Loeb buys into Rackspace, Finisar, IAC in Q2

Dan Loeb's Third Point LLC took a 7.25M-share position in Rackspace (RAX +4.3%) in Q2, along with a 3.5M-share position in Finisar (FNSR -0.2%) and a 2M-share position in InterActiveCorp (IACI +1.7%). (13F)

Rackspace has jumped on the disclosure. The Web hosting/IaaS provider remains in the midst of a strategic review, and has been the subject of many M&A rumors.

Finisar has ticked higher after selling off earlier in the wake of Cisco and Oclaro's reports. Shares fell yesterday in response to JDS Uniphase's guidance.

IAC has moved slightly higher. Shares were already up following news the company has bought Ask.fm.

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Comments (1)
  • Don MacLean
    , contributor
    Comments (23) | Send Message
    Seems that the buy of RAX -22% and Selling of BIDU +19% was pretty dumb, that is looking at end of June. Public has a faulty telescope mentality. Seems the reaction today worked well for me relative to RAX. No BIDU to speak of.
    14 Aug 2014, 01:20 PM Reply Like
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