HEDGE fund Greenlight Capital said on Friday that it had added a stake in Toshiba Corp as it expects the stock to rise once the Japanese company resolves uncertainties around its bankrupt Westinghouse unit and the sale of its memory business. Toshiba sold the unit to help cover losses from Westinghouse’s nuclear reactor business. The hedge fund said companies among its long stock holdings exceeded expectations, while short positions mostly disappointed, leading to losses during the quarter. Greenlight’s five largest equity longs include Bayer AG , AerCap Holdings NV, Consol Energy Inc , General Motors Co and Mylan NV. Also, the hedge fund said it exited a large number of positions, including long positions in Altice NV, InterActive Corp, Liberty Global Plc and Time Warner Inc.Short position exits included Mallinckrodt Plc and the credit-rating agencies, the hedge fund said.

Source: New Strait Times July 15, 2017 01:52 UTC