Michael Kors Stock Unchanged In Early Trading Despite New Greenlight Stake

Shares of fashion brand Michael Kors Holdings rose about 1% in early trading despite news that David Einhorn's Greenlight Capital has taken a position in the company. In a letter to investors published on Wednesday, Greenlight said it had also taken a long position in UIL Holding Corp. , an electric and natural gas delivery company. and a short position in Keurig Green Mountain Inc. , among other fresh stakes. Michael Kors is down 46.8% for the year so far. Greenlight Capital is down 25% for the same period. The S&P is down 1% for the year-to-date.