Friday, June 23, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Youtube Unveils New VR180 Format
Asus Vivobook S Launches today at $700
Facebook Focuses on Groups to Bring More People and Ad Dollars Onboard
Samsung Bundles a 24" USB-C monitor With Galaxy Book
Sega Brings Free Classic Games to Smartphones
Nissan-Renault to Launch Driverless Ride-hailing Service
Samsung Goes Retro With the Galaxy Folder 2 Flip Phone
Shuttle Debuts Fanless PC in a 3-litre Format
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 Alleges Qualcomm Chip Licenses are Invalid
Apple Hires TV executives From Sony Pictures
Apple Confirms Focus on an Autonomous Car System
New 21.5-inch iMac Has User-upgradable RAM, Modular CPU
watchOS 4 Brings Fitness Features, iOS 11 Coming this Fall
Apple Upgrades iMac, Macbooks, Unveils New iMac Pro
Apple Said to Develop Siri Speaker
Nokia and Apple Settle All Litigation, Sign Patent License and Business Agreement
Apple To Upgrade MacBooks This Summer
Apple Invests $200M In Corning
Apple Buys Sleep Tracking App Maker Beddit
Apple Becomes World's No.1 Wearables Vendor in Q1 2017

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2017 - All rights reserved -
Privacy policy - Contact Us .