BREAKING NEWS!CARL ICAHN HAS PLAY MONEY FOR JCP.READ NOW.TWEET CARL NOW AND HE WILL RESPOND TO YOU.HE PROMISE HE WOULD
After bowing out of the Dell (NASDAQ: DELL) fight, Carl Icahn has a some fresh play money to wield around... $2 billion to be exact.
In a tweet, Carl Icahn said: "I withdrew my demand for appraisal of my Dell shares. Based on our returns on capital, we believe we have better uses for $2 billion."
So what will Icahn do with the cash?
Some think he could add to his Herbalife (NYSE: HLF) bet. Icahn already owns 16.5% of the stock but has an agreement to raise his stake to 25%. His arch-rival Bill Ackman recently covered 40% of his common share short, instead opting for put options given the short squeeze Icahn has sparked in the name.
Others think Icahn may double down on Apple (NASDAQ: AAPL). Icahn currently owns $2 billion of Apple stock. At a recent "cordial" meeting with CEO Tim Cook, Icahn said he pressed hard for his $150 billion stock buyback idea. Owning Apple is a "no brainer," according to Icahn.
Icahn, of course, could go another route and find a new activist target. Heck, he might even go out in left field and pick up some shares of retail wasteland J.C. Penney (NYSE: JCP).
What's the date of this "breaking news?" You need to post dates or actual copy if you want to regain credibility. Your earlier post claiming BofA/Merrill upgraded JCP was from...May. U implied it was current.
I BELIEVE THE PRINCIPLE, THAT JCP IS ABSURDLY UNDER-VALUED/OVERSOLD NOW, AND THAT A SHARP INVESTOR WOULD SNAP IT UP ESPECIALLY WITH SOME INPUT INTO NEW MANAGEMENT, BUT WHEN YOU FUDGE FACTS U R ALMOST AS BAD AS THE NON-STOP LIARS SHORTING ON THIS BOARD AND ELSEWHERE.
As recently as 3/13, JCP had a better cash:debt ratio than Macy's or Kohl's, but I think these stats were based on "Before Johnson," who ran up $1Bil losses and lost 25% of revenue in one year, according to an 8/13 article in the Christian Science Monitor.
Last update: 03/10/2013 11:47:45 pm
Below are the top department stores stocks on the NYSE in terms of cash.
The TJX Companies (NYSE: TJX) had $2.09 billion in total cash for the latest quarter. However, TJX had $1.27 billion in total debt for the same period.
J. C. Penney Company (NYSE: JCP) had $1.54 billion in total cash and $5.82 billion in total debt for the latest quarter.
Macy's (NYSE: M) had $1.42 billion in total cash and $6.91 billion in total debt for the latest quarter.
Kohl's (NYSE: KSS) had $592.00 million in total cash and $4.59 billion in total debt for the latest quarter.