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Icahn's AAPL buyback advice could benefit Apple quickly, significantly
An analysis by Deutsche Bank's Chris Whitmore shows a potential US$50 billion stock buyback would boost Apple's earnings per share by as much as $4.25 in 2014, AppleInsider reports. This comes in the wake of a meeting last week between Tim Cook and investor Carl Icahn where the possibility of expanding the company's share buyback program was discussed. Icahn made headlines last week when he reportedly invested over $1.5 billion in the Cupertino-based tech giant. This strong vote of confidence had a rather dramatic effect on AAPL, boosting it by over 20 points in less than a day. Of course, the most important factor in further pushing Apple's stock upwards is the continued announcement of innovative products, and with an iPhone event reportedly scheduled for September 10, we won't have to wait long on that front.
Circuit City looks for a suitor, Blockbuster likely to be it
Oddly enough, the far-fetched proposal is apt to be accepted. Circuit City has reportedly solicited the services of Goldman Sachs to help "negotiate a deal," which will essentially put the troubled electronics retailer in the hands of someone else. As it stands, Blockbuster looks to be the most interested in picking up the pieces, with billionaire Carl Icahn (Blockbuster's largest shareholder) agreeing to finance the get-together. Of course, it looks as if Blockbuster may be the only outfit interested. Not like that's any surprise, however, as Best Buy itself is having to look to Europe to boost revenues with US consumer spending off from where it once was. The real question here is whether a Circuit City-Blockbuster combo would be the perfect concoction to turn things around for both flagging firms, or will we find that two sinking ships actually do go down faster when anchored to one another?
Icahn still wants Motorola's handset biz spun off
Most folks would take a failed executive board bid as a hint that their controversial opinions aren't welcome within earshot of the boardroom, wouldn't they? Maybe not. Investor, financier, outspoken individual, and rich dude Carl Icahn has once again spouted off about Motorola's business model, reiterating his stance that Moto's handset biz should be spun off and sold for something on the order of $10 billion. Compared side by side with the entirety of Nokia -- the world's largest mobile manufacturer -- it actually comes off sounding a little silly: Nokia's got a market capitalization hovering around $145 billion. Yes, that would value Motorola's phone operations at less than 8 percent of Nokia, which either makes Icahn sound like a fool, or Moto sound like it has a lot of work to do if it plans to recapture number two from Samsung.
