david einhorn, noted short seller, had been betting against the company.ble short of 2012. they closed out their short. in other words, they're not betting against this stock anymore. in the letter i'm reading now, david einhorn calling the ceo highly promotional, and that the promises have been overhyped. so taking a jab at the company there. it's come down off the highs of the day, still up more than 2%. >>> is apple's white the new stainless steel when it comes to hows? we'll talk about things can you do to add value to the house. the great guys from flipping will join us. ever ybody has different investment objectives, ever ideas, goals, appetite for risk. you can't say 'one size fits all'. it doesn't. that's crazy. we're all totally different. ishares core. etf building blocks for your personalized portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includes investment objectives, risks, charges and expenses. read and consider it carefully befo

you saw the spike midday and when david einhorn said we're done.ompany made a lot of money last year. this year it is down 16%. finally, said we're out. [closing bell ringing] david: when even einhorn gives up on the shorts you know the market is serious about growing more. the bells are ringing. today, probably more, sometimes even when the market is not exploding into positive direction, even if the dow end up closing negative, although it is 1.3 to the positive it is an extraordinarily good sign with all the negatives, look at stocks like crocs, look at amazon, which reported bad figures, still these stocks are growing. it shows the staying power of this rally in this, in this market at this time even with a slow economy. all of the indices except the russell 2000, small and mid-sized caps, not getting a break today, down half of a percentage point. liz: not bad. the nasdaq move to the upside first of the here is what is coming up. a look at your front page headlines. sac capital as an entity pleaded not

. >> einhorn basically said in 2006 we compared microsoft to a-rod, which was a favorable -- it was aompliment. now we still do but it's not quite a compliment. it's interesting when you see einhorn who tends to be very patient, not throw in the towel because he did make money, but walk away without a big gain, clearly not the big payoff that he would have expected in '06. i would be really concerned as a microsoft long if he's throwing in the towel after seven years. the company -- forget not growing, the company is actually shrinking. >> but he got what he wanted in the last two months. >> value act capital came in. maybe took some of those shares off his hands without them realizing it. but nobody could argue that they've solved any of the issues they had in '06. >> he probably sold a pretty decent time concerning microsoft's record hire. >> on the flip side, though, is this a sign that the trouble is over for jcpenney? got to go to the jcpenney side of this. >> we started to shevell thlve r a while. there are clearly still issues. >> finally, tesla, we may have been a little early

david einhorn, in the offshore gold fund, his gold fund has lost 20% of the value this year.hris paul is single-handedly revise the franchise bng rewarded with a five-year $137 million contract. that is s why is smiling. i would be smiling even bigger than that. i mes deciding what to do with health care, president is hoping they are because the white house is recruiting professionally long with librarians and stents to sell you obamacare. hard to believe it has gotten to this point. jim. >> that it's right, they have launched a full-court press seeking help from any and any one to promote the health care law. they agreed to help the ministration inform people about the options. listen. >> libraries are where everyone goes to ask questions and get answers. >> libraries have become the hub for people who want information about the affordable care act. >> also looking to get sports leagues like nhl and madeley baseball to join the campaign, but that went nowhere. they're better off focusing on team loyalties rather than political loyalties with the new lot remaining so unpopula

i know, einhorn says little details. how did you know?akeover bid from larger rival amgen. onyx says the bid undervalues the company and there have been other quote expressions of interest end quote about the possible seam. do you have any thoughts on this? >> the $10 million is fully diluted. they have all the stock position, everything else, it's exciting for cancer drug, that's what the front of the tier is. it's taken a while. it's spring loaded. you heard some projection, we should be able to do some damage to that disease over the next twevent years, hopefully. >> it may be a busy day for da that. the ism manufacturing report the first report we get of the month. it will have the latest hispanic figures. tomorrow factory sales wednesday, adp a private payroll 8:15 eastern. plus the jobless report and trade data wednesday with the markets closed thursday. friday the main event the june employment released 8:30 a.m. eastern time and protests in egypt. hundreds of thousand, i actually read millions, we're going with hundreds of thousan

they're joining a relatively small stage here in the sense that david einhorns fund has been public. few of them are trading through ipos so far. this will be an exception and it may give us added transparency onto the third point results. third point essentially has a contractual right to manage all the assets that this reassurance arm has. as a result there will be reports on how third point is doing through these earnings calls. >> could the reassurance arm be a proxy for third point at all in terms of its returns? >> it will give us a little bit of color as to how some of the key third point investments are doing. however, it's obviously a totally different business model so the nature of the insurance and reassurance in which they're engaged will differ from what dan lobe is doing in terms of macro investing. because of the crossover i do think we'll get added information about each piece when the reassurance arm is reporting, for example. >> kate thank you very much for that news. kate kelly joining us from new york city. we'll hear more from dan lobe on wednesday, programming

we're going to ask him whether he's got a message for david einhorn, the famed short seller and hedgeund guy after he thought taco bell would eat chipotle's lunch. certainly wrong about that. chipotle's had a struggle, but, boy, did they come back fighting this quarter. >>> they are the masters of business, we decided to do a weeklong series starting today bringing in the leaders of the nation's top business schools, top mba programs, find out if it's worth it. what qualities mba grads must have to succeed in today's highly competitive job market. what does the job market look like? how is each one of these top schools different? and, plus, we're getting the satisfaction at the age of 69, why it should have been a golden year for the rolling stones' mick jagger, and we're not just talking about music. ♪ ♪ [ male announcer ] the mercedes-benz summer event is here. now get the unmistakable thrill... and the incredible rush... of the mercedes-benz you've always wanted. ♪ but you better get here fast... [ girl ] yay, daddy's here. here you go, honey. thank you. [ male announcer ] because

[closing bell ringing] david: when even einhorn gives up on the shorts you know the market is serious about growing more. the bells are ringing. today, probably more, sometimes even when the market is not exploding into positive direction, even if the dow end up closing negative, although it is 1.3 to the positive it is an extraordinarily good sign with all the negatives, look at stocks like crocs, look at amazon, which reported bad figures, still these stocks are growing. it shows the staying power of this rally in this, in this market at this time even with a slow economy. all of the indices except the russell 2000, small and mid-sized caps, not getting a break today, down half of a percentage point. liz: not bad. the nasdaq move to the upside first of the here is what is coming up. a look at your front page headlines. sac capital as an entity pleaded not guilty to charges made by federal prosecutors that the firm engaged in widespread insider trading more than a decade. sac spokesman said the firm never encouraged promoted or tolerated insider trading. david: here is good news agai

charles: speaking of spacey, i wanted to talk about this because last year david einhorn, the hedge fundager but our list of stocks he thought too short, and included was tripled the mexican grill. i thought it was not. i like the stock at the time, he thought taco bell was eating their lunch. talk about the chart. one of these brilliant guys who knows everything. every time he speaks there is a knee-jerk reaction obviously goes his way. the stock went down by octobe october 23 to something like $236 per share. now we're looking at the $400 mark, all-time highs 444. one of the spots was designing and restaurant space. as people tighten their belt, certain areas they choose. with respect to the market, even when we are having a bull market or a rally, pick the companies that are winning. this company is winning. everything across the board. operating margins increase, everything you want in a stock we saw in this. dagen: charles coming into my morning on the fox news channel on "cavuto." connell: sweltering temperatures could translate into green for business. dagen: and fracking impact o

reports now say david einhorn show gold fund has been getting pummeled because of the drop in the preciousnearly 12% in june. losses totaled 20% year to date. the gold fund had $920 million under management and 266 investors as of march. it offers a gold denominated share class which gives investors exposure through the investments and then reprices them in gold as opposed to u.s. dollars. steven, gold -- when gold was on the way up, everybody used to argue it benefited from everything. it benefited from deflation, inflation, it benefited from the weakness of the u.s. dollar. now there seems to be no argument for it. >> yes. during a ten-year bull market, you know, you find precious few reasons for setbacks. but the reality is, it's a risky asset like a currency. and we're not terribly comfortable with gold in a period of rising real interest rates and stronger trend growth assumptions for the u.s. economy. and just to be clear here, we think that the u.s. economy's recovery is very far from over. it's still much closer to a trough. even though profits are very high, we've had about 3% emp

penney today because hedge fund manager david einhorn, we all has said his name in some way shape orthe letter today that talks about the long positions and microsoft. more importantly j.c. penney and that was there best short of 2012. j.c. penney came out with this whole strategy. they didn't believe in it at all. a green light short j.c. penney betting that it would go to the downside. everyone knows it was a real -- it was down over 40 percent. today right now it's up to%. take a look. we have it here. it certainly is worth noting that the most profitable short of 2012. there are also long gone microsoft. apple, and general motors, no comment on their gold position. the obvious a huge roar. bragging about it. tracy: then made money. thank you very much. [laughter] ashley: well this week we have been reporting america's tailbone -- michele boone. today to energy insiders are here with more on the seismic shift taking place in the energy sector. managing director of research it cleared the energy partners. a former shell oil president, now with citizens for affordable energy. thank

i wonder what, people that got in a year ago, einhorn, what were they, were they still thinking it wases globally? >> that was what he said at the time. remember he wrote that whole thing. >> i would have thought what ran us up from 300 to 1,900 was we knew that a lot of the private debt was going to be taken on. the financial crisis, it was going to be taken on by, you know, public entities, therefore, you had to prin to the pay for all of that? that would make sense, but we didn't see what the worst case scenarios were saying. would be a collapse of all currencies, we didn't see. that argument would have paid sense to me perhaps if 2008, 2009, 2010, 2011, 2012. >> that's why it ran it? >> certainly, that was a motivating factor. but i think the real acceleration came in 2011 when a lot of those fear, at least in some corners, subsided. >> what about different cull cures that valued gold and jewelry. there is not enough without making more of it. do you have to think about that, wedding season in india, something like that? >> well, basically, no. you don't see, there was a time, mayb

. >> what's popping on the screen, jcpenney, up, in a flattish tape, after einhorn discloses on fridayon is closed. >> look, jcpenney, again, i -- mike olman came in, calming people down. jones, that's been up. rumor that jones is for sale. pvh, the stock roaring here. under armor, a fabulous quarter. apparel companies are doing well. how badly retail is doing if apparel companies are doing as well as they say. >> we'll get chain store sales this week. >> another thing we've got to worry about. >> let's get to bob pisani on the floor, see what else is moving. >> good morning. talking to john renn, maurice levy, omnicom/publicis. i'm amazed they have pulled off a deal this complicated. impressive. get more for you in a few minutes when they talk to david. big week for macro this week. expecting 1%. july nonfarm payroll. people are talking about this morning the dollar weakness, one-month low against the dollar. i think that's a little bit of an issue here for the a lot of traders. of course everyone believes bernanke's going to continue the dovish tone on wednesday. he's not go doing an

stocks or companies, there is a way these guys, like if you really -- like chinos or something, or einhornsually, you look at all the inner workings, if you can believe the number, there is a way to figure out things. with gold, how to you ever -- it is all emotions. >> let's go across the pond. time for the global markets report. ross westgate standing by in london this morning. ross? >> good to see you. thanks for that. we are weighted to the downside h pretty good gains yesterday for the ftse up about 1%. you can see decliners outpacing advancers at the moment by about 8 points or 7-2. showing you where we stand now, not big losses really. ftse 100 down a third. the xetra dax down a quarter. s&p downgrading italy to just two notches above junk. there is one standout today, burberry, the fashion chain up 3.6%, 18% increase in sales, blew past expectations, particularly doing very well and then spring and summer collection in china. also maintained their full year. that's the standout today. because of that italy downgrade, we also have banks weaker. one thing to look at here is basic res