real-time news and commentary for investors
Tuesday, Oct 1
Icahn to keep pushing for larger Apple buyback, has $2B stake
- Discussing his lobbying for a $150B Apple (AAPL +2.5%) buyback on CNBC, Carl Icahn promised he's "not going away until [Apple hears] a lot more from me."
- Icahn refused to share Tim Cook's reaction to his proposal, but did say the discussion "got a little testy" due to CFO Peter Oppenheimer's presence. He added his stake in Apple now stands at $2B (still less than 0.5%).
- Apple is trading near its session highs. Credit analyst Tim Backshall observes the company's borrowing costs are now notably higher than they were in April, when the company raised $17B in debt to help pay for its buyback efforts.