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Carl Icahn

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ENTERTAINMENT
November 1, 2012 | By Dawn C. Chmielewski
Carl Icahn has amassed a nearly 10% stake in Netflix Inc., boosting the sagging stock of the subscription video service but also making some wary that the activist investor will make waves for management. The billionaire has quietly acquired about 5.5 million shares since early September, buying stock at an average price of $58 a share - well off its peak of $298.73 in July 2011. The opportunistic Icahn said the company's stock is undervalued, given its influential role in technological changes that are revolutionizing how consumers watch movies and television shows.
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BUSINESS
April 10, 2014 | By Ricardo Lopez
The fight between activist investor Carl Icahn and eBay Inc. has been settled as the two sides have quietly reached a truce, Ebay said Thursday. The two had been embroiled in a public spat over accusations by Icahn that two members of eBay's  board of directors had conflicts of interest and that the company had failed to get the full value for Skype, a video chat service, when it was sold.  Icahn also urged eBay to sell a minority stake in...
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ENTERTAINMENT
October 22, 2013 | By Dawn C. Chmielewski, This post has been corrected, as indicated below.
Activist investor Carl Icahn said he sold nearly 3 million shares in Netflix, noting he reaped a substantial windfall from his investment in the online video service. Icahn said he decided it was time to cash out, after the rapid appreciation of the company's stock, which rose to $323 a share, from his initial investment of $58 a share. "As a veteran of seven bear markets, I have learned that when you are lucky and/or smart enough to have made a total return of 457% in only 14 months, it is time to take some chips off the table," Icahn said in a statement.
BUSINESS
February 7, 2014 | By Chris O'Brien
Chief Executive Tim Cook said Apple Inc. repurchased $14 billion of its stock over the last two weeks after a weak outlook caused its share price to plunge. In an interview with the Wall Street Journal, Cook said he was "surprised" by the 8% drop one day after the company's first-quarter earnings report. Apple projections for sales in the quarter ending in March were below what analysts had expected, and perhaps signaling its first year-over-year decline in revenue in more than a decade.
ENTERTAINMENT
November 5, 2012 | By Dawn C. Chmielewski
Within hours of Netflix Inc. announcing that it had adopted a "poison pill" measure to block a hostile takeover, activist investor Carl Icahn responded with a broadside calling the move "an example of poor corporate governance. " Icahn called Netflix's plan -- which would trigger whenever an individual or group tried to buy 10% or more of the company -- "particularly troubling" because of its "low and discriminatory" threshold.  The billionaire disclosed on Oct. 31 that he had taken a 10% stake in the video subscription company, through stock and options.  "As one of the company's largest shareholders we are concerned about the poor corporate governance at Netflix that these and other actions reflect," Icahn said in a statement filed Monday with the Securities and Exchange Commission.
ENTERTAINMENT
July 31, 2012 | By Ben Fritz
Carl Icahn, who only a year ago hoped to combine two studios and create an entertainment empire, has retreated from Hollywood by selling his stake in Metro-Goldwyn-Mayer. The billionaire investor has quietly sold his approximately 25% stake in MGM, the 88-year-old studio behind the James Bond series and the upcoming "Hobbit" trilogy, back to the company in a deal worth $590 million. The move comes less than a year after Icahn sold his 33% stake in film and television studio Lions Gate Entertainment, which he originally wanted to merge with MGM. MGM agreed to pay Icahn $33.50 for each of his 17.6 million shares, according to a confidential letter sent to other stockholders and obtained by the  Los Angeles Times.
BUSINESS
March 19, 2010 | By Claudia Eller
One week after Lions Gate Entertainment rejected his holdings in the studio, investor Carl Icahn is launching a hostile takeover bid for the entire company. Icahn is offering $6 a share, which sent Lions Gate shares rising above the offer price in early morning trading. Icahn, who owns nearly 19% of Lions Gate, has been steadily increasing his stake in the studio and recently launched a tender offer to up his stake to nearly 30%. The investor has been angling for more control over Lions Gate, which operates out of Santa Monica under the leadership of chief executive Jon Feltheimer and vice chairman Michael Burns.
BUSINESS
April 10, 2014 | By Ricardo Lopez
The fight between activist investor Carl Icahn and eBay Inc. has been settled as the two sides have quietly reached a truce, Ebay said Thursday. The two had been embroiled in a public spat over accusations by Icahn that two members of eBay's  board of directors had conflicts of interest and that the company had failed to get the full value for Skype, a video chat service, when it was sold.  Icahn also urged eBay to sell a minority stake in...
BUSINESS
February 20, 2013 | By Stuart Pfeifer
Herbalife Ltd. Chief Executive Michael Johnson said the company has had "short discussions" with billionaire investor Carl Icahn, who last week disclosed that he had purchased 13% of the company's stock and would consider efforts to take the company private. Johnson, speaking to analysts in a conference call Wednesday morning, did not elaborate. "Yes, we've had short discussions with Mr. Icahn but beyond that nothing concrete to discuss," Johnson said. Icahn and hedge fund manager Bill Ackman have engaged in a public battle about the value of Herbalife, a Los Angeles maker of weight loss and nutritional products.
BUSINESS
December 4, 2013 | By Chris O'Brien
Shareholder activist Carl Icahn said Wednesday he had informed Apple that he has submitted a proposal to let shareholders vote on a larger stock buyback. In a tweet Wednesday, Icahn wrote: "Gave $AAPL notice we'll be making a precatory proposal to call for vote to increase buyback program, although not at $150 billion level. " A "precatory" proposal is one that is considered an advisory measure, but not necessarily legally binding. Apple's annual shareholder meeting typically takes place in February.  Icahn revealed his large stake in Apple this summer and said he would begin pressing the company to increase the size of the stock buyback.
BUSINESS
January 28, 2014 | By Chris O'Brien
With Apple's stock falling more than 8% at one point on Tuesday, activist investor Carly Icahn swooped in and bought another $500 million worth of shares.  "Just bought $500 mln more $AAPL shares," Icahn tweeted. "My buying seems to be going neck-and-neck with Apple's buyback program, but hope they win that race. " By mid-day trading, Apple's stock had recovered a bit to $ 509.63, a drop of $ 40.87, or  7.42%. Still, the tumble largely mirrors the reaction in after-hours trading Monday after an earnings report from Apple that showed the company sold fewer iPhones than expected during the holiday quarter.  PHOTOS: 10 ways to use the sharing economy In addition, the company said its revenue for the current quarter ending in March would be between $42 million and $44 million.
BUSINESS
January 2, 2014 | By Stuart Pfeifer
Shares of Herbalife Ltd. were gaining Thursday after an analyst named the Los Angeles nutritional product company's stock a top pick for 2014. Tim Ramey, an analyst with D.A. Davidson & Co., has been bullish on the company for more than a year, even after activist investor Bill Ackman suggested the company operates a pyramid scheme that will be shut down by regulators. In a research note, Ramey said he expects the company to post gains in the coming year, in part because of growth in China.
ENTERTAINMENT
December 30, 2013 | By Dawn C. Chmielewski
Netflix Chief Executive Reed Hastings realized a $5.3-million profit from a post-Christmas stock sale, according to a new regulatory filing. Hastings acquired more than 15,238 shares for $417,750 on Dec. 26, which he sold for nearly $5.8 million that same day, according to a filing made with the Securities and Exchange Commission. Such sales are made as part of a predetermined stock sale program, which triggers when the company's stock hits a certain price. Netflix has been one of the top stock performers of the year, up nearly 300% in 2013 as investors found new enthusiasm for the streaming television and movie service.
BUSINESS
December 27, 2013 | By Chris O'Brien
Investor activist Carl Icahn has submitted an advisory proposal asking Apple to increase the size of its stock buyback program in 2014 to $50 billion.  The details of the proposal were included in a proxy statement that Apple filed Friday afternoon with the U.S. Securities and Exchange Commission. The proxy revealed that Apple's annual shareholder meeting will be held Feb. 28, and it contains details of 11 proposals that investors will be asked to vote on.  Most of the proposals are mundane, such as reappointing board members or an auditing firm. However, Icahn's proposal (No. 10)
BUSINESS
December 4, 2013 | By Chris O'Brien
Shareholder activist Carl Icahn said Wednesday he had informed Apple that he has submitted a proposal to let shareholders vote on a larger stock buyback. In a tweet Wednesday, Icahn wrote: "Gave $AAPL notice we'll be making a precatory proposal to call for vote to increase buyback program, although not at $150 billion level. " A "precatory" proposal is one that is considered an advisory measure, but not necessarily legally binding. Apple's annual shareholder meeting typically takes place in February.  Icahn revealed his large stake in Apple this summer and said he would begin pressing the company to increase the size of the stock buyback.
BUSINESS
October 24, 2013 | Bloomberg News
Carl Icahn, the billionaire activist investor who has made a career of pushing companies to make changes to boost shares, published a letter to Apple Inc. Chief Executive Tim Cook urging the company's board to increase the size of a stock repurchase. Icahn promised not to tender his shares if Apple agrees to his proposal to implement a $150-billion repurchase, he said in the open letter that he posted on his website Thursday. Icahn said he has increased his holdings in the company to 4.7 million shares worth $2.5 billion, from 3.4 million shares in August.
ENTERTAINMENT
November 5, 2012 | By Joe Flint
Call it the Carl Icahn pill. Netflix on Monday said it has adopted a stockholder rights plan to block a hostile takeover by the activist investor, who last week acquired a 10% stake in Netflix, the online entertainment company that has more than 30 million subscribers around the world. The company said the move was "intended to protect Netflix and its stockholders from efforts to obtain control of Netflix that the board of directors determines are not in the best interests of Netflix and its stockholders.
ENTERTAINMENT
October 22, 2013 | By Dawn C. Chmielewski, This post has been corrected, as indicated below.
Activist investor Carl Icahn said he sold nearly 3 million shares in Netflix, noting he reaped a substantial windfall from his investment in the online video service. Icahn said he decided it was time to cash out, after the rapid appreciation of the company's stock, which rose to $323 a share, from his initial investment of $58 a share. "As a veteran of seven bear markets, I have learned that when you are lucky and/or smart enough to have made a total return of 457% in only 14 months, it is time to take some chips off the table," Icahn said in a statement.
BUSINESS
October 1, 2013 | By Chris O'Brien
Shareholder activist Carl Icahn broke bread with Apple Chief Executive Tim Cook on Monday to make his case that the company's record stock buyback program was still not enough. Icahn revealed in August that he had purchased about $1 billion worth of Apple's shares. Earlier this year, Apple announced that it had increased its dividend and stock buyback program to more than $100 billion, including $60 billion to buy back shares of the company's stock. Icahn said in his tweet Tuesday that he wants to see the buyback portion increased even further:    Had a cordial dinner with Tim last night.
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