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A Top Hedge Fund manager says theres a clear consensus that we are in a tech bubble. In his letter to clients, David Einhorn says companies he is betting against may fall at least 90 if and when the market applies traditional valuation. He writes certain cool kid companies and analysts are pretending that compensation paid in equity isnt an expense because it is noncash. At ts profit dropped slightly in the first quarter. Revenue was up 4 thanks to a growing wireless business. The company added 625,000 monthly subscribers, up from 296,000 from a year ago. At ts next program which allows customers to make Monthly Payments on phones rather than signing contracts allows the company to pay less in subsidies. Amazon is apparently taking a sales hit in states that collect online sales tax. Researchers at ohio state say househ ....
Keith colbrunn has braved the elements and battled the seas and is here to tell us about the new season of deadliest catch. All that and more coming up on street smart. Now to the big three stocks to watch in the close. Head out to julie hyman who has what we should be keeping an eye on at this hour. In the past couple hours we got the latest letter from David Einhorn of Green Light Capital and talked about some of his recent investles. One of them is sundesin. This is Solar Developer and green light said it took a large stake in the company and einhorn sited the declining price for solar is lest comesly and rising prices is one reason sunedison will be a leader. Theyre buying the stock, over 10 today. Matt mentioned the phrma deals were hearing about. One of them today is a bid for allergan coming from valiant phar ....
Interview. Qwest good morning. I am erik schatzker. Qwest i am stephanie ruhle. A lot of news this morning. There is also breaking news in the housing market. Economistsless than expected. The negative news turns out to be a positive area lets bring in Michael Mckee in the headlines. Class i am not sure this is as positive as the spin could be. Youre right that the forecast is for one percent and home sales fell by two senate 2 10 of one percent. This is margin were supposed to see housing pickup. This is not necessarily great news. Homes unchanged. You coulds good news, say it is the supply coming online. Ordinarily, that would not be great news. Is suppliesseeing shortages. It is better we have homes for sale. Ok. I want you to stick around and bring in a special guest. How concerned are you that people are not feeling very good about this in the start of spring. They do not like these numbers. As i do not know if this is good ne ....