Seeking Alpha

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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