Fraud Allegations Dog 21Vianet Group as Share Price Plummets

Auxilium Pharmaceuticals, Inc. NASDAQ: AUXL, Turquoise Hill Resources Ltd NYSE: TRQ and Gogo Inc NASDAQ: GOGO are today's top gainers midday. The losers are E2open Inc NASDAQ: EOPN, dELiA*s, Inc. NASDAQ: DLIA and 21Vianet Group Inc NASDAQ: VNET.

sign up for our free newsletter

21Vianet Group

Auxilium Pharmaceuticals Climbs Following Restructuring Announcement

Auxilium Pharmaceuticals, Inc. ( AUXL) surged +7.9% early in the day today. This week, the company announced restructuring plans, including a 30% reduction of its workforce. Billionaire investor John Paulson initiated a position in the specialty biopharmaceutical company during the first quarter of 2014 with the purchase of four million AUXL shares.

Turquoise Hill Resources Ltd ( TRQ) climbed +6.8% this Thursday. The stock entered oversold territory last Friday, and this week, the company announced a setback on one of its projects. However, its price is up +10.8% over the past five days. Ray Dalio has a small stake in this one.

Taking the third and final spot on today's list of midday gainers is Gogo Inc., up +6.65% after revealing a new partnership with T-Mobile. In George Soros' investment portfolio since the first quarter of the year, Gogo Inc ( GOGO) is down -26.34% YTD but has performed +19.98% in the past month.

E2open, dELiA*s Dive on Quarterly Data, 21Vianet suffer from fraud allegations

E2open Inc ( EOPN) reached the middle of the day down -29.66%. Yesterday, the company provided preliminary second-quarter results and adjusted its full-year revenue guidance, apparently leaving investors disappointed. The enterprise software company, a Wilbur Ross investment, is down -54.37% YTD.

dELiA*s, Inc. ( DLIA) plummeted -28.83% today on the heels of a net revenue decline of 22.4% year-over-year, announced yesterday. The Tiger Global pick had a rough go in 2014, with its price down -62.48% YTD.

21Vianet Group Inc ( VNET) fell -17.15% as it continues to suffer the fall-out of fraud allegations, reported yesterday. Trinity Research Group has accused the Chinese internet company of being a Ponzi scheme.

sign up for our free newsletter

The post Fraud Allegations Dog 21Vianet Group as Share Price Plummets appeared first on ValueWalk.

-By iBillionaire

More from Stocks

Tech Stocks Have You Baffled? Educate Yourself in Some Portfolio Diversification

Tech Stocks Have You Baffled? Educate Yourself in Some Portfolio Diversification

Alphabet Shares Rise on Earnings, Revenue Beat But Some Concerns Remain

Alphabet Shares Rise on Earnings, Revenue Beat But Some Concerns Remain

Semiconductor Stocks Get Smashed Again as Earnings Weakness Continues
Dow and Nasdaq Finish Lower as 10-Year Treasury Yield Hovers Near 3%

Dow and Nasdaq Finish Lower as 10-Year Treasury Yield Hovers Near 3%

Video: Jim Cramer on Trade Tariffs, Rising Rates, Kimberly Clark and Hasbro

Video: Jim Cramer on Trade Tariffs, Rising Rates, Kimberly Clark and Hasbro