Delta Air Lines (DAL), Alibaba Group Holding (BABA), Yahoo! (YHOO): Tip Hill Hunts For Value and Catalysts

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Tip Hill’s Yahoo! Inc. (NASDAQ:YHOO)’ holding amounted to 184,000 shares valued at $8.18 million. It represented 6.48% of the fund’s portfolio value and was the third largest equity holding. Yahoo! Inc. (NASDAQ:YHOO) not only posted disappointing results for the first quarter, but provided a weak guidance for the second quarter as well. The $0.15 EPS for the quarter were $0.03 below the estimates and revenues of $1.04 billion came in $20 million lighter than expected. Display ad revenue fell 7% to $381 million and search revenue fell 3% to $432 million for the quarter as compared to the same quarter last year. According to some analysts, Yahoo! Inc. (NASDAQ:YHOO) is undergoing a transformation to increase the contribution of its core business in the company’s top line and this will take at least a few more quarters. D E Shaw, founded by David Shaw, held about 13.54 million shares of Yahoo! valued at $683.75 million at the end of the fourth quarter.

Another newly initiated stake during the first quarter was in JPMorgan Chase & Co. (NYSE:JPM), with it consisting of 120,000 shares valued at $7.27 million. The investment bank looks to be in better shape following its first quarter financial results. Return-on-equity rose to 14% from 11% during the same quarter last year. Besides uncertain legal and regulatory costs the bank is also facing competition from payment start-ups like Square and LendingClub Corp (NYSE:LC). Another fund that is betting on JPMorgan Chase & Co. (NYSE:JPM)’s success is Ken Fisher’s Fisher Asset Management.

Micron Technology, Inc. (NASDAQ:MU) has slid by 16.41% year-to-date despite delivering better than expected financial results for its second fiscal quarter, the reason being the weak guidance provided by the company for the next quarter. The 3D NAND technology that Micron Technology, Inc. (NASDAQ:MU) has developed with Intel Corporation (NASDAQ:INTC) could prove to be just the catalyst that the company needs to stage a comeback later this year. Tip Hill increased its holding in Micron by 12% during the first quarter to 250,000 shares valued at $6.78 million. David Einhorn’s Greenlight Capital held a huge stake in Micron Technology, Inc. (NASDAQ:MU) amounting to 31.26 million shares valued at $1.09 billion at the end of last year.

Disclosure: None

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