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Avid Technology, Inc. latest news:

  • 02/14/2018 16:06:51

    Appaloosa ups investments in Micron, Facebook, Apple, adds new bets in Caesars, MGM in 4th quarter

    Billionaire hedge-fund investor David Tepper's Appaloosa Management was a buyer of technology, energy and bank shares in the fourth quarter, according to a Wednesday regulatory filing. Between the end of the third and fourth quarter, Appaloosa boosted its stake in Bank of America Corp. , upping his position by 170% to 10.8 million shares. He also increased his stake in Apple Inc. , raising that investment to 3.2 million shares and raising his stake in Micron Technology Inc. to 10.45 million shares, representing his largest holding according to WhaleWisdom.com. The hedge-fund luminary also lifted his position in Facebook Inc. by about 70% to 2.2 million shares, while adding to his holdings in the tech-heavy PowerShares QQQ Trust Series 1 to 4.3 million shares. Meanwhile, Tepper took a long position in the exchange-traded Financial Select Sector SPDR ETF , purchasing $280 million worth, though the fund also sold call options in the ETF worth $35 million. Call options give the holder the right but not the obligation to buy an asset a set price and time. Appaloosa also made bullish bets in the energy-centered Energy Select Sector SPDR ETF for $35 million. The investor was a buyer in gambling assets, with new stakes in Caesars Entertainment Corp. , about 5.86 million shares, and MGM Resorts International , where he picked up 2.3 million shares, from the end of the third quarter. Tepper notably divested his entire stake in Kinder Morgan Inc. , Chesapeake Energy Corp. , Whirlpool Corp. and General Motors , recent filings showed. Large investors are required to reveal their long equity holdings at the end of each quarter in filings with the Securities and Exchange Commission.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 01/23/2018 09:30:33

    BRIEF-Cove Street Capital Makes Suggestions To Avid Technology On Enchancing Board Composition


  • 01/08/2018 06:00:06

    Axovant's stock tumbles toward record low after disappointing drug trial results

    Shares of Axovant Sciences Ltd. plunged 46% toward a record low in premarket trade Monday, after the biopharmaceutical company said it would discontinue its intepirdine program for the treatment of dementia after it failed to meet its primary efficacy endpoints in a phase 2 trials. "Based on the totality of intepirdine data to date, there is no evidence to support its further development," said Chief Executive David Hung. "We are incredibly disappointed and saddened for the millions of people living with these difficult conditions, and are deeply grateful to the patients, caregivers and investigators who participated in our trials." Separately, the company said its investigational drug nelotanserin met its primary safety endpoing in a phase 2 visual hallucination study. The stock has tumbled 24% over the past three months through Friday, while the iShares Nasdaq Biotechnology ETF has lost 3.2% and the S&P 500 has gained 7.6%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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