Hedge-fund manager David Einhorn said General Motors Co. and Marvell Technology Group Ltd. are poised to rebound after declining since March 31.

“There is further embedded value in some of the longs that have underperformed in the quarter, including General Motors and Marvell Technology,” Einhorn said in a conference call discussing investments at Greenlight Capital Re Ltd., the Cayman Islands-based reinsurer where he is chairman.

“Both companies trade at mid-single digit PEs of current earnings and have strong cash positions,” he said, referring to the ratio of price to earnings.