NEW YORK Activist investor Carl Icahn has told Apple CEO Tim Cook that the iPhone and iPad maker should launch a $150 billion stock buyback immediately and disclosed that he now owns 4.7 million shares in the company. In a letter to Cook posted online on Thursday, Icahn said he has increased his stake in Apple (AAPL) by 22 percent from 3.9 million at the end of September. At Apple's current stock price, that's worth about $2.5 billion and amounts to less than a 1 percent stake in the company. Icahn wants Apple to launch the buyback at its current stock price, which closed at close to $525 on Wednesday when the letter was sent. The billionaire investor posted the letter on a new website he launched Thursday, called "Shareholders Square Table." … [Read more...] about Carl Icahn: Apple should launch $150B stock buyback
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Billionaire investor Carl Icahn is famous for piling pressure on corporate executives to make the kind of changes that will boost their companies' market value. But he is taking a more delicate approach in leaning on the leadership at Apple (AAPL), already the world's most valuable company. In a 4,000 word open letter to CEO Tim Cook, Icahn, 78, is asking Apple to step up purchases of its shares, as he commonly does when urging companies to take action to lift their stock price, asserting that the technology giant is "massively undervalued." But the 78-year-old also went out of his way to praise Apple, telling CNBC that it is one of the "great companies' of the last two decades. "To be totally clear, this letter is in no way intended as a criticism of you as CEO, nor is it intended to be critical of anything you or your team are doing from an operational perspective at Apple," Icahn said in the letter, which was posted on his Tumblr account. "Quite to the contrary, we could not be more … [Read more...] about Carl Icahn says Apple is “massively undervalued”
NEW YORK - Billionaire activist investor Carl Icahn is investing $100 million in on-demand ride sharing service Lyft. Jonathan Christodoro, a managing director of Icahn Enterprises, will join the San Francisco company's board of directors. Lyft didn't comment on any other terms in the investment. Icahn is well known for tangling with the boards of companies like Apple, Yahoo, Hertz, Gannett and eBay, rather than investing in startups. The privately held Lyft says it brought in $150 million in the new round of fundraising. Lyft was launched in 2012. Users download its app and use it to request a ride from a nearby driver, and they can also use the app to pay for their rides. The company's last round of fundraising valued it at $2.5 billion. … [Read more...] about Lyft says Carl Icahn makes $100M investment
Easy for billionaire Carl Icahn to unload his 53 million shares of Apple (AAPL): He walks away with some $2 billion in profits. But investors who aren't in Icahn's ritzy shoes should consider going the other way: Buy Apple shares that are now selling at a 10 percent discount, which Icahn's exit helped bring about. But better act now before the stock snaps back, as several analysts see Apple shining again, perhaps hitting $133 a share. Why should Icahn make all the money? For sure, plenty of other investors did make a pile from selling the stock they bought at about the price that Icahn did just a couple of years ago. Now down to just under $94, the stock is exactly at the spot where it was earlier this year, from which it later rebounded to $110. Icahn said Apple remains a "great company," but he's worried not only about the softening China market but the country's disconcerting regulatory attitude. Icahn's move out of the stock added to the anxiety that investors felt after Apple … [Read more...] about Should investors follow Carl Icahn’s exit from Apple?
(CBS News) Apple on Tuesday saw its market value spike by about $13 billion after investor Carl Icahn made a big announcement, saying that he'd purchased a large chunk of Apple shares because he believes the company's stock could be in much better shape. Icahn is known for taking big stakes in companies ranging from Yahoo to Motorola and Netflix -- pushing not so subtly for change. But in an unusual move Tuesday, the 77-year-old revealed his latest venture on Twitter, saying: Cory Johnson, anchor and editor in chief of Bloomberg West, said, "Not through an SEC, Securities and Exchange Commission filing, not through a press release. He used Twitter to get that news out and that instantly sent the stock flying." Apple's stock price to a near seven-month high -- a boost for a company whose shares have fallen more than 30 percent since last September. Icahn also tweeted that he talked with Apple chief executive officer Tim Cook to push for a larger stock buyback. Apple's been accused of … [Read more...] about Carl Icahn’s Apple support sends tech giant’s stock soaring