The billionaire investor‘s back on the Twitter and CNBC trail today. He said in a tweet this morning that, over the last two weeks, he bought $500M in Apple’s shares, bringing his total to more than $3B. “Since tweeting about our large position in [Apple] on August 13, when the stock was $468 per share, we’ve kept buying shares of this ‘no brainer’,” he said. Shares closed yesterday at $549.07. Still, he put the company on notice that he’s about to release what he calls an “in-depth letter” as part of his campaign to pressure CEO Tim Cook and the board to increase share repurchases. “We feel [Apple’s] board is doing great disservice to shareholders by not having markedly increased its buyback,” Icahn says. He filed a shareholder proposal for a vote on the issue at the company’s next annual meeting. “I’m not against the management of this company,” he told Time for a cover story that ran last month. But with $147B “they’ve just got too much money on their balance sheet.” He’ll likely expand on that mid-day when he appears on another of his favorite venues: CNBC. Apple shares are up 1.4% in late morning trading.
Carl Icahn Takes Another Bite Of Apple
What's Hot on Deadline
'Miss Peregrine' Rules With $25M-$26M; 'Deepwater Horizon' Murky; 'Masterminds' Dumbs Down - Late Night B.O. Update
'Miss Peregrine's Home For Peculiar Children' Review: Eccentric Family Movie Is Tim Burton's Perfect Match
How Paramount's 'Ghost In The Shell' Hacked 'Mr. Robot's Season 2 Finale & Took Social Media By Storm
Latest Business News
- Scrap California Film Incentives? Nonpartisan State Analyst Says Maybe – Again
- Can CBS And Viacom Investors See Eye-To-Eye On Merger Numbers?
- Viacom’s New Directors Will Lead Committee Weighing CBS Deal
- Media Stocks Share Gains In Generally Upbeat Q3 Market
- Hollywood & Broadway To Put On Big-Money Show For Hillary Clinton
- Anonymous Content Finds Its New Strategic Partner: Laurene Powell Jobs’ Emerson Collective