FDA Approval Up in the Air, The Medicines Company is in Limbo

Updated on

Today’s midday gainers are Ctrip.com International, Ltd. (ADR) (NASDAQ:CTRP), The Goodyear Tire & Rubber Company (NASDAQ:GT) and WhiteWave Foods Co (NYSE:WWAV). The losers: Angie’s List Inc (NASDAQ:ANGI), The Medicines Company (NASDAQ:MDCO) and URS Corp (NYSE:URS).

Mobile Penetration Rates Signal Good Things Ahead for Ctrip.com

Up +13.35% is Ctrip.com International, Ltd. (ADR) (NASDAQ:CTRP), a travel services provider for hotels, airline tickets and tours in China. The company released its 2013 full-year results on February 12th, revealing 30% revenue growth over 2012. The stock price has been upgraded by Morgan Stanley, and as smartphone penetration numbers in China increase, the company is expected to expand significantly in the mobile market as well. With 50,000 shares as of September, George Soros has a 0.03% allocation in CTRP.

Following Ctrip.com is The Goodyear Tire & Rubber Company (NASDAQ:GT), which increased +10.01% after topping earnings expectations. Its EPS jumped +87% to $0.74, compared to just $0.39 a year ago (excluding special items). Revenues weren’t quite on target – the result of market changes and lower sales outside of its growth-driving business units. Both David Tepper and Ray Dalio have stakes in the manufacturer.

Last up today is John Paulson holding WhiteWave Foods Co (NYSE:WWAV), which surged +8.33% at midday trading. It is reaching a new 52-week high after reporting adjusted profits of $0.22 per share for the fourth quarter. Its results also demonstrated positive numbers across all business units, including its North American and European departments.

Medicine Company’s shares halted

As for the losers, first is Angie’s List Inc (NASDAQ:ANGI), which took a -15.96% dive. The Soros allocation posted a 15% earnings gain but still fell short in membership growth. Lowered guidance for the next quarter and the overall sentiment that the company should have done better explain today’s dip.

Coming it at a close second on this Thursday’s midday losers list is -15.26% is The Medicines Company (NASDAQ:MDCO), another Soros pick. News emerged of an FDA panel ruling against the approval of an important product for the firm, and trading was halted yesterday as a result – a prime example of the bubble effect from which several biotech companies and why.

Rounding out today’s list of losers is URS Corp (NYSE:URS), down -8.08%. A David Einhorn and Ray Dalio holding, it cut its 2013 outlook on both EPS and revenues. No further details have been provided.

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