David Einhorn, Jeff Gundlach and other prominent hedge fund managers took centre stage at New York's Lincoln Center for the Performing Arts to share their investment ideas—and investors wasted little time acting on what they said.

Speaking at the annual Ira Sohn Investment Conference, Greenlight Capital's Einhorn presented the case against shares of Martin Marietta Materials, while leaving alone another stock that had appeared on the hedge fund manager's radar, Herbalife. Shares of each company rocketed in opposite directions.