The fifth annual Delivering Alpha conference kicked off this morning in New York, and today’s conference lineup includes Pershing Square Capital Management’s Bill Ackman, Elliott Management’s Paul Singer, Trian Fund Management's Nelson Peltz and Icahn Enterprises LP IEP's Carl Icahn.
Already this morning, attendees have gotten some market-moving commentary from the conference. Here’s a breakdown of the Delivering Alpha news thus far.
Nelson Peltz
Trian Fund Management CEO Nelson Peltz discussed several stocks this morning at the conference. Despite recently losing a proxy battle with E I Du Pont De Nemours And Co DD, Peltz said that he would consider buying more shares of the stock.In addition Peltz had good things to say about Honeywell International Inc. HON and McDonald's Corporation MCD, explaining, “If I wasn’t in Wendy's, I might like McDonald's.”
Finally, Peltz added that he sees opportunities in China for companies like Mondelez International Inc MDLZ.
Bill Ackman
Ackman also delivered a fair amount of market-moving commentary this morning. After praising the dynamic business of NOMAD FOODS LTD NOMHF, Ackman added that he likes what he sees from the management at Danaher Corporation DHR.On the topic of China, Ackman said that the current environment is worse than the U.S. environment in 2007, but added that “long term, I think it’s a great story.”
Market Reaction
Shares of Sears Holding Corp SHLD are trading down more than 4.2 percent so far today following Ackman’s comments that the company doesn’t have much left at this point.However, the biggest Delivering Alpha mover so far today is Macy’s, Inc. M, which is up more than 5.5 percent on Wednesday following Starboard CEO Jeff Smith’s declaration that he believes the stock is worth $125 per share.
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