david einhorn's micron trade. we'll break down what it means for the hedge fund giant's portfolio coming up. >>> let's start with apple. thought we were going to break there. i like that. april has been a big month for the company in the past few years. in 2012, apple launched its dividend. last year, in april, apple increased its dividend again. plus, the 7 for 1 stock split. citigroup kicked off this april, reiterating a buy rating. joining us is jim suva. good to see you again. >> great to see you again, scott. we think it's going to be an exciting month for april coming up in the month of april. >> all right. what are they going to do? >> first of all, earnings are on the 27th. as people start to do their due diligence in field trips, we think they're going to take a look at the due diligence and see that the iphone 6 is selling great. in fact, the higher configurations of the 128 gig and 64 gig are selling so much better. big margin improvement. big asps for apple. everyone's talking about the problem apple h

david einhorn said today green light capitals taking new positions.tails, we go to scarlet fu. fax that is right -->> that is the right according to a letter bloomberg upturned. general motors and air cap. when it comes to general motors, greenlight capital bought shares at 34 dollars 60 two cents in the first quarter after selling a stake in early 2013. gm closer to breaking even in europe and low gas prices should boost demand for suvs and light trucks. on the flipside, greenlight exited against companies involved in mergers and acquisitions of the first quarter. this is all according to the letter obtained by bloomberg. mark: scarlet fu joining us from the breaking news do -- new stuff. more details coming up on street smart at the top of the hour. scarlet will be back with me for another edition on -- of off the charts on the other side of the break. we will look at the beloved new york rangers who are tied 1-1 in the first round of the nhl stanley cup playoffs. stay with us. we continue right after this break. ♪ mark: welcome back. it is late apr

good morning, when david einhorn talks investors listen. kets have been paying attention to einhorn ever since he bet against niemann brothers months before the bank collapsed in 2008. he says there's a good chance earnings will strength this year and the market is too high if earnings have peaked. he knows the impact on oil prices and the stronger dollar is having on earnings but also the effect of the productivity bust on margins. companies cut labor faster than output and higher connectivity lead to better earnings and stock prices. labor costs will likely rise. he also has harsh words for ge and his decision to shed most of its finance business. ge capital -- ge's $16 billion charge will drain another 5 to 7% from s&p 500 earnings adding to the debate about the integrity of the country's reported results. einhorn says that ge chose to exit rather than face it's first fed-supervised stress test is one of the first real successes of the dodd-frank reform law. it fell 1.7% in the first quarter versus a nearly 2% gain in the average u.s. sto

david einhorn said your mutt -- numbers are more like 20%.hoot every year to grow by 30%. over the course of the year, we kind of get in there. it's a very ambitious goal. very few companies try to grow organically 30%. we think we've got it in us because of the wonderfulness of our product. stephanie: if i was your employee or your mom or your sister, if i was investor i would care about numbers and if you're doing it. guest: we shoot for 30%. we don't do the kabuki theater of having a secret number and then put guidance around that. that so tiring. stephanie: i agree with you. guest: maybe they will hit the goal but they know that i like setting goals that are possible to miss and are ambitious. my employees know that missing is ok because that's what makes the culture resilient and powerful. stephanie: do you like being prepared to john ledger? guest: is he a good guy? if so i think of him all the time. erik: don't you think there's some sense in a setting expectations for investors that you can meet? i could go to the gym and say that i'm

matt: i haven't seen that anywhere also historically a turnaround painted like with david einhorn.wn 5% and it will get worse. that $16 billion is after-tax and it will be a drain of 5% to 7% of equity earnings alone. alone. even without that you're looking at a drop of more than 5% this year. betty: if you are able or berries to the data differently. jeremy siegel -- he says what happen in the first quarter and what is happening in the first quarter is a one-off. it is absorbing the big rise in the dollar. matt: and the oil crash. betty: that has happened already so let us move on. number 7 -- crafting a better mac & cheese. one of the foods i grew up with. matt: everyone did. betty: the company announced original craft mac & cheese 10 longer be made with artificial preservatives or synthetic dollars. they will replace that glowing orange with something else. matt: it'll be interesting to see what the new color is. betty: white? pale yellow? matt: they have 78% of this market. i was reading about the historical development of kraft macaroni and cheese. jim craft developed a way to

david einhorn and dan's results are in. it's a mixed bag. the offshore fund regarded as the flagship up 3.3% for the quarter, handily beating the s&p. apparently with names like activist and phillip 66, at least on the long side. although, of course, those come directly from filings which could be dated at this point. and we don't know exactly what's in his portfolio in terms of credit and other asset classes. probably some greek bonds but not sure exactly what else these days. for einhorn, a frustrating quarter thanks largely to his big bet on micron secnology, semi condition. micron shares fell 22%, dragging down green light with them for an overall loss of 1.8% in the quarter. so as you mentioned, scott, with the s&p basically flat, you know, that is an underperformance for einhorn. for lobe, a decent beat. >> you want to weigh in on what you see? you're in this space every day. >> yes. and we're getting some of our numbers in, still really early. green light puts them out like at 401. >> right. and lobe too. >> and lobe too. which means

we talk about david einhorn bill ackman, and carl icahn more than anyone else.changing, but it is the myopia of the political structure in our country. everyone lives for today. no one wants to look 5-10 years down the road. until that changes i sure don't see how it is going to change anytime soon you are probably right. stephanie: he is so smart, betty liu, that stan druckenmiller. betty: great interview. stephanie: thank you. betty: what else is he like? stephanie: extraordinary track record. even though he is very negative long-term and is really worried about interest rates being low he is making a ton of dough. he likes equities, telecoms airbus in europe. he is positive about japanese equities and his bullish about the chinese economy. i pushed him on the property situation in china. he said look at the chinese economy. it is only growing, only getting bigger, only getting better. he is really positive. betty: even at 7% growth. stephanie: he is most concerned about the u.s. and interest rates. get on it. i will have the whole interview on "market makers.

david einhorn says it rely capital took new positions and chicago bridge and iron company, general motors and air cap. the firm exited short bet against a play and safeway semiconductors. less than an hour until the close of trading. right to the breaking news desk where scarlet fu is looking at the action. it is like a whiplash from friday. >> 214 point rebound from 280 point find friday. the dow and s&p 500, the best day in a month. the nasdaq gaining the most with an advance of 1.25%. china helped to cause the globally -- global equity selloff friday. over the weekend in removing some of the sting from the decision by cutting the amount of cash thanks need to cut aside -- set aside from the reserve. the fx side recovering a bit from the 4.2 percent drop friday. shanghai stocks did not get much of a list. they close down trimming the year to date gain from 30%. i know you will be discussing greece shortly so i wanted to give you a snapshot. john 1% before the meeting. that will determine when they will pay the bill and pay the workers. the euro ending at 40 rally that took it from 105 t

making news right now, athena health is seeing a big spike among bloomberg terminal users, after david einhornsome comments, reiterating his short position on a athena health with provides online services. last may, he said the stock could fall as much as 80% from its $105 level because the stock was too expensive. you can see trading above that level right now. einhorn says the bear case is still $14 a share. fidelity and guaranty life ftl, is soaring by 11%. they were previously controlled by phil falcone. railing the most after hrg group says it may sell the company. hrg says it may divest its entire 81% stake or even a portion of the holdings. that is also getting a big lift. stephanie: remember johnny bush the ceo of athena health? that guy can only be described as another level. erik: a unicorn. keeping the's hotel music festivals. we will talk to the guy behind the summers warped tour. ♪ stephanie: welcome back to "market makers." he helped to found katy perry, no doubt, and eminem, and now his company is kicking off the warped tour festival, the largest touring festival in the country.

david einhorn of greenhorn capital says he thinks that she is really worried about the lack of earnings stocks are right. tom: mr. belson is pushing against mr. einhorn. olivia: really? of all sectors, tech companies get the most of the revenue overseas. tom: let's go to our twitter question and answers. olivia, you have that? olivia: i do. a great question today -- what have you learned from jack welch? here are some of the answers -- authenticity. jack will remember names and family details of employees that he has not seen in a year. tom: ok. do you have that skill? brendan: no. not in any ways. bill clinton had that skill. olivia: i have a post it on my computer of brendan's children's names of sagan answered us lesson learned, leadership is about imagination, creativity, and improvisation. i love this quote -- if you do not have a competitive advantage , do not -- -- do not compete. tom: that is a very good quote. we will continue on bloomberg radio, bloomberg television, "in the loop" next. stay with us. ♪ betty: good morning. it is tuesday, april 21. you are in the loop and i am

in europe you're looking at a higher capital rating on cash than you are on sovereign debt as david einhornown bonds. now the anointed safe asset, it's a matter of price and value. in 2005 and '06, everybody loaded up on securityized mortgage structure. that was the asset of the cycle. now it's sovereign debt yielding just about nothing. we can't act surprised if it doesn't work out. >> understood. let me ask you real quickly, ben bernanke joining an advisory role at pimco. what do you think of his post-fed moves? >> the proof that our federal mandarins have way too much power over the lives of people in finance, they are asked to serve high-level salesmen when they get out. >> jim grant putting it in very few words for us. >>> we have breaking news on apple, we understand. >> what we have here is a dow jones industrial average report saying that apple found defects in certain key components of the apple watch that just got released. the story goes on to see a key component of the apple watch was found to be defective which prompted apple to limit availability of the highly anticipated prod

hedge fund manager david einhorn reiterated his short position on the stock. he originally announced a short position last year at the investment conference. those shares you can see down by 5% kelly, bill so far today. back over to you. >> thank you for now. for more on the markets and if the s&p 500 could possibly hit 3,000 within the next five years. >> did you say that? let's bring in adam parker morgan stanley's managing director joining us at post 9. welcome back. >> thanks for having me. >> what did you say, 3,000 -- >> about a year ago what we were getting a lot of questions about was the market is up five years and is it over? i thought it was astrological. you have to have some reason that's going to cause the market to decline. we collaborated with our economics team and it has to be the economy rolls over corporate arrogance grows, put costs in place that aren't merited or the credit cycle deteriorates. we kind of think we could be in the middle of a long expansion. >> it's already been a long expansion. >> it has. >> 2020 would that be the longest

david einhorn's green light capital has taken a new stake in general motors. the hedge fund sold off a position in the auto maker nearly a year ago. the gm put ignition switch recall issues behind it. it also expects them to begin the $5 billion greenlight buy back soon. einhorn says it's tougher to find good long positions because valuations are on the high side and earnings are in a precarious spot. >> a new warning from mark mobius this morning. >> right now we're seeing emerging markets outperforming the u.s. and the world. since the begin ofg the year we've seen theoutperformance. now is the time to shift out of the u.s. >> corporate earnings are poised to disappoint. switched to a u.s. recovery at early stage and government regulation. he favors emerging markets over most u.s. investments. not sure that's the most original thought from a lot of guests we've had on this show. we're sitting there saying ems and europe and out of the u.s. that seems to be a theme pretty prevalent out there. >> it's one he has been focused on for awhile. but we have heard th