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Einhorn Sells Yahoo, Microsoft Shares While Buying Expedia

May 15 (Bloomberg) -- Greenlight Capital Inc., the hedge-fund manager run by David Einhorn, exited its stake in Yahoo! Inc. during the first quarter while opening new positions in Computer Sciences Corp. and Expedia Inc.

The New York-based fund also sold 7.68 million Microsoft Corp. shares, cutting its stake to 7.49 million, according to a filing today with the Securities and Exchange Commission. The stock has surged 25 percent since May 25, 2011, when Einhorn called for Microsoft’s board to replace Chief Executive Officer Steve Ballmer.

Greenlight sold 3.02 million Yahoo shares during the first quarter, according to the filing. Chief Executive Officer Scott Thompson resigned this week after failing to correct errors in his credentials.

Einhorn’s firm purchased 2.4 million Computer Sciences shares during the first quarter, 1 million Expedia shares and almost 562,000 shares of grocery-store chain Roundy’s Inc. The fund didn’t own shares of those companies at the end of the fourth quarter, according to a filing in February.

To contact the reporter on this story: Nick Baker in New York at nbaker7@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net

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