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☆ Greenlight's David Einhorn hit home runs short selling and buying companies making big buybacks
▼ + stars: | 2023-07-30 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Greenlight Capital's David Einhorn, a value-oriented hedge fund manager, found success pivoting to short selling and buying companies with big buyback programs. At the end of that bull market, Einhorn said the majority of surviving value investors ceased to consider valuation as a determining factor in their investment process. That "was an exceptionally good year," Einhorn said in his 2022 investor letter. The 54-year-old Einhorn also pivoted to buying companies with sizable buyback programs in place, instead of purchasing cheap stocks that have been struggling to close the valuation gap. Atlas Air Worldwide and Green Brick Partners were some of the stocks Einhorn held whose boards had authorized big repurchases.

Persons: Greenlight Capital's David Einhorn, Einhorn, shorting, Cathie Wood, Greenlight Organizations: Cornell, Greenlight Capital, Wall, Atlas Air, Green Brick Partners, Apollo Global, Green

☆ FedEx appoints new CFO
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +1 min

[1/2] Signage is seen on a FedEx location in Manhattan, New York City, U.S., September 3, 2021. REUTERS/Andrew KellyJuly 17 (Reuters) - FedEx Corp (FDX.N) on Monday appointed former CEO of Atlas Air Worldwide John Dietrich as chief financial officer, effective Aug. 1. FedEx said Dietrich, a veteran in the aviation and air cargo space, has held numerous leadership roles at Atlas Air Worldwide since 1999. The development comes months after the company outlined $4 billion in permanent cost cuts by the end of its 2025 financial year. Last fiscal year, FedEx slashed about 29,000 jobs, retired 18 planes, shuttered offices and pared back profit-sapping Sunday deliveries.

Persons: Andrew Kelly, John Dietrich, Michael Lenz, Dietrich, Priyamvada, Devika Syamnath Organizations: FedEx, REUTERS, FedEx Corp, Monday, Atlas Air, Atlas Air Worldwide, Thomson Locations: Manhattan , New York City, U.S, Memphis, Bengaluru

☆ Stocks making the biggest moves midday: Credit Suisse, First Republic Bank, Halliburton and more
▼ + stars: | 2023-03-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Credit Suisse — Shares of Credit Suisse plunged 25% after its biggest backer, Saudi National Bank, said it won't provide the Swiss bank with further financial help. First Republic Bank — The regional bank stock tumbled 23%, giving back some of Tuesday's gains as turmoil at Credit Suisse rattled the broader sector and S&P Global Ratings downgraded its debt rating to BB+ from A-. U.S. banks — Major U.S. banks tumbled on Wednesday as unease over the latest crisis at Credit Suisse spooked some investors. Energy stocks — Major energy stocks took a hit as oil stooped to its lowest level in more than a year. New York Community Bancorp — The regional bank stock jumped more than 5%, bucking the broader sell-off trend in banking names.

☆ Stocks making the biggest moves after hours: Lennar, First Republic, Western Alliance and more
▼ + stars: | 2023-03-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Check out the companies making headlines after the bell:Lennar — The homebuilding stock gained about 2% in extended trading. Lennar beat analysts' earnings and revenue expectations for the recent quarter, according to Refinitiv. First Republic — Shares of the regional bank stock were on the move once again after the bell, last up 12%. Other bank names Western Alliance and KeyCorp also rose, gaining about 10% and 3.5%, respectively. — The retail stock lost more than 7% after posting disappointing guidance for the first quarter and full year, according to FactSet.

☆ Investor David Einhorn, whose hedge fund was up nearly 37% last year, gives his favorite longs
▼ + stars: | 2023-03-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Greenlight Capital's David Einhorn is continuing to bet on some of the long stocks that helped his hedge fund outperform in last year's market rout. That includes CONSOL Energy , a coal stock that was among the hedge fund's biggest long positions and winners in 2022. The comments from Einhorn come after the star hedge fund manager posted a solid end to 2022 by betting on inflation and against growth bubble names. His hedge fund surged nearly 37% due in part to long positions in names like Atlas Air Worldwide , Teck Resources and Twitter, before its acquisition. Green Brick Partners and Danimer Scientific marked the hedge fund's only two significant losing long positions 2022, he wrote in his January letter.

☆ David Einhorn says investors should be 'bearish on stocks and bullish on inflation'
▼ + stars: | 2023-03-01 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Greenlight Capital's David Einhorn said Wednesday he's keeping his negative stance on the stock market as inflation and interest rates could shoot higher. "I think we should be bearish on stocks and bullish on inflation," Einhorn said on CNBC's "Halftime Report." "I think that both long and short term rates are headed higher and probably higher than what people are expecting," Einhorn said. "I think it would be better if they cared less about the stock market in either direction." At the end of 2022, Greenlight's biggest long position included Green Brick Partners, Brighthouse Financial and Consol Energy.

One of Amazon 's key air cargo operators said Monday that the e-commerce giant is scaling back on flights this year, citing lower demand and slower economic growth. Air cargo rates, which surged in recent years due to port congestion and high demand for fast deliveries, have slumped. The International Air Transport Association said last month that air cargo demand in November was down nearly 14% from the year-ago period, while capacity fell 1.9%. Through Amazon Air, the company has built up a burgeoning air network to control more aspects of the delivery process and ensure faster delivery. WATCH: How the pandemic shifted how Boeing and airlines think about air cargo

☆ Boeing delivers last 747, saying goodbye to 'Queen of the Skies'
▼ + stars: | 2023-02-01 | by ( Valerie Insinna | ) www.reuters.com time to read: +4 min

"It's the airplane that redefined the industry and redefined air travel," said Guy Norris, co-author of "Boeing 747: Design and Development Since 1969." British billionaire entrepreneur Richard Branson, who was inspired to start an airline with a single Boeing 747 after getting stuck on a delayed flight, earlier on Tuesday called it a "wonderful beast" as he bid farewell. When Boeing confirmed in July 2020 that it would end 747 production, it was already only producing at a rate of half an aircraft a month. Smith said all 747 program workers were transferred to other jobs or voluntarily retired. Boeing will remain tied to the 747 through the aftermarket business and the Air Force One replacement program, which Boeing won in 2018.

☆ Greenlight's David Einhorn is shorting innovation stocks like those held by Cathie Wood
▼ + stars: | 2023-01-17 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Einhorn also said he is still short some 'bubble' names. Driving the stellar performance was a successful bet against what seemed to be the constituents of Wood's flagship ARK Innovation ETF (ARKK) . "In early 2021, we also identified an actively-managed ETF of so called 'innovation' stocks that appeared to us to have significantly similar characteristics to our bubble names," stated the letter. ARKK 1Y mountain ARK Innovation ETF's 1-year sell-off Einhorn said he created another "bubble" basket with 31 names totaling 6.5% of capital in January of last year. Einhorn said this bubble basket remained in the portfolio but he has covered some positions.

☆ Boeing airplane deliveries picked up in November
▼ + stars: | 2022-12-13 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Boeing 's aircraft deliveries picked up last month with airlines getting more 737 Max and 787 Dreamliner planes. Boeing also delivered 32 of its 737 Max planes to carriers including United and Southwest . November deliveries also included the second-to-last Boeing 747, which went to Atlas Air Worldwide Holdings . Boeing logged orders for 21 planes in November, which did not include United's massive order for at least 100 Dreamliners, announced earlier Tuesday. So far this year, Boeing has delivered 411 planes and logged net orders for 571 planes.

☆ The very last 747 jumbo jet is about to roll off Boeing’s assembly line
▼ + stars: | 2022-12-06 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN Business —After 53 years and more than 1,570 planes, the last Boeing 747 is set to roll off the assembly line in Washington state Tuesday, on its way to serve as a cargo plane. The once-groundbreaking jumbo jet, with the distinctive second-floor bulge, is perhaps the most notable and popular plane Boeing has ever built. The Boeing 747 in 1969. Other than that use, the 747’s days as a passenger plane are now almost completely behind it. But there are still 314 747 freighters in use, according to Cirium, many of which were initially used as passenger jets before being renovated into freighters.

☆ Boeing's last 747 is rolling out of the factory after a more than 50-year production run
▼ + stars: | 2022-12-06 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

EVERETT, Wash. − Boeing 's final 747 is set to roll out of the company's cavernous factory north of Seattle as airlines' push for more fuel-efficient planes ends the more than half-century production run of the jumbo jet. "It's a very surreal time, obviously," said Kim Smith, vice president and general manager of Boeing's 747 and 767s programs out of the assembly plant here. "For the first time in well over 50 years we will not have a 747 in this facility." The lone 747, covered in a green protective coating, sits inside the company's massive assembly plant in Everett — the largest building in the world by volume, according to Boeing. The end of 747 production doesn't mean the planes will disappear entirely from the skies, since the new ones could fly for decades.

☆ David Einhorn says he's bearish because the Fed's 'official policy is to make the stock market go down'
▼ + stars: | 2022-10-20 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Greenlight Capital's David Einhorn, who is crushing the market with double-digit returns this year, is selling stocks as the Federal Reserve continues to deflate the market with aggressive rate hikes. However, higher interest rates also discourage investments and in turn crunch supply, which is most evident in the housing market. "The most glaring area might be in housing, where higher rates lead to reduced supply despite widespread shortage," Einhorn said. That compares with a 23.9% decline for the S & P 500 during the same period as the benchmark tumbled into a bear market. Further, high short-term interest rates provide competition for gold," Einhorn said.

☆ Apollo Global exploring takeover of Ryder System - Bloomberg
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +1 min

Sept 27 (Reuters) - Apollo Global Management (APO.N) is exploring a takeover of freight services provider Ryder System (R.N), Bloomberg News reported on Tuesday citing people with knowledge of the matter. Apollo and Ryder did not immediately respond to Reuters requests for comment. The potential bid comes months after Ryder rejected hedge fund HG Vora Capital Management's offer to acquire the company for $4.4 billion. Last month, Apollo led a group to take air-freight company Atlas Air Worldwide Holdings Inc (AAWW.O) private for nearly $3 billion. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Kannaki Deka in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

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