By Abram Brown
A judge gave hedge fund titan David Einhorn a large victory earlier this afternoon when he reportedly ruled Apple couldn’t move forward with its proposal to vote on preferred stock. …read more
Source: FULL ARTICLE at Forbes Markets
By Steve Schaefer, Forbes Staff
There was an interesting wrinkle to David Einhorn‘s conference call Thursday. …read more
Source: FULL ARTICLE at Forbes Latest
SAN FRANCISCO (Reuters) – Hedge fund manager David Einhorn had some sharp words on Thursday for both Dell Inc and founder Michael Dell on his plan to take the company private. Einhorn, who has mounted a campaign to get Apple Inc to share more of its $137 billion cash pile, used the leveraged buyout of Dell as an example of a cash policy that is shareholder unfriendly. Michael Dell has struck a deal to take private the No. 3 personal computer maker he created in a college dorm room in 1984. The founder is partnering with private equity house Silver Lake and Microsoft Corp but the $24. …
Hedge fund titan David Einhorn reemphasized his position that Apple should issue preferred stock to better reward investors and that a proposal at next week’s annual meeting could make this impossible. …read more
Source: FULL ARTICLE at Forbes Latest
By Connie Guglielmo, Forbes Staff Hedge fund manager David Einhorn and his Greenlight Capital will host a conference call and webcast Feb. 21 to discuss their thoughts on how Apple should use some of its cash. …read more
Source: FULL ARTICLE at Forbes Latest
By The Street, Contributor Hedge fund manager David Einhorn of Greenlight Capital said Wednesday that ratings agencyMoody’s (MCO) was his biggest money-losing short bet last year. As Einhorn made little mention of the short position — betting on a decline in Moody’s share price — in numerous investor reports and media appearances, the famed short seller’s comments raise a crucial question. …read more
Source: FULL ARTICLE at Forbes Latest
By Steve Schaefer, Forbes Staff
By now, the latest twist in the debate over Apple’s cash hoard is well known. Tim Cook politely dismissed hedge fund billionaire David Einhorn‘s call for a preferred share launch at a conference Thursday, reiterating that the iBoard is actively discussing ways to return capital to shareholders. …read more
Source: FULL ARTICLE at Forbes Latest
Apple Inc on Wednesday was hit by another shareholder lawsuit, a case that is similar to the court challenge that star hedge fund manager David Einhorn brought as part of his push to unlock the company’s cash hoard. …read more
Source: FULL ARTICLE at Fox Business Headlines
By Connie Guglielmo, Forbes Staff Cook says Greenlight Capital’s call for perpetual preferred shares is “creative,” but says a lawsuit filed by Greenlight’s David Einhorn against a proposal requiring a vote on such shares is a “silly sideshow” and a waste of shareholder money. …read more
Source: FULL ARTICLE at Forbes Latest
Filed under: Technology, Industry News
Apple Inc. (NASDAQ: AAPL) is not yet at the point that it really wants to take David Einhorn too seriously. At a Goldman Sachs investor conference today, CEO Tim Cook called Einhorn’s idea creative. He also said that the idea of a preferred share issue a silly sideshow to be sued over.
Tim Cook went on to say that its position of being able to hold endless billions just in cash is a privilege to be in that position. Cook said that Apple can seriously consider returning additional capital back to its shareholders.
The company generated more than $20 billion alone in the last quarter, and it sounds as though the company is getting more toward returning more of that capital to its holders. Apple can boost its dividend or it can buy back common stock. Another approach is that Apple can do both.
Our take is that Apple still needs to capitulate and split its bloated share price so that investors will start buying the stock again rather than spending so much capital and efforts buying oer selling put and call options to get exposure.
Apple investors have so far not liked the news. Apple shares are down over $9.50 or 2% to $470 in early afternoon trading against a 52-week trading range of $435.00 to $705.07.
Filed under: 24/7 Wall St. Wire, Activist Investor, Consumer Electronics, Corporate Governance, Technology, Technology Companies Tagged: AAPL
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Apple Inc CEO Tim Cook called David Einhorn‘s lawsuit against his company a “sideshow” but said on Tuesday the board is carefully considering the star hedge fund manager’s proposal to issue preferred stock, calling it “creative. …read more
Source: FULL ARTICLE at Fox Business Headlines
Shareholder adviser ISS Proxy Advisory Services has urged investors to vote for an Apple Inc. (AAPL) proposal to eliminate the company’s power to issue preferred stock without shareholder approval, after hedge-fund manager David Einhorn of Greenlight Capital Inc. challenged Apple’s proposal earlier this week. …read more
Source: FULL ARTICLE at Fox Business Headlines
Hedge fund star David Einhorn wants to force Apple Inc to share some of its huge cash pile with investors, but his lawsuit rests on a U.S. securities rule that has little court precedent surrounding it. …read more
Source: FULL ARTICLE at Fox Business Headlines
Hedge-fund manager David Einhorn, whose Greenlight Capital is one of Apple’s largest shareholders, has asked the company to engage in some elaborate financial engineering to “unlock the growing value of its balance sheet”. While Einhorn’s plan to issue billions in preferred stock might or might not work to do that, the incident points out one of the biggest differences between the Apple of the late Steve Jobs and that of current CEO Tim Cook. The latter is a lot less insular and a lot more aware that it exists in a greater world. How so? Well it’s hard to imagine Jobs’ Apple issuing a statement the same day that not only acknowledges Einhorn’s proposal, but promises to give it some consideration. …read more
Source: FULL ARTICLE at Forbes Latest
By Haydn Shaughnessy, Contributor
On the face of it Apple has one innovation problem that it needs to overcome – find a new category busting product like the iPhone. Not so easy, of course. But the intervention of hedge fund manager David Einhorn, mad at the company’s inability to leverage value from its $137 billion cash pile, tells us that its innovation problems are significantly bigger. …read more
Source: FULL ARTICLE at Forbes Latest
By Steve Schaefer, Forbes Staff
Apple’s incredible cash building has gotten out of hand, according to hedge fund manager David Einhorn, who wants the company to leverage its $137 billion hoard by borrowing at low rates to fund rich dividends on perpetual preferred stock it would issue to shareholders. …read more
Source: FULL ARTICLE at Forbes Latest
By Connie Guglielmo, Forbes Staff Apple, in response to a proposal today by activist investor David Einhorn of Greenlight Capital who essentially wants the company to pay out some of its more than $137 billion in cash to investors, issued the following statement today. …read more
Source: FULL ARTICLE at Forbes Latest
By Chuck Jones, Contributor Apple released a statement just before the close of the market today addressing David Einhorn’s suit over its excess cash. In the press release Apple stated: …read more
Source: FULL ARTICLE at Forbes Latest
By Igor Greenwald, Contributor We can joke about David Einhorn suing Apple because it has recently cost him so much money. …read more
Source: FULL ARTICLE at Forbes Latest
