Another hedge fund has taken a major stake in a retailer. Ricky Sandler’s Eminence Capital on Thursday disclosed that it owns 9.8 percent of The Men’s Wearhouse. The firm made the disclosure in a 13D filing, suggesting the position is an activist stake. Remember, on September 18, Jos. A. Bank Clothier offered to acquire Men’s Wearhouse for $48 per share in cash, a 42.4 percent premium over the previous day’s closing price. On October 9, Men’s Wearhouse rejected the offer. In his filing, Sandler said that on November 7, he sent a letter to the company’s board expressing disappointment in its response to the proposal. Sandler said his firm thinks the board’s fiduciary duties require that they immediately instruct their financial advisors to evaluate all strategic alternatives available to the issuer and enter into a dialogue with Jos. A. Bank regarding a possible merger. “We intend to exercise our rights as shareholders to hold you accountable if you fail to take these actions by close of business on November 11,” Sandler writes in the letter, which also expresses displeasure with Men’s Wearhouse CEO Doug Ewert’s failure to return his November 4 phone call.
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The average hedge fund rose 1.5 percent in October, according to a pair of hedge fund databases. This was the second best month of 2013, according to eVestment, which calculates the year-to-date gain for the average hedge fund at 7.1 percent. HFR says it is closer to 7.2 percent. But who’s quibbling? At this point, 2013 is shaping up to be the best year for long-short equity funds since 2009 and second best since 2006, when these funds returned 26.7 percent and 15.3 percent, respectively, according to eVestment. Macro funds enjoyed their second consecutive strong month and their best since January.
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It looks likePaulson & Co., Blackstone Group and Centerbridge Partnerswill nearly triple their investment when Extended Stay America Inc. goes public next week, according to a Bloomberg report.
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Elliott Associates’Elliott International fund reported that it owns 11.68 percent of German drug distributor Celesio, which is the target of an $8.3 billion takeover offer from McKesson. New York-based Elliott, founded by Alpha Hall of FamerPaul Singer, is known for taking these types of large arbitrage positions.
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Deutsche Bank raised its price target on American International Group, a major hedge fund favorite, at the end of the second quarter, to $58 from $56. It is looking for a “healthy double-digit” gain in the stock, according to a note sent to clients on Thursday. Earlier this month, shares of AIG plunged more than 6 percent after it reported quarterly results that were disappointing to some investors. The stock had the most number of hedge funds counting it among their top-10 holdings at the end of the second quarter.
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微软股价飙升，投资者获利回吐。该股下跌1.74%，至37.51美元。
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Shares of Green Mountain Coffee Roasters dropped to their lowest level since May 7, closing Thursday at $58.17, down nearly 3 percent. The stock, a major short position for David Einhorn’s New York-based firm Greenlight Capital, is now down about 33 percent from its high.
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另一只最受欢迎的对冲基金股票Priceline.com在公布第三季度强劲业绩后，盘后交易出现波动。一些人认为，该公司第四季度的前景有些令人失望。该股起初下跌，然后进入正区域，然后回落并跨过盈亏平衡点。这家在线旅游服务公司还宣布，将拆分首席执行官和董事长的职位。该股在正常交易日收盘时跌幅超过3%。
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Shares of Groupon plunged by a double-digit percentage in after hours trading after revenues came in short of expectations. The stock closed 5 percent in the regular trading session.