Friday’s Biggest Movers: Kite Pharma, Lloyds Banking, MGT Capital, More

SemiLEDs Plunging After Yesterday’s Heavy Gains

SemiLEDs Corporation (NASDAQ:LEDS)’s stock, which had more than doubled in value yesterday, has given back some of those gains today, falling by 8%. SemiLEDs skyrocketed on Thursday following the company’s agreement with Dr. Peter Chiou, according to which Dr. Chiou will purchase 577,000 shares of SemiLEDs’ common stock at $5.00 per share. Dr. Chiou will also take an unpaid place on the company’s Board of Directors. Only three hedge funds in our system were long SemiLEDs Corporation (NASDAQ:LEDS) at the end of the first quarter.

Resolute Energy Sells Texas Assets

Resolute Energy Corp (NYSE:REN)’s stock has risen by 14.58% today after the company reported that it is selling its Appaloosa and Mustang projects in Reeves County in West Texas for $110 million. In a statement, the Denver-based oil and gas company said an undisclosed Permian Basin midstream company will pay $50 million for the assets currently in place and $60 million in earn-out payments tied to field drilling activity through 2020. Resolute Energy will receive $32.85 million in an upfront payment, while its partner in the Mustang area will receive $17.15 million.

A total of 14 hedge funds in our database were long Resolute Energy Corp (NYSE:REN) as of the end of March. John H. Scully’s SPO Advisory Corp owns approximately 14.75 million shares of the company as of March 31.

Lloyds Banking Rises After Jobs Report

Shares of Lloyds Banking Group PLC (ADR) (NYSE:LYG) have jumped by more than 5% so far following the strong jobs report released by the Labor Department, which showed that the economy is on firm footing. This development wipes the possibility of a rate hike from the Federal Reserve off the table for the near future, helping banks amass bigger profits on mortgages and other lending activity.

Only seven funds in our system were long Lloyds Banking Group PLC (ADR) (NYSE:LYG) at the end of the first quarter, up from five funds a quarter earlier. Ken Fisher’s Fisher Asset Management owns 84.27 million shares of the company according to its latest 13F filing.

Disclosure: None