Icahn Racks Up Gains in ImClone, Motorola, and Amylin

Activist investor Carl Icahn had a nice day yesterday. Here's why:

1. Bristol-Myers (BMY) sent Mr. Icahn a letter presenting a $60 per share offer for ImClone Systems (IMCL). Icahn is the Chairman of ImClone, and owns 11,669,544 shares of the biotech company. With shares of ImClone trading up to 37%, to $63.84 today, Icahn made a cool $200+ million yesterday in the stock. Icahn's cost basis on ImClone is about $33 per share, suggesting Icahn could make a 100% profit on his trade if ImClone is sold for around $66 per share. If the company is sold for $60, that's still a 80% profit.
2. Motorola Inc. (MOT), a stock Carl has been involved with for a long time, is up 12% after topping Q2 estimates and providing guidance above the Street. Carl was up about $126 million in MOT yesterday, although he is still underwater in the stock.
3. Amylin Pharmaceuticals Inc. (AMLN), a stock Carl has been involved with and has pushed to put itself up for sale, was up 11% yesterday on speculation it could be the next biotech takeover target following the ImClone news. Carl was up about $22 million yesterday on the trade.