Icahn pushes Apple on buyback

Investor Carl Icahn has grabbed a stake valued at over $1.5 billion in Apple Inc., believing that more cash should be falling from the tech giant's branches. To accomplish that, Icahn wants Apple to buy back some of its shares immediately. Macy's reported lower-than-expected sales and profit, citing consumers' limited willingness to spend on non-essentials, leading the department store chain to reduce prices on items. Erin Gibbs, Equity Chief Investment Officer at S&P's Investment Advisory Services, sees stocks heading higher, even with a cautionary assessment of the US economy.
View Comments (-1)