“Apple Inc. extended gains after investor Carl Icahn said he is no longer pushing the tech company for a sizeable stock buyback,” Sue Chang and Saumya Vaishampayan report for MarketWatch.
“Apple gained 1.8% as Icahn retreated from his earlier push to have the company buy back $50 billion more of its shares. Icahn said in a letter to Apple shareholders that he is dropping his proposal in light of the $14 billion in stock Apple has repurchased since late January,” Chang and Vaishampayan report. “Icahn’s latest declaration comes after a proxy advisory firm Institutional Shareholder Services Inc. sided with Apple and rejected the investor’s demands, according to The Wall Street Journal.”
Full article here.
MacDailyNews Take: Where’d Carl go? Apple must have flipped on the kitchen light.
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