Hedge Funds Lose Tons Of Money After Family Dollar Drops 7%
By Bob Luochang Yu
Family Dollar Stores, Inc. (FDO) drops about 7% today after the company reported its 10Q for fiscal first-quarter 2012. According to WSJ, Family Dollar’s earnings rose 8.1% as the discount retailer’s same-store sales improved due to higher traffic and customer transaction values. However, its revenue missed analyst expectations.
FDO closed on Thursday at $57.96 and is trading at $53.87 at 11:44AM EST on Friday, losing 7.06% or $4.09. Several hedge funds may suffer big losses due this price decline:
1. Pershing Square – Bill Ackman: loses $46.58 million
2. Trian Partners – Nelson Peltz: loses $29.57 million
3. Scout Capital Management – James Crichton and Adam Weiss: loses $14.43 million
4. Renaissance Technologies – Jim Simons: loses $10.36 million
5. Paulson & Co – John Paulson: loses $10.13 million
6. Pennant Capital Management – Alan Fournier: loses $10.07 million
7. Navellier & Associates – Louis Navellier: loses $4.21 million
8. D. E. Shaw – David E. Shaw: loses $4.08 million
9. Glenview Capital – Larry Robbins: loses $3.39 million
10. Sandell Asset Management – Tom Sandell: loses $2.53 million
via Hedge Funds Lose Tons Of Money After Family Dollar Drops 7%.