Third Point takes new positions in tech stocks, trims earlier losses

BOSTON, Aug 6 (Reuters) - Daniel Loeb's hedge fund Third Point LLC took new positions in technology companies including Alibaba (BABA) and Amazon (AMZN) and reported strong returns in the second quarter after he took back the reins as sole chief investment officer in May.

The billionaire investor who founded Third Point a quarter century ago also told clients in a letter seen by Reuters that he bought a stake in The Walt Disney Company (DIS) where streaming services are creating the company's "biggest market opportunity ever." (Reporting by Svea Herbst-Bayliss Editing by Chris Reese )

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.