Chipotle Plummets After Einhorn’s Analysis and 4 Movers to Note
Sprint Nextel Corporation’s (NYSE:S) most recent Android Jelly Bean ROM was seen on the forum of XDA Developers which appeared to include TouchWhiz skin by Samsung. Some members posted on the forum that applications keep crashing. Android 4.1 Jelly Bean provides improved search capability along with a smoother and consistent user interface and a voice search experience that is said to compete with Apple’s Siri. Users should keep in mind the losses they can make if they attempt to install this unofficial ROM on their favorite Galaxy S3 as warranty on the smartphone becomes null and void.
Chipotle Mexican Grill (NYSE:CMG) is the company most severely affected by Einhorn’s analysis thus far. Shares plunged around the same time that Einhorn announced it as a short. Trading began Tuesday at $319 and fell to $290 minutes following Einhorn’s take being reported. This marks an 8 percent slide from the last closing price of $316. It’s thought that Einhorn dislikes the company due to its inability to rival Taco Bell, which is a better favorite of customers surveyed in Greenlight’s research.
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J.C. Penney & Co. (NYSE:JCP) may still have a champion in Pershing Square Capital’s Bill Ackman, who said at Tuesday’s Value Investing Conference that he isn’t ready to give up on the historic retailer. However, he does admit that there’s a lot of skepticism concerning J.C. Penney’s turnaround strategy, but he stands behind Chief Executive Ron Johnson.
Corning’s (NYSE:GLW) Telecommunications segment, Corning MobileAccess, has recently been ranked the number one distributed antenna systems supplier in ABI Research’s Competitive Assessment report for the in-building wireless market.
Sina Corporation (NASDAQ:SINA) is an online media company which provides mobile value added services in China, which has the most stringent internet censorship laws, as it has blocked more than 2,000 websites. The government’s ban seems to be designed to allow more latitude for Chinese internet companies such as Bidu, Sina, Sohu and Yoku by placing curbs on some of the more popular social networking sites such as Facebook and Twitter. Sina provides services primarily through Weibo.com (microblog), Sina.com (online news and content), and Sina Mobile (MVAS). The company’s top line has historically posted a double digit growth rate, but with increasing worries about the economic slowdown in China, along with stringent government regulations for internet companies, observers wonder if Sina will be able to continue the robust growth rate in the future.