real-time news and commentary for investors
Tuesday, Oct 1
Icahn confirms dinner with Cook, wants $150B buyback
- Carl Icahn on (where else?) Twitter: "Had a cordial dinner with Tim last night. We pushed hard for a 150 billion buyback. We decided to continue dialogue in about three weeks."
- Apple (AAPL +1.7%) has moved higher following Icahn's tweet. The company added $50B to its buyback program in April, and spent $18B on buybacks in the June quarter. The company had $146.6B in cash/investments at the end of the quarter (much of it offshore) to go with $17B in debt.
- More on Apple/Icahn
- Update: On CNBC, Icahn says CFO Peter Oppenheimer "got a little testy" during the meeting.