Paul Singer Is Betting Against These Stocks

Singer’s put option position in Oracle Corporation (NYSE:ORCL) was increased by 8% during the quarter to 610,000 underlying shares and was valued at $24.58 million. The stock price of the provider of enterprise software has dived by more than 12% year-to-date. Oracle Corporation (NYSE:ORCL) missed the top and bottom line estimates in its financial results for its fiscal fourth quarter of 2015 which ended in March. The company is engaged in a legal battle with Google Inc (NASDAQ:GOOG), having filed a lawsuit against it five years ago claiming that Google’s Android copies source code from Oracle’s Java platform. Recently the company added claims covering new versions of Android. Boykin Curry‘s Eagle Capital Management feels differently about Oracle Corporation (NYSE:ORCL) than Singer, as it raised its stake by 1% to 44.72 million shares valued at $1.93 billion during the second quarter.

Elliott Management decreased its put position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 48% during the June trimester to 261,000 underlying shares valued at $15.94 million. The stock price of the $41.34 billion provider of IT, consulting, and business process services has surged by more than 28% this year as the company managed to beat both the top and bottom line estimates in its second quarter financial results. Singer, however, believes that Cognizant Technology Solutions Corp (NASDAQ:CTSH) is not sustainably priced at these levels. Citadel Investment Group increased its holding in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 43% during the June quarter to 2.45 million shares valued at $149.93 million.

Disclosure: None