Thursday, May 26, 2016
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
New Toshiba 8TB X300 Hard Disk Drive Released
Microsoft Says Users Can Still Deny Windows 10 Upgrade
Apple Looking Into Charging Stations For Electric Cars: report
Google To Open Self-driving Car Engineering center in Michigan
AMD Introduces the FirePro S7100X Hardware-Virtualized GPU for Blade Servers
Europe Proposes New E-commerce Rules
HP Enterprise to Merge IT Services Unit With Computer Sciences
Samsung Introduces Galaxy Tab Iris Equipped with Iris Recognition Technology
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
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 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 Looking Into Charging Stations For Electric Cars: report
Apple Supplier Talks About All-glass iPhone
Apple Celebrates Chinese Music with GarageBand Update
Apple Invests $1 billion in Chinese Ride-hailing Service
Apple and SAP to Develop Business Apps For iPhone And iPad
Apple Loses China Trademark For 'iPhone' On Leather Goods
Apple Reports Second Quarter Results
iPhone 7 May Not Be Enough to Boost Apple's Sales
Future Apple Watch Apps Should Work Without An iPhone
Apple Updates MacBook with Latest Processors, Longer Battery Life
KGI Analyst Says iPhone 7 To Feature 'All glass' Enclosure Along With An AMOLED Screen
Report Says Apple To Extend iPhone Output Cut

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 .