Yahoo’s CEO Carol Bartz is fired over the phone by Yahoo’s Chairman of the Board. According to Glassdor.com, Bartz only gained 33% support rate in the third quarter. During her 30-month reign, Yahoo suffered from falling sales, lost market share to rivals and a dispute with Asian partners. The stock rose 5.42% so far today to $13.61 per share.
Here are the top 7 hedge funds gained most from this rise:
1. Ivory Capital – Curtis Macnguyen: Gained $11.1 Million
2. Perry Capital – Richard Perry: Gained $ 8.8 Million
3. D E Shaw – D.E. Shaw: Gained $4.7 Million
4. Owl Creek Asset Management – Jeffrey Altman: Gained $4.5 Million
5. Joho Capital – Robert Karr: Gained $4.2 Million
6. Diamondback Capital – Richard Schimel: Gained $4.1 Million
7. Maverick Capital – Lee Ainslie: Gained $4.1 Million
You can see the rest of the winners here. These calculations assumed that these hedge funds didn’t change their stock positions in Yahoo since the end of June. We also didn’t take into account their option positions.