Rackspace Bounces, Making Dan Loeb $34 Million in the Process

Coronado Biosciences Inc NASDAQ: CNDO, Rackspace Hosting, Inc. NYSE: RAX and AuRico Gold Inc NYSE: AUQ are making notable climbs on the stock market this Tuesday. Town Sports International Holdings, Inc. NASDAQ: CLUB, American Apparel Inc NYSEMKT: APP and Radius Health Inc NASDAQ: RDUS, on the other hand, are tumbling.

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Rackspace

Rackspace Bounces on Microsoft Announcement, Q3 Results

Coronado Biosciences Inc ( CNDO) got a +14.47% early in the day. Last week, the company raised $3.5 million through the sale of restricted common stock, and news has also emerged of some insider buying. The new Q2 George Soros acquisition has rallied in recent weeks, and its price has climbed +16.43% over the past three months.

Rackspace Hosting, Inc. ( RAX) climbed +13.1% this Tuesday after announcing yesterday that it will join the Microsoft Corporation Cloud OS Network and releasing Q3 results. Billionaire investor Dan Loeb initiated a 7.25-million-share position in Rackspace in the second quarter of the year, and George Soros picked up 265,000 shares. Ray Dalio, on the other hand, reduced his position from 87,000 shares in Q1 to 17,000 in Q2.

AuRico Gold Inc ( AUQ) jumped +10.59% after announcing an agreement to invest in Carlisle Goldfields. The Canada-based gold producer has been in George Soros' portfolio since the first quarter of the year and has gained +11.56% over the past five days.

American Apparel Plummets

Town Sports International Holdings, Inc. ( CLUB) tumbled -9.9% - the result of a disappointing earnings report and poor outlook for the quarter ahead. The fitness center operator is a long-time Farallon Capital pick, and it's a new second quarter buy for George Soros as well.

American Apparel Inc NYSEMKT:APP plummeted -8.99% after announcing a widened loss in the third quarter as sales declined and expenses related to an internal investigation of its founder Dov Charney took a toll. The apparel retailer, yet another new Q2 buy for Soros, has declined -43.5% YTD.

Radius Health Inc ( RDUS) dove -8.6% today despite beating expectations with its results report. Farallon Capital purchased 1.8 million RDUS shares in the second quarter of the year and despite today's dip have likely posted a gain on this one, as the stock has climbed +61.39% over the past three months and +154.68% in the last six.

The post Rackspace Bounces, Making Dan Loeb $34 Million in the Process appeared first on ValueWalk.

-By iBillionaire

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