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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Blackberry Limited | NASDAQ:BBRY | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 11.57 | 11.54 | 11.57 | 0 | 01:00:00 |
By Polya Lesova
Point72 Asset Management, the hedge-fund firm founded by billionaire Steven A. Cohen, sold its stakes in a number of companies in the second quarter, including Sirius XM Holdings Inc., Zynga Inc. and Yahoo Inc., according to a regulatory filing Thursday.
Point72 sold 35.83 million shares in Sirius XM Holdings, 32.89 million shares in Zynga and 11.69 million shares in Yahoo.
The firm also eliminated its stake in BlackBerry Ltd., the smartphone maker that has been struggling to turn around its business, as well as home-improvement retailer Home Depot, according to the filing that showed Point72's holdings as of June 30.
Among other divestments, Point72 sold stakes in oil-and-gas producer Quicksilver Resources Inc., energy producer Encana Corp. and cellphone carrier T-Mobile US Inc.
Point72, formerly SAC Capital Advisors LP, has changed drastically amid a federal investigation into insider trading at the firm. SAC has pleaded guilty to insider trading and agreed to pay a fine of almost $1.2 billion and cease managing outside money.
Eight current or former SAC employees have been convicted of or pleaded guilty to insider trading.
Mr. Cohen has denied involvement in any wrongdoing and hasn't been charged criminally but faces a pending civil case brought by the Securities and Exchange Commission, which alleges he failed to adequately supervise his employees.
Write to Polya Lesova at polya.lesova@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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