Einhorn throws some more criticism Green
Mountain’s way
Hedge fund manager David Einhorn again
criticized Green Mountain Coffee Roasters Inc.(NASDAQ:GMCR) at a conference in
New York. A year ago, he had publicly created a short position in the Green
Mountain Coffee Roasters stock.
Einhorn was a huge draw at the Value
Investing Congress, where he said that he would present four investment ideas. He
started with critical comments on Green Mountain. His grouse against the
company is that disclosures are few and that it lacks spending discipline. He
also said that he feels that the company is “very exposed”.
Will GMCR Bounce Back After The Recent
Slump? Find Out Here
Einhorn’s Green light Capital manages
$7.7 billion in assets. It has risen 13.5 percent in the first nine months of
2012.
Shares of GMCR continued to slid in
Wednesday’s session and fell 3.37% to $23.19, extending its weekly loss to over
13%.
Sirius
touches 4 year high on Liberty Media buyout Rumors
Yesterday, Citi analyst John Bazinet
upgraded ‘Liberty Media’ as it is likely to buy out Sirius XM Radio
Inc(NASDAQ:SIRI). This led to the Sirius stock jumping to a four year high on
heavy volumes.
Just before market close, the stock was
trading at $2.63, up 2.3 percent or 6 cents. It touched an intraday high of
$2.68, the highest since July 2008.
Not only has Bazinet upgraded Liberty
Media to ‘Buy’ from his earlier ‘Neutral’ stance, he has also maintained his
‘Buy’ rating on Sirius. According to Bazinet, Liberty Media has spent $1.4
billion to up its stake in Sirius from 40 percent to 49.6 percent and the media
company will control half of Sirius by the end of the year.
He upped
the price target of Sirius shares from $2.5 to $3. He also raised the Liberty
Media target to $121, $27 higher.
The merger with XM in 2008 made Sirius
the only company which provides satellite radio. But it faces stiff online competition
from Pandora Media, Apple’s iTunes store and Amazon’s mp3 downloading service.
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