Nothing gets a stock moving like a billionaire investors telling everyone he thinks its double its current value.
The e-commerce company has been fighting a push from the activist investor to spin off PayPal, eBay’s mobile payment business that is growing revenue faster than the rest of the company. Icahn launched his campaign against the company in January.
EBay is reporting higher earnings and revenue for the last three months of 2013, driven by a strong holiday season for its e-commerce site and PayPal.
He says he and funds run by his son and a partner bought the shares for about $58 each, and sold them in several blocks this month for $304.23 and $341.44 apiece.
Carl Icahn isn’t the only billionaire investor with an appetite for Apple’s stock. Financier George Soros more than doubled his stake in the iPhone and iPad maker in recent months, according to regulatory documents filed Wednesday.
Apple Inc.’s shares surged passed the $500 threshold – their highest level since January. Wednesday’s gains came a day after activist investor Carl Icahn said he thinks the iPhone maker should do more to revive its stock price.
Billionaire investor Carl Icahn’s announcement that he had acquired a large but unspecified stake in Apple and that he had a “nice conversation” with CEO Tim Cook caused Apple’s market value to rise Tuesday by about $13 billion.
Less than a week after activist investor Carl Icahn announced a 10 percent stake in Netflix, the online video company is moving to protect itself against hostile takeovers.
Clorox Co.’s net income plummeted nearly 40 percent in the fiscal first quarter, largely because last year’s period included the benefit of selling a unit.
Clorox Co. is turning down billionaire investor Carl Icahn’s offer to buy the company, saying the price of $76.50 per share is too low.