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Morning Brief: Paulson Favorite Allergan Continues Its Slide
The pharmaceutical stock, the largest long holding of Paulson & Co., is now in negative territory for the year.
Allergan, the largest long holding at John Paulson’sPaulson & Company, continued its downward slide, falling 3.4 percent Thursday. The stock is now down 3.5 percent for the year. Paulson’s main fund suffered a sharp loss in August, and is down by double digits for the year.
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The Securities and Exchange CommissionrevealedWednesday evening that its electronic database of company filings was hacked last year, resulting in fraudulent filings. In a statement, Chairman Jay Clayton said the security breach, which was discovered by the SEC last year, did not expose personal information or jeopardize SEC operations. Last month, however, Clayton said the regulator learned that the cyber attack “may have provided the basis for illicit gain through trading,” with the hackers allegedly uploading fake SEC filings to EDGAR in order to profit from the resulting market movements. “Cybersecurity is critical to the operations of our markets and the risks are significant, and, in many cases, systemic,” he said. “We must be vigilant.”
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Citadel Securities has added a new head of swaps trading as Ken Griffin’s firm continues to grow its securities trading arm, according to aReutersreport Thursday. Daniel Gottlander, formerly a vice president in Citigroup’s North American rates trading group, has been hired for the newly created role, starting in October. According to Reuters, Gottlander will support the expansion of Citadel Securities’ fixed income efforts, including its voice business for customized swaps and electronic business for benchmark U.S. dollar and euro interest rate swaps.
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Paul Singer’s Elliot Management Corporationdisclosedearlier this week that it owns 9.44 million shares, or 5.7 percent, of Nomad Foods, best known for brands such as Birds Eye, Iglo, and La Cocinera. The investment is passive. Earlier this month, the food company announced that shareholder Pershing Square Capital Management would sell up to 33.3 million Nomad Foods shares in a public offering.