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Ira Sohn Conference Live Blog: Movers, Shakers, Hedgie Comments

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Ira Sohn Conference Live Blog: Movers, Shakers, Hedgie Comments
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The Ira Sohn conference -- one of the world's biggest investing conferences -- is happening now. As expected, stocks have already begun to move.

06:10:01pm: Ackman: Valeant could become the next Berkshire Hathaway.

05:55:09pm: Ackman says Jarden Corp (NYSE: JAH) and Valeant Pharmaceuticals Intl Inc (NYSE: VRX) are undervalued. Jarden up over 5 percent after hours.

05:00:09pm: Bill Ackman up next, scheduled to take stage at 5:20pm.

04:39:10pm: Tepper: Go long equities, not bonds in wake of Chinese stimulus. Gives rest of presentation time to Bill Ackman.

04:35:26pm: Tepper: "Don't fight the Fed? Now you have got four Feds." Says there's a lot of easy money in Eurozone, Japan, China and the U.S.

04:26:56pm: Tepper: BBB bonds, high yield bonds, not cheap. S&P is.

04:26:11pm: Tepper talking bonds.

03:56:00pm: T-minus 14 until Tepper.

03:46:11pm: Bill Ackman hyping his new pick. See below:

03:37:17pm: Appaloosa's David Tepper up next. Short break, then expected to take stage at 4:20pm.

03:34:00pm: Herbalife chatter picking up.

03:24:17pm: Gundlach's final comments: buy Puerto Rico municipal bonds.

03:17:17pm: Gundlach: "Rates have bottomed"

 

03:13:13pm: Gundlach on economic indicators:

 

03:08:01pm: Gundlach now up. Key quotes:

  • "Buy infinite amounts at negative interest rates."
  • "All the Fed, all the time."

03:04:44pm: Next, talking Tinder.

02:55:11pm: Lone Pine still talking Microsoft:

02:43:17pm: Lone Pine Capital's Mala Gaonkar up next. Says they like Microsoft Corporation (NASDAQ: MSFT).

02:40:18pm: AbbVie, Brookdale volatile after mentions.

02:30:11pm: Robbins says Brookdale could be sold to a REIT; has many options.

02:22:15pm: Robbins discusses long theses on AbbVie Inc (NYSE: ABBV), Brookdale Senior Living, Inc. (NYSE: BKD). Shares spiking off mention.

02:15:11pm: Larry Robbins takes stage.

02:12:12pm: Price update: Gulf Coast Ultra Deep Royalty Trust - Royalty Trust Unit (NASDAQ: GULTU) up nearly 16 percent after Cooperman mentions small-cap as one of his best ideas. Shares now trade at $0.88.

02:05:00pm: Brief break, then Robbins, Jeffrey Gundlach up next.

01:50:00pm: Glenview Capital's Larry Robbins up next. Cooperman top picks also include Dow Chemical Co (NYSE: DOW) and General Motors Company (NYSE: GM).

01:44:04pm: Cooperman says he likes Actavis plc (NYSE: ACT), AerCap Holdings N.V. (NYSE: AER), Citigroup Inc (NYSE: C), Google Inc (NASDAQ: GOOG) and Priceline Group Inc (NASDAQ: PCLN).

1:35:23pm: From Cooperman's slideshow on the "underpinnings to a long-lasting U.S. equity bull market."

  • "Long-lasting and self sustaining U.S. economic expansion which should also be broad based, low in volatility, and "sweet spot" in growth."
  • "U.S. earnings and dividend growth of 5% to 7% per year over the coming several years."
  • "Long-lasting friendliness Federal Reserve gradual tightening beginning in second half of 2015."
  • "Continued monetary friendliness from the ECB/BOJ/OBOC/Global liquidity glut."
  • "Low, though gradually rising, sovereign bond yields.
  • "Modestly accelerating GDP growth in the Euro zone and Japan, a moderate slowing in China's growth rate, foreign macro landscape a tailwind to U.S. shares."
  • ""Okay" absolute U.S. share valuation/market extended on selected metrics."
  • "No alternative to equities from fixed income markets."
  • "Asset allocations should shift to equities."
  • "U.S. equity market very good valuation relative to bond interest rates and inflation."

1:29:59pm: Omega Advisors' Leon Cooperman takes the stage, says equity markets will finish 2015 higher than they are today. He does, however, say that a "hostile Fed" is a risk to stocks.

1:25:15pm: Walker finishes presentation on social media. Twitter summed it up quite nicely.

1:09:13pm: Patent Properties' Jay Walker up next.

1:06:54pm: Meister says company should spin off its China unit, says it could boost shares by $16. Yum moving lower on comments.

1:03:44pm: Meister still talking Yum.

12:54:55pm: Corvex's Keith Meister now on; talking Yum! Brands, Inc. (NYSE: YUM).

12:50:55pm: CSX continues even lower off Ackman mention; now down 3.6 percent.

12:40:17pm: Rosenstein says he is long QUALCOMM, Inc. (NASDAQ: QCOM); shares up nearly 1 percent.

12:39:13pm: Ackman says he will not talk about CSX Corporation (NYSE: CSX) at Ira Sohn; shares dip 2 percent.

12:38:59pm: Zoetis Inc (NYSE: ZTS) moving, as Bill Ackman talks about the stock with Wapner and Brown.

12:36:43pm: Shares of Walgreens Boots Alliance Inc (NASDAQ: WBA) moving up, as JANA's Barry Rosenstein discusses stock.

12:33:07pm: Bill Ackman Currently Speaking wit

h CNBC's Scott Wapner and Josh Brown: Says he is 100% confident in Herbalife Ltd. (NYSE: HLF) short thesis. Stock does not move on news.

 

12:26:17pm:

12:24:29pm:

12:22:23pm: Pioneer Natural down 2.4 percent after Einhorn comments, Whiting Petroleum Corp (NYSE: WLL), Concho Resources Inc (NYSE: CXO), Continental Resources, Inc. (NYSE: CLR) all falling as well.

12:11:11pm:

12:08:29pm: David Einhorn now discussing Pioneer Natural Resources (NYSE: PXD), hedge fund manager says "earns a positive margin but is not a positive value."

12:08:29pm: Greenlight's David Einhorn currently speaking at conference; being broadcast on CNBC, Bloomberg

Posted-In: Bill Ackman David Tepper Ira SohnNews Hedge Funds Events Movers General Best of Benzinga

 

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