The main fund at Ken Griffin’s Citadel is up 10% so far this year
- * Ken Griffin’s Wellington Fund is up 10% so far this year.
- * Citadel’s flagship fund is up 3.33% in April. The April performance is driven by equities, commodities, credit, and quant.
- * Citadel Global Equities is up 2.61% in April and 5.62% so far this year.
Citadel’s flagship Wellington Fund is up 10% so far this year, a source familiar with the returns told CNBC on Tuesday.
The fund was up 3.33% in April, driven by equities, commodities, credit, and quant strategies.
The Tactical Trading fund at the firm is up 3.03% for the month and 8.54% for the year, while Citadel Global Equities is up 2.61% in April and 5.62% so far this year.
Citadel manages more than $30 billion and is run by billionaire Ken Griffin. The S&P 500 was up 3.93% in April and is up more than 15% year to date.
Research Calls
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Upgrades
- Banco de Sabadell (BNDSF) upgraded to Overweight from Equal-Weight at Morgan Stanley
- Cohu (COHU) upgraded to Buy from Hold at Stifel; tgt raised to $22
- CyrusOne (CONE) upgraded to Buy from Hold at Berenberg; tgt raised to $69
- Computer Programs (CPSI) upgraded to Outperform from Market Perform at Wells Fargo
- Duluth Trading Co (DLTH) upgraded to Outperform from Neutral at Robert W. Baird; tgt $22
- NIC Inc (EGOV) upgraded to Buy from Hold at Loop Capital
- GW Pharma (GWPH) upgraded to Outperform from Perform at Oppenheimer
- Itron (ITRI) upgraded to Outperform from Neutral at Robert W. Baird; tgt raised to $62
- lululemon athletica (LULU) upgraded to Neutral from Underperform at Macquarie
- Lamb Weston (LW) upgraded to Buy from Neutral at BofA/Merrill; tgt $85
- Norbord (OSB) upgraded to Neutral from Sector Underperform at CIBC
- Oceaneering Intl (OII) upgraded to Buy from Neutral at Seaport Global Securities; tgt $23
- SBM Offshore (SBFFF) upgraded to Overweight from Equal Weight at Barclays
- Sinclair Broadcast (SBGI) upgraded to Outperform from In-line at Evercore ISI
- SolarEdge Technologies (SEDG) upgraded to Mkt Outperform at JMP Securities; tgt $60
- Texas Roadhouse (TXRH) upgraded to Buy from Neutral at Longbow; tgt $65
- Veeco Instruments (VECO) upgraded to Buy from Hold at The Benchmark Company; tgt $15
- Vivint Solar (VSLR) upgraded to Buy from Neutral at Citigroup; tgt raised to $8.50
- Welltower (WELL) upgraded to Outperform from Market Perform at BMO Capital Markets
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Downgrades
- Adaptimmune Therapeutics (ADAP) downgraded to Mkt Perform from Outperform at SVB Leerink; tgt lowered to $5
- Anadarko Petroleum (APC) downgraded to Hold from Buy at Stifel; tgt raised to $76
- Boeing (BA) downgraded to Equal Weight from Overweight at Barclays; tgt lowered to $367
- Brookfield Property Partners (BPY) downgraded to Outperform from Top Pick at RBC Capital Mkts; tgt $24
- Discover Financial Services (DFS) downgraded to Perform from Outperform at Oppenheimer
- Physicians Realty Trust (DOC) downgraded to Market Perform from Outperform at BMO Capital Markets
- Fastenal (FAST) downgraded to Mkt Perform from Outperform at William Blair
- Fluor (FLR) downgraded to Neutral from Buy at Goldman; tgt lowered to $28
- Ferguson plc (FERGY) downgraded to Hold from Buy at Stifel
- Hudbay Minerals (HBM) downgraded to Neutral at Eight Capital
- Haier Electronics Group Co Ltd (HRELY) downgraded to Hold from Buy at Deutsche Bank
- IAMGOLD (IAG) downgraded to Hold from Buy at Canaccord Genuity
- IAMGOLD (IAG) downgraded to Market Perform from Outperform at BMO Capital Markets
- Societe Generale (SCGLY) downgraded to Hold from Buy at DZ Bank
- Gardner Denver (GDI) downgraded to Neutral from Buy at UBS; tgt raised to $38
- MSC Industrial (MSM) downgraded to Mkt Perform from Outperform at William Blair
- Wesco (WCC) downgraded to Mkt Perform from Outperform at William Blair
- Intersect ENT (XENT) downgraded to Mkt Perform from Outperform at SVB Leerink; tgt $29
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Initiations/resumptions
- Cumulus Media (CMLS) initiated with a Neutral at B. Riley FBR; tgt $20
- Jumia (JMIA) initiated with a Hold at Stifel
- Jumia (JMIA) initiated with a Hold at Berenberg
- Jumia (JMIA) initiated with a Mkt Perform at Raymond James
- Pinduoduo (PDD) initiated with a Hold at 86 Research
- TTM Tech (TTMI) resumed with a Hold at Needham
- Webster Financial (WBS) initiated with a Buy at Compass Point
Clovis Oncology beats by $0.10, beats on revs (19.10)
- Reports Q1 (Mar) loss of $1.63 per share, excluding non-recurring items, $0.10 better than the S&P Capital IQ Consensus of ($1.73); revenues rose 78.8% year/year to $33.12 mln vs the $32.1 mln S&P Capital IQ Consensus.
- As a result of Rubraca's breakthrough therapy status, Clovis agreed to provide regular updates to FDA on the Company's advanced prostate cancer development program on a regular basis. At the end of April 2019, Clovis provided an update to FDA on 52 patients with BRCA-mutant mCRPC that showed a RECIST response rate and PSA response highly consistent with the data presented at ESMO 2018. Clovis expects to discuss this update with FDA in the next several weeks. Clovis intends to file the planned supplemental NDA by the end of 2019.
- "With solid sales performance, an encouraging update of our TRITON prostate cancer data in support of our planned supplemental NDA in late 2019, the expected near-term initiation of two lucitanib combination studies and a successful financing that extends our projected cash runway into 2022, we are very enthusiastic about our progress toward our 2019 goals. In addition, I am pleased to announce that Dan Muehl, our Executive Vice President Finance, has been promoted to Chief Financial Officer. Dan has been with the Company for about four years and this is an extremely well-deserved promotion
CNH Industrial beats by $0.03, misses on revs; reaffirms FY19 EPS guidance, in-line (10.47)
- Reports Q1 (Mar) earnings of $0.18 per share, excluding non-recurring items, $0.03 better than the S&P Capital IQ Consensus of $0.15; revenues fell 4.7% year/year to $6.46 bln vs the $6.76 bln S&P Capital IQ Consensus.
- Co issues in-line guidance for FY19, sees EPS of $0.84-0.88 vs. $0.86 S&P Capital IQ Consensus
- Co also reaffirms net sales of Industrial Activities at ~$28 billion, modestly up year-over-year
- The general sentiment in the agricultural end-markets remains muted in the short-term, primarily as a result of uncertainties related to unresolved trade tensions, the spillover implications of recent negative weather events (Australia and Northern Europe), and geopolitical and macroeconomic uncertainties
- Positive indications exist in the North American non-residential construction industry, as well as in the healthy end-user demand in Europe for light-duty trucks, and the acceleration of the LNG heavy-duty trucks penetration