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 1, 2013 |
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.
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.