Reuters: Global Markets: Herbalife jumps after Einhorn silent on stock

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Herbalife jumps after Einhorn silent on stock May 16th 2012, 20:37 Wed May 16, 2012 4:37pm EDT (Reuters) - Shares of nutritional supplements marketer Herbalife Ltd (HLF.N) rose more than 16 percent after hedge fund manager and famous short seller David Einhorn did not present the stock as one of his short ideas at a conference. Herbalife stock fell 20 percent on May 1 after Greenlight Capital's Einhorn showed up on the company's conference call and asked questions about its business model and distributor groups. The company later revealed details of its distribution groups in a securities filing in response to Einhorn's main line of questioning, but that failed to arrest the stock fall. Einhorn did not make any specific allegations or critical comments during Herbalife's post-earnings conference call, but his presence raised the possibility that he is betting against the company. However, contrary to chatter among some traders, Einhorn on Wednesday did not present the stock as one of his short ideas at the Sohn Investment Conference in New York, which features some of the hedge fund industry's best-known managers, including Einhorn, John Paulson and Bill Ackman. Once a year, these and other top hedge managers get together at a charitable event to raise money for pediatric cancer research, by sharing their "best ideas" with hundreds of wealthy investors who pay thousands of dollars to rub shoulders with them. It is unclear whether Einhorn has any position in the stock or not. Einhorn could not be immediately reached for comment. Herbalife shares closed at $49.51 on Wednesday on the New York Stock Exchange. (Reporting by Mihir Dalal in Bangalore; Editing by Maju Samuel) Link this Share this Digg this Email Reprints

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