPG) surged +16.49%. The Irish pharmaceutical company and John Paulson holding revealed today that it rejected a takeover approach from AbbVie (NYSE:ABBV) in May. Shire’s price has rallied +136.75% over the past year.
Taking the third and final spot on today’s list of midday gainers is Concert Pharmaceuticals Inc (NASDAQ:CNCE), the price of which jumped +9.09%. During the first quarter of the year, Farallon Capital initiated a position in the firm.
Merrimack Pharmaceuticals Dips as Collaboration Agreement Ends
Merrimack Pharmaceuticals Inc (NASDAQ:MACK) dipped -10.52% in the wake of yesterday’s news that it has terminated its license and collaboration agreement with Sanofi SA (ADR) (NYSE:SNY) for the development and commercialization of Merrimack’s antibody MM-121. Despite today’s loss on the market, MACK is up +28.31% this year.
Down -7.01% midday is George Soros holding Tibco Software Inc. (NASDAQ:TIBX). The company reported a sharp drop in fiscal second-quarter profits yesterday, at the same time announcing the hiring of Todd Bradley (formerly of Hewlett-Packard). Tibco’s share price has fallen -12.14% in 2014.
Last on today’s list of midday losers is Adept Technology Inc (NASDAQ:ADEP), down -5.92%. A new Q1 acquisition for Soros, the firm’s price has fallen -39.73% YTD but is still up +182.78% over the past 12 months.
