Greenlight Capital

  • 29 Sep 2014 at 4:38 PM

David Einhorn Just Came Into Some Bagel Money

The Einstein Noah Restaurant Group, whose bagel shops include Einstein Brothers Bagels, Noah’s New York Bagels and Manhattan Bagel, said on Monday that it would sell itself to JAB Holding Company, a German conglomerate formerly called Joh. A. Benckiser, for about $374 million. The price of $20.25 a share in cash represents a 47 percent premium over Einstein Noah’s 30-day average trading price, the company said…David Einhorn, whose hedge fund is Einstein Noah’s largest shareholder, with a stake above 35 percent, said he supported the sale to JAB. He called the deal a “win-win for all parties.” “For more than a decade, we have worked closely with the Einstein Noah Restaurant Group to execute a turnaround plan, reducing debt and expanding its store footprint,” Mr. Einhorn said in a statement. “J.A.B. is an experienced firm that will lead Einstein Noah Restaurant Group into its next phase of growth.” [Dealbook]

  • 05 Aug 2014 at 3:30 PM

David Einhorn Could Use A Hand Here!

“We had a difficult time finding new investments this quarter,” he said today on a conference call discussing results at Greenlight Capital Re Ltd. (GLRE), the Cayman Islands-based reinsurer where he is chairman. “As the market continues to rise in the face of conflicting economic data, global unrest, and looming overdue Fed exit from quantitative easing we remain cautiously positioned.” [Bloomberg]

“I didn’t know ‘Mean Girls’ had a Wall Street edition,” Jonathan Bush said an in interview with the Wall Street Journal, in response to Greenlight Capital’s bet against athenahealth,1 announced last week at the Ira Sohn Investment Conference. Bush mounted an equally interesting defense of his company yesterday on CNBC, when he said: Read more »

  • 01 May 2014 at 5:28 PM

David Einhorn Did Okay For Himself Last Month

David Einhorn’s Greenlight Capital Inc. posted returns of 4.3 percent in April, owing to his short bets against high-flying momentum stocks and its holdings of Apple Inc. and Micron Technology, according to sources familiar with the hedge fund on Thursday. The April gains brought the $10 billion hedge fund’s gains to 3.1 percent for this year to date. [Reuters]

Or something along those lines. Read more »

  • 24 Mar 2014 at 5:12 PM

CSI: Greenlight Capital

David Einhorn has watched enough criminal procedurals to do a little gumshoeing himself. Read more »

David Einhorn doesn’t know who Seeking Alpha contributor “Valuable Insights” is. He’s pretty sure VI is a fellow Micron Technology investor. And he’s damned sure (a) that one of VI’s more recent insights was anything but valuable to him, and (b) that he’d like to find out exactly who VI is. And he would appreciate it if a court would help him do so. Read more »

The Greenlight Capital funds, run by hedge fund manager David Einhorn, returned 4.3 percent in the third quarter of 2013, bringing the funds’ year-to-date net return to 11.8 percent, according to a letter to investors seen by Reuters…The letter said that “virtually every long position” that the firm had was profitable in the third quarter, and that it added a “medium-sized long position” in Osram Licht AG . [Reuters]