Some of Soros’ Stocks Surged Today, While Others Soured

Updated on

OncoGenex Pharmaceuticals Inc (NASDAQ:OGXI), MCG Capital Corp (NASDAQ:MCGC) and Doral Financial Corp. (NYSE:DRL) made noteworthy gains on the market this Wednesday. In the red today are Cal Dive International, Inc. (NYSE:DVR), InvenSense Inc (NYSE:INVN) and American Realty Capital Properties Inc (NASDAQ:ARCP). All are relatively new George Soros stocks.

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OncoGenex Pharmaceuticals Inc (NASDAQ:OGXI) climbed +19.1% today. A new second quarter acquisition for billionaire investor George Soros, OGXI is a biopharmaceutical company focused on the development and commercialization of cancer therapies. Despite today’s gain, OGXI is down -71.42% YTD.


MCG Capital Corp (NASDAQ:MCGC) got an +18.75% boost today thanks to its third quarter results report, including $1.3 million in net income. Another new Q2 buy for Soros, MCGC has declined -10.89% over the past three months.

The share price of Doral Financial Corporation, another Q2 Soros pick, jumped +15.89% this Wednesday. The bank holding company has climbed +9.37% over the past three months, though it is still down -62.01% this year.

ARCP Tumbles as Accounting Comes into Question

Cal Dive International, Inc. (NYSE:DVR) plummeted -37.05% today, a week ahead of its third quarter results release. The marine contractor has had a tough go in 2014, its price falling -92.89% year-to-date. George Soros picked up 54,000 DVR shares in Q2.

InvenSense Inc (NYSE:INVN) tumbled -25% on the heels of its earnings release and quarter guidance, both of which failed to meet analysts’ expectations. A provider of intelligent motion processing solutions, INVN has declined -16.6% over the past year. Soros initiated a position in the company in the first quarter of the year.

Also having a rough Wednesday is American Realty Capital Properties Inc (NASDAQ:ARCP), the share price of which declined -22.7%. News emerged today that two top executives have resigned as doubts arise regarding the validity of its financial statements. The SEC will open an inquiry into the company’s accounting. Soros purchased 580,000 ARCP shares during the second quarter of the year and will likely be paying close attention to how this plays out.


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