Tuesday, February 09, 2016
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Samsung to Showcase Display Technologies at ISE 2016
Intel To Remove Overclocking Loophole In Skylake Processors
Mitsubishi Develops Voice-activated Drawing Function That Displays Spoken Words Where Finger is Traced on Scree
Hackers Hit Homeland Security And FBI
Sony Introduces Its First SSD
French Data Protection Authority Says Facebook Should Stop Collecting Non-User Data
Verizon Expores Yahoo Deal Options: report
Kingston Buys USB Technology and Assets of IronKey from Imation
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
How to burn a backup copy of The Frozen Throne
Help make DVDInfoPro better with dvdinfomantis!!!
Copied dvd's say blank in computer only
menu making
 Home > News > General Computing > Icahn N...
Last 7 Days News : SU MO TU WE TH FR SA All News

Monday, February 10, 2014
Icahn No Longer Seeks Apple Buyback


Activist investor Carl Icahn stepped back in its efforts to convince Apple shareholders demand an increased stock buyback plan, following a proxy adviser's call against his proposal.

In a letter to Apple shareholders on Monday, Icahn wrote that he had decided to ditch his nonbinding proposal, "especially when the company is already so close to fulfilling our requested repurchase target."

Icahn has been asking Apple to boost its plans for a stock buyback program, proposing it give back $50 billion more. On Sunday, Institutional Shareholder Services recommended that shareholders vote against Icahn's proposal, saying such a motion would "micromanage" how the company uses capital.

"In their recommendation, ISS points out, and we agree, that 'on the spectrum of options for allocating capital, the board appears to have been sluggish only in returning excess cash to shareholders,' and even though the company has in place 'one of the largest buybacks in history,' we agree with ISS that this effort seems 'like bailing with a leaky bucket' when 'given the scale of the company's cash reserves,'" Icahn's letter reads.

Apple has repurchased $14 billion of its stock in the two weeks since it reported first-quarter financial results and a second-quarter revenue outlook that did not satisfy investors.

In late January, Icahn said that he had bought another half-billion dollars of Apple stock, boosting the value of stake in the company to more than $4 billion.




Previous
Next
Microft Releases Power BI for Office 365        All News        New AMD Radeon R7 250X Shipping Today
Microft Releases Power BI for Office 365     General Computing News      Yahoo to Partner with Yelp: report

Get RSS feed Easy Print E-Mail this Message

Related News
Apple Error Message Killing iPhones After Replacing Displays
Apple Dominated The Smart Watch Market In 2015
Apple Faces $626M Fine In Patent Case
Apple Has Big Plans For VR After All
Apple To Add Wireless Charging Tech In Future iPhones: report
Apple Recalls AC Wall Plug Adapters And World Travel Adapter Kit
Apple Reports Record First Quarter Results
Apple Loses Head Of Secret Electric Car Project: WSJ
Apple To Return to 4-inches With Rumored iPhone 5SE
Google Paid Apple $1 Billion Fee To Keep Search Bar on iPhone
New Apple Music Apps Transform iOS Devices into Music Studios
Apple Seeks To Open Stores in India

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2016 - All rights reserved -
Privacy policy - Contact Us .