David Einhorn, president of Greenlight Capital Inc. Photographer: Peter Foley/Bloomberg

David Einhorn, president of Greenlight Capital Inc. Photographer: Peter Foley/Bloomberg

Bloomberg News

Martin Marietta Falls After Einhorn Criticism

By Joshua Fineman and Thomas Black
May 16, 2012

Martin Marietta Materials Inc. fell the most in more than three years, triggering a circuit breaker that halted trading, after Greenlight Capital co-founder David Einhorn said the sand-and-gravel producer had problems.

“Recent earnings benefited from one time fiscal stimulus that is about to wind down,” Einhorn said at a conference in New York.

Martin Marietta slid 6.6 percent to $69.76 at 3:47 p.m. in New York, after plunging as much as 15 percent for the steepest intraday decline since November 2008.

Vulcan Materials Co. (VMC), the target of a failed hostile takeover by Martin Marietta, also tumbled, dropping 9.1 percent to $34.88.

To contact the reporter on this story: Joshua Fineman in New York at jfineman@bloomberg.net

To contact the editor responsible for this story: Ed Dufner at edufner@bloomberg.net

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