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Most Sold By Activist Hedge Funds

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Follow this list to discover and track the stocks that were sold the most by activist hedge funds in the last quarter.

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Bloomberg
Bluebird, Celgene Cancer Therapy Gets Boost From New Study
(Bloomberg) -- An experimental therapy from Bluebird Bio Inc. and Bristol-Myers Squibb Co. benefited more than 80% of patients nearing death from an advanced form of blood cancer in a pivotal study, clearing a hurdle in its path to U.S. approval.A single high-dose infusion of the personalized medicine known as bb2121 generated a response in 44 of 54 patients with multiple myeloma, including 19 who had a complete response, the companies said in a statement Friday. Patients went a median of 11.3 months before the cancer progressed, topping expectations that it needed to stop the disease for at least six months to gain approval from the U.S. Food and Drug Administration.Bluebird shares briefly jumped in late trading on Friday before surrendering most of their gains. The recently-issued CVR given in connection with the closing of Bristol-Myers’ deal with Celgene, known by the ticker BMY-R, rose 8.3%.The companies divulged the findings on the eve of the American Society of Hematology’s annual meeting in Orlando, Florida, where GlaxoSmithKline Plc., Regeneron Pharmaceuticals Inc. and Bristol’s own Celgene unit will present data on competing approaches. Cambridge, Massachusetts-based Bluebird and New York-based Bristol-Myers are scheduled to give an update on their next-generation therapy, bb21217, on Monday, while hotly anticipated results from competitor Johnson & Johnson’s Nanjing Legend Biotech-partnered therapy will take the spotlight that morning.The depth and the durability of the data “puts us in very good stead around any of the antibodies as well as other gene therapies,” Bluebird Chief Executive Officer Nick Leschly said. “We feel quite good about it, and that’s why we’re sprinting toward submission and driving toward earlier lines of therapy.”Positive results from the study, dubbed KarMMa, could lead to the first approval of the approach called CAR-T for patients with multiple myeloma, a deadly form of cancer found in white blood cells, wrote Raju Prasad, an analyst at William Blair, in a note. A response rate greater than 80% that can hold off the disease for at least 11 months would be well-received by doctors who might otherwise be wary of potential high costs and an aggressive approach, said Yaron Werber, an analyst at Cowen & Co.The approach known as CAR-T is already approved for a hard-to-treat form of pediatric leukemia and diffuse large B cell lymphoma, both blood cancers that are much less common than the multiple myeloma, which is diagnosed in about 30,000 Americans each year. Bluebird and Bristol’s therapy involves removing infection-fighting T cells from the blood, altering them to recognize a protein known as BCMA that is found in multiple myeloma cells, then putting them back into the patient to kill the cancer.(Updates with stock-price movement in third paragraph)\--With assistance from Tatiana Darie.To contact the reporters on this story: Bailey Lipschultz in New York at blipschultz@bloomberg.net;Michelle Fay Cortez in Minneapolis at mcortez@bloomberg.netTo contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Mark Schoifet, Timothy AnnettFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Zacks
2019 was the Year of the "Chicken Wars"
2019 has been a big year for fast-food chicken, with the "chicken wars" turning from mild to spicy. Will you be trying any of the fried chicken sandwich options?
FX Empire
GBP/USD Weekly Price Forecast – British Pound Finally Breaks Out
The British pound broke out during the week, breaking above the crucial 1.30 level kicking off a bullish flag. This of course has been helped by a little bit more certainty with the UK elections.
FX Empire
GBP/USD Price Forecast – All Await The Elections
The British pound has pulled back just a bit on Friday, as the jobs number in the United States was better than anticipated. That being said though, it doesn’t really matter as this pair tends to be focusing on Brexit more than anything else right now.
Simply Wall St.
Are Starbucks Corporation (NASDAQ:SBUX) Investors Paying Above The Intrinsic Value?
How far off is Starbucks Corporation (NASDAQ:SBUX) from its intrinsic value? Using the most recent financial data...
Zacks
The Zacks Analyst Blog Highlights: ExxonMobil, Starbucks, Diageo, Fidelity National Information Services and Colgate-Palmolive
The Zacks Analyst Blog Highlights: ExxonMobil, Starbucks, Diageo, Fidelity National Information Services and Colgate-Palmolive
Zacks
Zacks Value Trader Highlights: XOP, CNX Resources, Matador Resources, Pioneer Natural Resources and Diamondback Energy
Zacks Value Trader Highlights: XOP, CNX Resources, Matador Resources, Pioneer Natural Resources and Diamondback Energy
Zacks
5 Dividend Stocks That Possess Strong Growth Potential
Although the dividend growth stocks do not necessarily have the highest yields, they have outperformed for a longer period than the broader stock market or any other dividend-paying stock.
Zacks
5 Blue Chip Stocks to Buy on the Dip for a Stronger Portfolio
As stock market volatility continues, the blue-chip index is showing fluctuation. However, a closer look into the index reveals that not all stocks are erratic.
Investing.com
Forex: Dollar Surges Against Euro on Stronger U.S. Jobs Report
Investing.com – The U.S. dollar rallied on Friday as stronger-than-expected U.S. jobs gains last month reaffirmed beliefs that the economy remained on solid footing.
Yahoo Finance UK
What to Watch: Eddie Stobart future, Aramco's huge IPO, UK house prices
A daily overview of the top business, market, and economic stories to watch in the UK, Europe, and abroad.
FX Empire
GBP/USD Daily Forecast – Sterling Eases Lower After a 5 Consecutive Day Rally
The British pound has come off its highs against the dollar ahead of today’s jobs report but ultimately the jobs data and speculation ahead of the UK election will drive the pair.
Yahoo Finance UK
Labour says HSBC's flat 40% overdraft fee is 'not fair'
Labour has previously vowed to cap overdraft fees, but an expert has warned that could see banks stop offering overdrafts altogether.
Bloomberg
SoftBank to Have ‘Last Laugh’ on WeWork Deal, Bernstein Says
(Bloomberg) -- SoftBank Group Corp.’s massive investment in WeWork triggered a multi-billion-dollar writedown and a rare apology from founder Masayoshi Son. But one analyst argues the deal is likely to work in the end and SoftBank will have the “last laugh.”Chris Lane of Sanford C. Bernstein says WeWork can have a bright future if SoftBank overhauls the business plan and more carefully focuses on the evolution of the corporate office market. He likens WeWork’s business model to Starbucks’s, where branding, consistency and global scale give it an advantage over the competition.Lane argues WeWork can achieve profitability if it pulls back on extraneous areas and calms a frenetic pace of expansion to focus on filling up existing space. That will allow it to grab an estimated 8% of an emergent market for pre-fitted offices for corporate clients, almost like a white-label tech gadget or home appliance.“We think investors should think of the basic business as being similar to Starbucks,” Lane wrote in a 21-page research report. “While profitable, the scale of profits that can be generated from a single site is small. Starbucks as a corporation only makes sense if you plan to open thousands of outlets.”It’s a contrarian take on a WeWork deal that has been widely viewed as a fiasco. After SoftBank invested in the co-working startup, its planned initial public offering fell apart as investors balked at its enormous losses and conflicted governance. Son conceded “there was a problem with my own judgment” as he announced the writedown last month. SoftBank has put about $14 billion into a startup that’s now valued at less than $8 billion.The Japanese company’s shares are down about 30% from their peak in April. They were little changed on Friday.After discussions with management, Lane explains they see an opportunity for WeWork to move beyond the niche of providing space for entrepreneurs to offering flexible real estate for a broad range of companies. He calls this “managed space as a service” and compares it to “software as a service,” which is the way many companies now buy from Microsoft Corp. and Salesforce.com Inc. WeWork, Lane says, sees the potential to make $500 per month on memberships as “an on-going annuity,” far more than software generates.SoftBank named Marcelo Claure, the former chief executive at Sprint Corp., executive chairman of WeWork and put him in charge of the turnaround effort. Under his leadership, Lane says the company will be able to focus on profitability by stopping any incremental expansion, filling its existing space and slashing overhead by getting rid of expansion staff and non-core businesses. WeWork’s ability to gather data about office-use and optimize layouts -- while not entirely substantiated -- could prove disruptive to the industry, he added.He estimates that WeWork’s revenue will rise from $720 million a quarter to about $1.5 billion if it can push occupancy to 90% on its current portfolio. Once profitable, WeWork will once again try to go public, perhaps in 2023, and then raise additional capital to resume expansion, albeit more slowly than before.With a discounted cash flow model, Lane projects WeWork would have an enterprise value of $28.8 billion in 2025. That would make SoftBank’s 80% stake worth about $19.1 billion, roughly 40% more than the estimated $13.8 billion the company and its Vision Fund have invested.“We believe WeWork’s valuation is justified if you believe in the long-term, ‘office space’ will be a managed service outsourced to professionals – and that WeWork will be the leading global player,” Lane wrote. “Despite the huge embarrassment WeWork has been for SoftBank this year, we suspect SoftBank will have the last laugh when they bring the company back to market in a few years – bigger and profitable.”(Updates with shares in the sixth paragraph.)To contact the reporters on this story: Pavel Alpeyev in Tokyo at palpeyev@bloomberg.net;Takahiko Hyuga in Tokyo at thyuga@bloomberg.netTo contact the editors responsible for this story: Edwin Chan at echan273@bloomberg.net, Peter ElstromFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
FX Empire
GBP/USD – Pound Pauses After Impressive Rally, U.S. Job Data Looms
The British pound has taken a breather on Friday, but is up almost 2 percent on the week. The pound has gained ground as the Conservatives continue to hold a lead in election polls. The Aussie and NZ dollar have also posted sharp gains against the U.S dollar this week.
Yahoo Finance UK
Saudi Aramco stock market listing to be the biggest in history
The state-owned Saudi oil company would leapfrog Apple to become the highest valued in the world.
Yahoo Finance UK
UK Honda workers split over Brexit as factory closure hangs over election
Yahoo Finance UK reports from South Swindon, where Conservatives will hope their narrow majority survives a local factory closure and a tight race with Labour.
Yahoo Finance UK
What a hung parliament could mean for markets
Despite a lead for the Tories in the polls, investors and analysts are still worrying about the possibility of a hung parliament after the December election.
FX Empire
Economic Data Puts the Greenback in Focus as Geopolitical Risk Lingers
Nonfarm payrolls from the U.S will influence later in the day. The UK election opinion polls and trade news also need a watchful eye.
Zacks
Top Stock Reports for ExxonMobil, Starbucks & Diageo
Top Stock Reports for ExxonMobil, Starbucks & Diageo
Simply Wall St.
Is There An Opportunity With Lowe's Companies, Inc.'s (NYSE:LOW) 26% Undervaluation?
How far off is Lowe's Companies, Inc. (NYSE:LOW) from its intrinsic value? Using the most recent financial data, we'll...
FX Empire
GBP/USD Price Forecast – British Pound Continues To Grind Higher
The British pound rallied again during the trading session on Thursday, breaking above the 1.31 level yet again. At this point, there is a lot of bullish pressure underneath and it should be obvious that we are broken out.
Zacks
Why Is Diamondback (FANG) Up 4.4% Since Last Earnings Report?
Diamondback (FANG) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Zacks
Energy Stocks: Values or Traps?
Many of the exploration and production stocks are hitting new multi-year lows. Are they cheap or is this another false bottom?
FX Empire
The Year End: Brexit and Trade Wars in the Arena Again
The year is ending but Brexit and trade wars continue being the hottest topics. In this article, we will consider events that will determine the market sentiment of the last month of the year.

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