Biofuel Energy gains on hedge fund buying
Shares of BioFuel Energy Corp.(NASDAQ:BIOF) rose sharply for the second straight session after yesterday two hedge funds disclosed that they had hiked their stakes in the ethanol making company.
While Greenlight Capital, owned by David Einhorn, bought 69,000 shares, Daniel Loeb’s Third Point LLC bought 34,000 shares. The stakes of these funds have now risen to 36.2 percent and 19 percent respectively.
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On Thursday, shares of the company rose a whopping 55 percent to $6.41 on Thursday and now up another 32% to $8.45.
Apple Inc iPhone 5 to beat iPhone 4S record
The iPhone 5 will surely fortify Apple Inc.(NASDAQ:AAPL)’s already strong position in the $219.1 billion smart phone market. The new gadget is taller, thinner and faster than any of its earlier versions. The phone has additional features like an enhanced Siri, Apple’s voice command service. It also has a new application called Pass book for storing loyalty gift cards and digital tickets to events.
Carl Howe, an analyst at Yankee Group has predicted that more than 10 million of the new phones will sell this month alone, beating last year’s 4S records.
“Apple has never been stronger,” the Cupertino company’s CEO Tim Cook said in the course of the presentation at the launch. According to estimates of analysts, Apple is likely to sell 58 million units by the year end generating around $36.2 billion sales.
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The iPhone 5 come with a wireless contract and depending on the memory contained cost $199, $299 or $399. On September 21, they will be available on store shelves in the U.S., Canada, Australia, France, Germany, UK, Japan, Singapore and Hong Kong and on September 28 in 22 other countries. Preorder booking starts on September 14.
Shares of AAPL are up another 1.20% to $691.23 and continued to hit record high of $691.23.