Ira Sohn Conference Live Blog: Movers, Shakers, Hedgie Comments

The Ira Sohn conference -- one of the world's biggest investing conferences -- is happening now. As expected, stocks have already begun to move.

03:04:44pm: Next, talking Tinder.

#sohn2015 talks up #tinder in $iaci long pitch!

— John Jannarone (@jannarone) May 4, 2015

"Online dating is brining liquidity to the market" $IACI has near monopoly. #sohn2015 contest winner spends a lot of time on @Tinder

— Aaron Task (@aarontask) May 4, 2015

"Tinder is the game of numbers." #Sohn2015

— Carleton English (@carletonenglish) May 4, 2015

"Online dating is bringing liquidity to the market" #Sohn2015 investment idea contest winner: Tinder valuation: "swipe right on $IACI"

— Ellie Ismailidou (@EllieIsma) May 4, 2015

02:55:11pm: Lone Pine still talking Microsoft:

Gaonkar's $MSFT thesis: -New strong mgmt -Solid rev growth -Operating cost cuts -Capital return #Sohn2015

— Adam Samson (@adamsamson) May 4, 2015

#lemonwaterfund MT "@carletonenglish: TIL: $MSFT is a "juicy lemon" #Sohn2015"

— SKIRT (@talktoskirt) May 4, 2015

Mala Gaonkar of Lone Pine Capital argues @Microsoft has a bright future ahead, led by its CEO Satya Nadella #Sohn2015

— Patrick Gillespie (@Pat_Gillespie) May 4, 2015

02:43:17pm: Lone Pine Capital's Mala Gaonkar up next. Says they like Microsoft Corporation MSFT.

Gaonkar's $MSFT thesis: -New strong mgmt -Solid rev growth -Operating cost cuts -Capital return #Sohn2015

— Adam Samson (@adamsamson) May 4, 2015

02:40:18pm: AbbVie, Brookdale volatile after mentions.

02:30:11pm: Robbins says Brookdale could be sold to a REIT; has many options.

02:22:15pm: Robbins discusses long theses on AbbVie Inc ABBV, Brookdale Senior Living, Inc. BKD. Shares spiking off mention.

Larry Robbins: Making a generic/"biosimilar" Humira is hard - will protect AbbVie when patent runs out #sohn2015 $ABBV

— Lawrence Delevingne (@ldelevingne) May 4, 2015

$ABBV pipeline is "underappreciated," says Robbins. My team is excited about some of the things in Phase II and Phase III #Sohn2015

— Kate Kelly (@KateKellyCNBC) May 4, 2015

02:15:11pm: Larry Robbins takes stage.

02:12:12pm: Price update: Gulf Coast Ultra Deep Royalty Trust - Royalty Trust Unit GULTU up nearly 16 percent after Cooperman mentions small-cap as one of his best ideas. Shares now trade at $0.88.

02:05:00pm: Brief break, then Robbins, Jeffrey Gundlach up next.

01:50:00pm: Glenview Capital's Larry Robbins up next. Cooperman top picks also include Dow Chemical Co DOW and General Motors Company GM.

01:44:04pm: Cooperman says he likes Actavis plc ACT, AerCap Holdings N.V. AER, Citigroup Inc C, Google Inc GOOG and Priceline Group Inc PCLN.

1:35:23pm: From Cooperman's slideshow on the "underpinnings to a long-lasting U.S. equity bull market."

• "Long-lasting and self sustaining U.S. economic expansion which should also be broad based, low in volatility, and "sweet spot" in growth."
• "U.S. earnings and dividend growth of 5% to 7% per year over the coming several years."
• "Long-lasting friendliness Federal Reserve gradual tightening beginning in second half of 2015."
• "Continued monetary friendliness from the ECB/BOJ/OBOC/Global liquidity glut."
• "Low, though gradually rising, sovereign bond yields.
• "Modestly accelerating GDP growth in the Euro zone and Japan, a moderate slowing in China's growth rate, foreign macro landscape a tailwind to U.S. shares."
• ""Okay" absolute U.S. share valuation/market extended on selected metrics."
• "No alternative to equities from fixed income markets."
• "Asset allocations should shift to equities."
• "U.S. equity market very good valuation relative to bond interest rates and inflation."

1:29:59pm: Omega Advisors' Leon Cooperman takes the stage, says equity markets will finish 2015 higher than they are today. He does, however, say that a "hostile Fed" is a risk to stocks.

Leon Cooperman: "buying bonds is like walking in front of a steamroller to pick up a dime" #Sohn2015 #bonds

— Morgan M. Davis (@MorgyMDavis) May 4, 2015

Cooperman: "bear markets do not occur out of immaculate conception" $SPY #Sohn2015

— Aaron Task (@aarontask) May 4, 2015

1:25:15pm: Walker finishes presentation on social media. Twitter summed it up quite nicely.

Jay Walker: Bioterror + Drones x Social Media = economic meltdown #Sohn2015

— Downtown Josh Brown (@ReformedBroker) May 4, 2015

"Governments are not in a good position to counter panic." -- Jay Walker #Sohn2015

— Carleton English (@carletonenglish) May 4, 2015

Private sector has to step up. Create believable, shareable info, Walker says. #Sohn2015

— William Watts (@wlwatts) May 4, 2015

Ok Jay Walker is giving the most terrifying presentation I've seen at a hedge fund conference. Luckily I'm here with 2,000 dads. #sohn2015

— Linette Lopez (@lopezlinette) May 4, 2015

1:09:13pm: Patent Properties' Jay Walker up next.

Jay Walker, founder of http://t.co/DiaDC2we3x up next #Sohn2015

— Chris Ciaccia (@Chris_Ciaccia) May 4, 2015

1:06:54pm: Meister says company should spin off its China unit, says it could boost shares by $16. Yum moving lower on comments.

1:03:44pm: Meister still talking Yum.

Activist investor Keith Meister thinks $YUM stock is a steal. "They will recover." But admits there's big challenges. #Sohn2015

— Patrick Gillespie (@Pat_Gillespie) May 4, 2015

"We're buying $YUM at less than 14X. We think that's quite attractive." -- Meister $YUM #Sohn2015

— Carleton English (@carletonenglish) May 4, 2015

12:54:55pm: Corvex's Keith Meister now on; talking Yum! Brands, Inc. YUM.

Meister sees first mover advantage for Yum in China #Sohn2015

— William Watts (@wlwatts) May 4, 2015

Meister looks to China in $YUM investment. #Sohn2015

— Carleton English (@carletonenglish) May 4, 2015

12:50:55pm: CSX continues even lower off Ackman mention; now down 3.6 percent.

12:40:17pm: Rosenstein says he is long QUALCOMM, Inc. QCOM; shares up nearly 1 percent.

Jana's Rosenstein uses #Sohn2015 stage to reiterate demands for shake-up at Qualcomm $QCOM http://t.co/5RwACTvaID

— Stephen Foley (@stephenfoley) May 4, 2015

12:39:13pm: Ackman says he will not talk about CSX Corporation CSX at Ira Sohn; shares dip 2 percent.

12:38:59pm: Zoetis Inc ZTS moving, as Bill Ackman talks about the stock with Wapner and Brown.

12:36:43pm: Shares of Walgreens Boots Alliance Inc WBA moving up, as JANA's Barry Rosenstein discusses stock.

#sohn2015 Barry Rosenstein of JAVA Partners talks "power of bringing shareholder mindset into the boardroom"

— James Passeri (@JamesPasseri) May 4, 2015

12:33:07pm: Bill Ackman Currently Speaking wit

Barry Rosenstein of JANA: I don't like a lot of activism coverage - don't just focus on immediate stock move. #sohn2015

— Lawrence Delevingne (@ldelevingne) May 4, 2015

h CNBC's Scott Wapner and Josh Brown: Says he is 100% confident in Herbalife Ltd. HLF short thesis. Stock does not move on news.

 

12:26:17pm:

Einhorn: "the company's equity has nothing more than option value" on $PXD #SOHN2015

— Vonnie Quinn (@VonnieQuinn) May 4, 2015

12:24:29pm:

David Einhorn shorting "mother fracker" Pioneer Natural Resources $PXD & other oil frackers Concho $CXO Whiting $WHT $CLR and $EOG #Sohn2015

— Jen Wieczner (@jenwieczner) May 4, 2015

12:22:23pm: Pioneer Natural down 2.4 percent after Einhorn comments, Whiting Petroleum Corp WLL, Concho Resources Inc CXO, Continental Resources, Inc. CLR all falling as well.

12:11:11pm:

LIVE now: David Einhorn slams frackers, reveals best idea at #Sohn2015 » http://t.co/KXWKKJWPIi pic.twitter.com/gPOsldRBHI

— CNBC Now (@CNBCnow) May 4, 2015

12:08:29pm: David Einhorn now discussing Pioneer Natural Resources PXD, hedge fund manager says "earns a positive margin but is not a positive value."

12:08:29pm: Greenlight's David Einhorn currently speaking at conference; being broadcast on CNBC, Bloomberg