Icahn Had a Busy Day Wednesday

Billionaire financier, Carl Icahn had a busy day Wednesday. Icahn's bet on BEA Systems (Nasdaq: BEAS) (13%), which looked like it was going nowhere fast, paid off big after the company was acquired by Oracle (Nasdaq: ORCL) for $19.375 per share in cash. The price was lower than the $21 per share BEA said they would start the bidding at, but it was higher than Oracle's original $17 bid - which BEA rejected. Icahn said he supports the deal.

Another one of Icahn's stocks, WCI Communities (NYSE: WCI), where he is Chairman, was down over 20% earlier today on bankruptcy fears. The stock spiked back into the green after Icahn, on CNBC, said he would not jump to that conclusion. WCI's latest bank waiver on the company's loans expires today. If the company is unable to negotiate new terms with its banks it may be in serious trouble.

On CNBC, Icahn also made some upbeat comments about one of his other stocks, Motorola Inc. (NYSE: MOT). Icahn said he is a great bull on the stock. Icahn said Motorola needs to separate the cell phone business. He said at current prices you get the cell phone business for nothing.

Another Icahn bet, Biogen Idec (Nasdaq: BIIB), traded in the green Wednesday. Biogen shares were killed in December after the company completed its review of strategic alternatives without a sale. The stock dropped from about $76 to $54 after the news. It is currently trading at around $60.On Fast Money Tuesday, Icahn said he still has hope the company will eventually be sold.

Comments

[Chuck]

"On Fast Money Tuesday, Icahn said he still has hope the company will eventually be sold."
..
As my pappy used to say... "Wish in one hand and spit in the other and see which get's full first".
He can hope it get's sold.