At the Value Investing Congress J. Carlo Cannell is saying that he is short Pitney Bowes Inc. (NYSE: PBI), as he believes its business model is becoming extinct.
Pitney Bowes Inc. (NYSE: PBI) provides mail processing equipment and integrated mail solutions in the United States and internationally.
J. Carlo Cannell is speaking at the Value Investing Congress and he is saying that he believes that Heelys, Inc. (NASDAQ: HLYS) will eventually go out of business, as its business model is not substantial over time.
Heelys designs, markets, and distributes action sports-inspired products under the HEELYS brand to the youth market.
Alexander Roeper is speaking at the Value Investing Congress and is discussing Owens-Illinois (NYSE: OI), which he believes is a value investment.
Alexander Roepers likes Xerox (NYSE: XRX), ITT Corporation
(NYSE: ITT), as companies traded in the U.S., to go along with Owens-Illinois (NYSE: OI).
Alexander Roepers of Atlantic Investment Management is speaking at the Value Investing Congress and is laying out a case for Owens-Illinois, Inc. (NYSE: OI).
Roepers likes consumable products, with repeatable businesses, something which OI has.
Owens-Illinois, Inc. manufactures and sells glass containers primarily in Europe, North America, South America, and the Asia Pacific.
Shares of The St. Joe Company (NYSE: JOE) are down sharply, and on eight times its normal volume, as David Einhorn laid out a bearish case on the company at the Value Investing Congress.
Einhorn said that the company is worth about $7-$10 share, and it is currently trading around $22 per share.
David Einhorn said he likes Vodafone (NYSE: VOD), as it's not currently receiving any valuation for Verizon Wireless, which it owns a 45% stake in.
Vodafone (NYSE: VOD) is the largest wireless subscriber in Europe.
At the Value Investing Congress, Greenlight Capital's David Einhorn gave his reason for his bearish stance on St. Joe (NYSE: JOE). Benzinga was the first to report this news about 35 minutes ago while the stock was up 2%; St. Joe is currently down close to 10%.
David Einhorn Greenlight Capital is short The St. Joe Company (NYSE: JOE), as he believes the company is a scheme.
JOE's management used to talk about how much land was a mile from beach, now it talks about how the land is 40 miles from airport.
David Einhorn says many of St. Joe's (NYSE: JOE) developments are ghost towns. He says management is trying to distract investors by saying it'll receive a lottery windfall from the oil spill. David Einhorn and his team at Greenlight have been negative on St. Joe since 2006.