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Kamada Plunges Following Missed Marks in Trial

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UTi Worldwide Inc. (NASDAQ:UTIW), Flexion Therapeutics Inc (NASDAQ:FLXN) and PVH Corp (NYSE:PVH) are today’s top-gaining billionaire stock picks midday. On the losing end are Kamada Ltd (NASDAQ:KMDA), Ciena Corporation (NYSE:CIEN) and Coronado Biosciences Inc (NASDAQ:CNDO).

UTi Worldwide Climbs Despite Disappointing on Results

UTi Worldwide Inc. (NASDAQ:UTIW) reached midday posting a +14.33% gain for the day. This morning, the company reported fiscal 2015 second quarter results, including a -3.4% decrease in revenues and net loss of $16.3 million. Although it missed analysts’ expectations, investors were apparently largely unfazed by the news. As of the second quarter of this year, Tiger Global holds 5.13 million UTIW shares. The stock is down -40.66% year-to-date.

The share price of Flexion Therapeutics Inc (NASDAQ:FLXN) climbed +10.77% this Thursday. Yesterday, the specialty pharmaceutical company announced plans to initiated a Phase 3 clinical trial for one of its products in late 2014. Billionaire investor George Soros initiated a position in Flexion during the first quarter of this year and maintained his 30,000 assets in Q2.


Also having a strong start to the day is PVH Corp (NYSE:PVH), up +10.22% midday. The apparel and footwear maker released earnings data Wednesday, beating analysts’ EPS estimate by $0.09. PVH is a long-time Leon Cooperman pick, as the billionaire has had a stake in the company since the fourth quarter of 2011. The company’s share price has climbed +19.18% over the past month.

Kamada Plummets Following Failed Trial

The asset price of Kamada Ltd (NASDAQ:KMDA) plummeted -19.69% this morning. The Israeli biotech company confirmed today that its lead candidate failed to meet major endpoints in a late-stage trial. The John Paulson holding has had a rough go on the stock market in 2014, posting a loss of -61.48% YTD.

Ciena Corporation (NYSE:CIEN) dipped -7.92% on the heels of its quarterly results report. While it beat Wall Street expectations on EPS and revenue for Q3, it projected lower numbers for Q4. Ciena is currently trading at $18.83, near its 52-week low of $18.00. Its price has declined -21.23% YTD.

Taking the last spot on today’s list of midday losers is Coronado Biosciences Inc (NASDAQ:CNDO), down -6.83%. George Soros initiated a position in the biopharmaceutical firm during the second quarter of this year with the purchase of 29,000 shares. The stock has climbed +13.25% over the past three months and, despite today’s loss, is still up +23.68% over the last 30 days.

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