January 28, 2014 |
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.
January 2, 2014 |
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.
December 30, 2013 |
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.
December 27, 2013 |
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)
December 4, 2013 |
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.
October 24, 2013 |
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.