Sprint Plunges After Dropping T-Mobile Bid

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Enphase Energy Inc. (NASDAQ:ENPH), WPX Energy Inc. (NYSE:WPX) and Uniqure NV (NASDAQ:QURE) are this Wednesday’s top market gainers. The losers are Sprint Corporation (NYSE:S), Walgreen Company (NYSE:WAG) and Cognizant Technology Solutions Corporation (NASDAQ:CTSH).

Enphase Energy Soars on Earnings Report

Enphase Energy Inc. climbed +14.23% following its second-quarter earnings report yesterday, revealing $82 million in quarterly sales. The solar company is one of Dan Loeb’s energy bets, as the billionaire initiated his position of 7.45 million assets in the company during the second quarter of 2012.

WPX Energy ended the day with a +10.64% gain thanks to a surge in second quarter oil production and an improved full-year oil production guidance. In the investment portfolio of billionaire Leon Cooperman across several quarters, WPX  is up +12.76% year-to-date.

The share price of Uniqure NV surged +9.09% today, though its asset price has still declined -26.9% in value YTD. Farallon Capital initiated a position in the Dutch pharmaceutical company during the first quarter of the year.

Big Names Sprint, Walgreens Take a Dive

Sprint plunged -18.96% today in the wake of two major pieces of news. The telecom giant is dropping its bid for rival wireless carrier T-Mobile US and is also ousting its CEO, Dan Hesse. The announcements clearly rattled investors, among them billionaires Leon Cooperman and John Paulson. Sprint is down -45.12% YTD.

The share price of Walgreen Company fell -14.34% after the announcement of a $15.3 billion plan to complete the acquisition of European Alliance Boots and the decision to avoid shifting its headquarters overseas. The drugstore chain is in the investment portfolios of both George Soros and Richard Chilton. Despite today’s loss, it has gained +3.08% in 2014.

Cognizant Technology Solutions also took a big hit today, its price falling -12.63% after lowering its forecast for the rest of the year. Billionaire hedge fund manager Steve Mandel increased his stake in the IT company to 28.7 million shares in Q1 – a sign he’s still bullish on this one.

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