Carl Icahn

Carl Icahn

Last Update: 07-09-2015

Number of Stocks: 21
Number of New Stocks: 0

Total Value: $32,052 Mil
Q/Q Turnover: 1%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Carl Icahn Watch

  • Bill Ackman Wants To Make Big Profits With These 3 Dividend Stocks

    Some of you might know Bill Ackman because of the phone battle against Carl Icahn on CNBC. He is an activist with around USD 10 billion in assets under management. In his management company “Pershing Square Capital” he has only 10 stock holdings.

    As an activist, Ackman tries to increase pressure on the management of a company in order to implement own visions of the company’s future. Nearly half of his positions have voting rights over 10 percent.  


  • What the Gurus Did This Week - Real Time Guru Activities Update

    This past week was a slower week in guru real-time activity, with four gurus reporting changes to their portfolios. Richard Blum, George Soros and Mario Gabelli made slight changes in their holdings, while Carl Icahn made a significant increase to one of his holdings.

    Mario Gabelli
      


  • Icahn's Most Recent Increase in Dell

    In an article written for Forbes, Carl Icahn discusses why his form of investing is not only good for him but also for America:

    Corporate democracy does not exist. Critics of activism state that activism may be good for the activist but not for other stockholders. Yet shareholder value has risen by many billions of dollars in the companies we have targeted over the years. I believe this proves conclusively that all shareholders, not just us, benefit from our involvement…
      


  • Southeastern Asset Management Updates Investors on Dell

    Southeastern Asset Management continues to believe that the Michael Dell / Silver Lake management buyout proposal undervalues the company and its prospects going forward.

    Southeastern and Icahn Associates have been working diligently to provide a better alternative for shareholders. Southeastern has determined that Icahn is in the best position to lead the development of an alternative transaction and to generate a better outcome for shareholders. Southeastern has therefore agreed to sell approximately 72,010,328 shares to Icahn, making Icahn the largest outside shareholder of Dell.  


  • Carl Icahn's 3 Biggest Dividend Stock Bets from His Recent Buys

    Carl Icahn is a well-known investor. He serves around USD16.9 billion in his asset management company Icahn Capital Management LP. His asset allocation is very focused on single stocks. In total he has only 19 stock holdings of which four are new. Within the recent quarter, Icahn bought only five companies. He’s a guy who wants control and he wants to change something. In his portfolio holdings he has a significant influence with an ownership of more than 10 percent of the outstanding capital.

    From his 13 latest stock buys, only seven pay dividends. Eight of them have a current buy or better rating by brokerage analysts.  


  • Carl Icahn and Southeastern Urge Investors to Reject Dell Buyout Offer

    Southeastern, along with Icahn Enterprises L.P., believes that substantially greater value can be realized for Dell (NASDAQ:DELL) stockholders than what is reflected in the Dell management-led buyout proposal and will be making a proxy statement available in the near future.

    Southeastern and Icahn wrote the following letter to Dell shareholders:  


  • Carl Icahn's First Quarter Increase

    The always vocal Carl Icahn continues to hold positions which allow him to criticize upper management as well as demand board seats for himself or his partners. Staying true to his image, Icahn made four new buys in the first quarter, with two of those companies being highly popularized and controversial. Icahn only increased his holdings in one company (highlighted below) and did not sell out or decrease his holdings in any stock. As of the end of the first quarter 2013, Icahn held on to 19 stocks that were valued at $16.957 billion.

      


  • Carl Icahn - Michael Dell Should Not Be Dell's CEO

    Icahn says that we need more than a bit of a cultural change at Dell (NASDAQ:DELL). Michael Dell is no longer the guy to run this company.

    Icahn insists that he has nothing against Michael Dell and respects him, but is sure that he not going to be the guy to run the new Dell.  


  • CARL ICAHN: 'I Don't See Jim Chanos On The Forbes 400 List'

    "I've been on the other side of him [Chanos] many times and I've made fortunes being against him," said Icahn. "I don't mean this in a derrogatory way, but I don't see Chanos on the Forbes 400 list," he said.

      

  • Carl Icahn Walks Us Through His Offer to Acquire Dell

    Icahn thinks that the Michael Dell offer for Dell (NASDAQ:DELL) that the board of directors has approved is a great giveaway. Instead he and Southeastern Asset Management are proposing a leveraged recapitalization.  


  • Real-Time Review of Three Trades

    According to GuruFocus Real Time Picks, these are some of the Guru trades listing in the last 24 hours and a look at how the companies are performing:

    Carl Icahn  


  • Icahn Increases Voice Recognition NUAN at 52-Week Low

    The GuruFocus 52-week low screener reveals that Nuance Communications Inc. (NASDAQ:NUAN) is at a 52-week low of $18.94 (high was $25.89). According to the GuruFocus Value Screen for 52-week lows, NUAN is 26.8% off the high. But activist investor Guru Carl Icahn of Icahn Capital Management is putting his dough on this amazing voice recognition and imaging systems company that, in hindsight, has made television's old “The Jetsons” cartoon look like a kind of inspirational blueprint for today’s talking cars and interactive smart phones.

    At last month’s launch of Nuance's mobile advertising “Voice Ads,” Guru Carl Icahn became the largest stakeholder with a new buy of around 29 million NUAN shares. As of March 20, 2013, the stock price range was $19.5 per share. According to GuruFocus Real Time Picks, Icahn increased his position again by 15.58% as of April 30, 2013, adding around 4.5 million shares in the price range of $23.30 per share, just as Nuance Communications reported a less than expected second quarter. The current NUAN share price is $19.04, with a change from average down 18%. The stock is down 23% over the past 12 months.  


  • Forbes India Profiles Corporate Raider Carl Icahn

    From Forbes India, a profile of Carl Icahn:

    [i]Carl Icahn’s offices carry a distinct museum quality. Three decades of scalps, resulting from some of the most famous hostile takeovers, proxy fights and board assaults in American financial history, cover every cranny of his wood-lined corridors. There are model airplanes from TWA—the takeover that cemented his name among major league dealmakers—and toy trains from ACF Industries, which has served as his cash machine for decades. Lucite tombstones recount conquests involving many of the great companies of the 20th century, from MGM to Motorola, Texaco to Nabisco.  


  • Carl Icahn Guest Lecture At Yale University

    I'll let Carl Icahn introduce himself (from his site "The Icahn Report"):  


  • 60 Minutes Profiles Carl Icahn

    Pushing for change at Chesapeake Energy and Herbalife, battling head to head on CNBC with Bill Ackman... Carl Icahn isn't your run-of-the-mill senior citizen.

    At age 76, Carl Icahn is still shaking up corporate boards, criticizing management and demanding board seats. His hedge fund was one of the top performers in 2011 and has a long-term track record of approximately 30% pa. His conglomerate, Icahn Enterprises, invests in rail cars, retail, gaming, energy and automotive. He insists that most public companies around the world are very inefficient and can be improved with the correct strategies. A Princeton drop out, he is now one of the longest standing and most successful corporate take- over artists in the world.  


  • Bill Nygren Commentary on Oakmark Fund, First Quarter 2013

    The Oakmark Fund increased by 10% in the past quarter, bringing the gain for the first half of our fiscal year to 13%. The S&P 500 also increased significantly, up 11% and 10% for the quarter and six months, respectively. Despite these increases, we believe stocks remain moderately undervalued relative to their own history and extremely undervalued versus bonds.

    Our best performing stock in the quarter was Dell, up 42%. Dell is in the midst of a bidding war between a group headed by its CEO, Michael Dell, and groups led by Blackstone and Carl Icahn. We have decided, for now, to maintain our holding as we believe there is a reasonable probability that a higher bid will emerge. A more detailed discussion of our Dell position can be found in the commentary for the Oakmark and Oakmark Select Funds.  


  • Carl Icahn Writes Letter to Transocean Shareholders - Wants A Dividend Increase

    How does Icahn get any sleep? He seems to be publicly active with a new company every week — Herbalife, Chesapeake, Dell (potential acquisition).

    Yesterday he released this letter asking shareholders to support his three proposed directors and the implementation of a much larger dividend. Here is his letter:  


  • A Luddite Consumer Perspective - Icahn’s New Mega Buy, NUAN

    In 1926 Nikola Tesla, scientist, futurist and inventor, stated: "When wireless is perfectly applied the whole earth will be converted into a huge brain, which in fact it is, all things being particles of a real and rhythmic whole." In the 1960s philosopher Marshall McLuhan’s vision of technology in a media-dominated global village was that it translates "our entire lives into the spiritual form of information" and unifies the entire globe and the human family into a single consciousness.

    This week Nuance Communications Inc. (NASDAQ:NUAN) and its new “Voice Ads” realized more of what Tesla envisioned and McLuhan predicted as “the intensification of the world community,” which he postulated before cell phones, smartphones, laptops, Facebook or Google. A few days ago, Nuance Communications unveiled “Voice Ads,” as a new mobile advertising format that lets a billion people have two-way conversations with the brands they love. The question is: Do you WANT to have a conversation with a brand? I don’t. I never talk to my shampoo. Ever.  


  • Carl Icahn’s 4 Biggest Dividend Stock Holdings

    Super investors made a great return in the past and they got very rich. Not all started to make money with little stock trading. Some of them made big deals with huge loans. They took the risk and won the game.

    Carl Icahn is such a person. He is an activist with $12 billion market value of his Icahn Capital Management vehicle. Herbalife, Transocean or Dell, Icahn is still named as investor who stirs up the pastry.  


  • Gurus Gabelli and Icahn Own Large Chunks of Navistar

    Navistar sounds like the GPS company but it isn’t. The global manufacturer of International brand commercial trucks, large vehicles, and diesel engines Navistar International Corp. (NYSE:NAV) is one stock on the keep-buying lists of Gurus Mario Gabelli and Carl Icahn. The GAMCO Investors’ Chairman and Chief Executive Officer Mario Gabelli owns 4,463,160 shares of NAV, valued as $97 million, as of Dec. 31, 2012. His NAV holdings account for 0.71% of his equity portfolio.

    Navistar International Inc. (NYSE:NAV) stock rose from $31.89 last week after the company named Troy Clarke as CEO. Clarke plans to reduce costs by $175 million, lay off employees, and close business units to return Navistar to profitability by the end of the year. Navistar has combined engine technology with competitor Cummins Inc. to produce 13-liter engines that meet federal emission standards, according to the Chicago Tribune. Navistar will sell the big-bore engines made by Cummins Inc. in its heavy duty trucks with an anticipated start in April 2013. Incorporated in 1993, Navistar International has a market cap of $2.78 billion; its shares are traded at around $34.72 with and P/S ratio of 0.1979.  


  • Billionaire Carl Icahn: Pitbull At The Gate, Dell (DELL), Herbalife (HLF) And More

    Be sure to check out our detailed stock analysis (click here). It seems everywhere we look, Carl Icahn is nipping at some company's heels, getting ready to bite. He is the ultimate alpha investor. The CBS program "60 Minutes" profiled him in August 2008 and called his effect on a company's share price the “Icahn Lift.” The premise behind this is that Icahn boosts the value of a company's share price for other investors when he buys stock in that particular company (check out all of Icahn's stock picks).

    Icahn started his style of investing in the 1970s and 80s. The press originally called him a “Greenmailer” as companies would just pay him off to go away. In other words they paid a premium for his shares to leave the company alone. In the late 1980s and 90s, Icahn became known as a “Corporate Raider” after he bought entire companies using cash and debt. Today he's known as an “Activist Investor.” But as Icahn told "60 Minutes," he's been doing the same thing all along, which is identify an undervalued company and use his deep pockets to angle for change in the company's strategy and boost the stock price. When Icahn wins, other investors win as well because investors are investing right alongside him. Let's take a look at where Icahn is currently investing.  


  • Carl Icahn Adds HLF as Herbalife War Erupts

    In his sixth add of Herbalife Ltd. (NYSE:HLF) since his buy on Feb. 4, 2013, Guru Carl Icahn again increased his stake by 2.01% on March 8, 2013, for a total current shares of 16,355,131. Icahn is listed as 10% owner of Herbalife Ltd. The current price of HLF is $40.38, with a change from average down 3%. Founded in 1980, Herbalife Ltd. is a leading provider of weight management and nutritional supplements operating in 72 countries through a network of 2 million independent distributors.

    In the first quarter of 2013, Herbalife (NYSE:HLF) got more than its fair share of press with controversial statements made by Gurus Bill Ackman of Pershing Square Capital Management LP and Carl Icahn of Icahn Capital Management LP, and others arguing about the Herbalife business model. Last week New York investor and attorney Daniel Ravicher filed paperwork in Manhattan Federal Court to force three banks to pull back $1.2 billion of financing for Herbalife. According to the New York Post, Ravicher filed another separate lawsuit seeking to force Icahn to pay damages and divest his stake in Herbalife.  


  • Ride the Tank Car Boom: American Railcar Industries

    Contributing editor Glenn Rogers is back this week with some thoughts about North America's oil traffic jam and the railroad solution that producers are turning to with greater frequency. Glenn is a successful businessman and entrepreneur who has worked in both Canada and the U.S. and now lives in southern California. Here is his report. Glenn Rogers writes:

    While the U.S. government ponders whether to finally approve the Keystone pipeline, oil companies and refiners have figured out a way to move their products without the benefit of the less expensive and safer pipeline alternative - by rail.  


  • Carl Icahn vs Bill Ackman and Herbalife

    Herbalife (NYSE:HLF) is a ponzi scheme. Period. Why?

    For me it is pretty simple. They do not sell their products through retail channels. They sell them through distributors who are recruited by other distributors. Step one in the “increase sales” process is to recruit more distributors. Without adding distributors, sales are stagnant as the company has presented no evidence existing distributors are able to increase sales without also increasing recruiting.  


  • Chesapeake CEO Aubrey McClendon Resigns – What Now?

    After experiencing a roller-coaster of a year in 2012, jam-packed with investigations, falling market value, public scrutiny and company shareholders demanding his ouster, Chesapeake CEO Aubrey McClendon has announced his decision to resign, sending Chesapeake (NYSE:CHK)’s stock to surge about 11 percent yesterday after the news broke.

    It seems like Chesapeake is well on its way to recovery, with McClendon’s resignation knocking off the first step, taking effect in the beginning of April. Since 2013 started, its stock has risen from $16 to its price today of $20.05.  


  • Carl Icahn Still Bullish on Chesapeake

    It appears that Carl Icahn has helped to shuffle the board of another company. Yesterday, it was revealed that Chief Executive Officer Aubrey McClendon has agreed to retire on April 1.

    However, it is not clear whether Icahn used his activist tactics to remove the beleaguered executive.  


  • Ackman Points Out a Bit of Hypocrisy in Icahn's Comments About Ackman's Herbalife Short

    I can't recall a feud carried out quite so publicly. First Icahn states that he doesn't like or respect Bill Ackman on cable television. Today Ackman gets a chance to reply by basically calling Icahn out for being a hypocrite.

    Icahn said yesterday that he thought it was distasteful and too aggressive for Ackman to publicly announce his short position in Herbalife at the Ira Sohn conference. Ackman points out that in both 2002 and 2003 Icahn spoke at the exact same conference about his short position in Trinity Industries which he was short 22% the float of.  


  • And the War Continues: Short-Seller Jim Chanos Comments on Herbalife

    A video posted by Reuters yesterday featured famed short-seller, Jim Chanos, zeroing in on Herbalife (NYSE:HLF), the stock in the middle of a heated betting war between several hedge fund managers.

    Although Chanos was reluctant to reveal his actual position on Herbalife, he did view his opinions about companies like Herbalife in general, which discloses his stance on the multi-level marketing business model that Herbalife is comprised of.  


  • Carl Icahn’s Top Growth Stocks

    It is incredibly hard to find a description of Carl Icahn without seeing the words activist, raider, takeover, and of course, billionaire, attached to his name. The aggressive investing Guru has built a legendary reputation disturbing the peace in the management of ailing companies, challenging corporate executives about the way they run businesses and writing ultra-public letters of criticism, all laced together with good intentions.

    As the ultimate contrarian, the Icahn approach doesn’t quite fall completely in line with the methods of the investing messiah himself, Warren Buffett, which often has people underestimating Icahn, explaining why investors do not piggy-back on his moves as fast as they do Buffett’s. But one part about this tidbit that Icahn does surely enjoy: proving people wrong.  


  • Carl Icahn Discloses a Position in Transocean Ltd.

    Global offshore drilling company, Transocean Ltd. (NYSE:RIG), announced yesterday that activist Guru Carl Icahn has grabbed a 3.26 percent position in the company, according to a Transocean press release on Monday and an SEC filing.

    The company noted that the position consists of 1.56 percent of Transocean’s issued shares, and 1.7 percent worth of a synthetic long position (including options to acquire shares). Icahn additionally seeks approval to potentially obtain voting securities of Transocean in an amount exceeding $682.1 million. Buying this amount would place his stake in the company at about 5 percent.  


  • Talks of Carl Icahn Getting a Piece of Herbalife, Joining Loeb in Long Position

    After fellow activist investor, Daniel Loeb set off the media earlier this week with his declaration to obtain a long position in Herbalife (NYSE:HLF), a company that Pershing Square’s Bill Ackman just shorted weeks ago, corporate raiding Guru Carl Icahn has been reported yesterday afternoon of joining Loeb in taking a piece of the action.

    Herbalife, a nutritional supplement company that uses a multi-level marketing approach, was labeled a pyramid scheme by Ackman days before Christmas, dropping the stock down more than 15 percent. A few weeks have gone by, along with Loeb’s initiation, and the stock is seen slowly recovering. The stock is down only 0.64 percent Friday morning.  


  • Herbalife's President Appears on CNBC to Refute Ackman's Claims

    What a start to 2013! Ackman goes public in grand fashion with a 9 million-page short presentation on Herbalife (NYSE:HLF) promising to dedicate his profits to charity.

    Then to make things even more interesting, both Daniel Loeb and now Carl Icahn have taken the long side of Herbalife. Icahn and Ackman have long had a real hate for each other, so this story is going to be one for the ages.  


  • Carl Icahn’s Commercial Metals Stake Continues to Lose Shine

    It has been about a year since activist investor Carl Icahn dropped his bid for Irving, Texas-based Commercial Metals Co. (NYSE:CMC). After a proxy contest lasting several months, and the company urging its shareholders to refuse Icahn’s $15 per share tender offer, Commercial Metals can continue to welcome the New Year Icahn-free, as the takeover Guru reported his third stake reduction in the company today.

    Icahn, who once had about 10 percent control of the company, now has 6.17 percent of the company’s outstanding shares. In the third quarter of 2012, he had 6.82 percent outstanding shares.  


  • Carl Icahn the Activist Investor on 60 Minutes

    Carl Icahn the activist investor was on 60 Minutes discussing his investment strategy. This video is a bit old but still provides very good insights into the workings of Icahn — how he goes about looking at the opportunities, fighting boards and management and making profits.

    Here is the video:  


  • Bloomberg's Carl Icahn Spotlight



  • Bloomberg's Take on Carl Icahn's Greenbrier Bids



  • Icahn Takes a Large Step Back from Greenbrier After Company Rejects Second Bid

    Activist investor, Carl Icahn, who was once 9.99 percent owner of railcar maker, Greenbrier Companies Inc. (NYSE:GBX), has now taken a leap back from its ownership and reduced his stake by 65.9 percent, reported on Dec. 21 according to GuruFocus Real Time Picks. The reduction came after Greenbrier rejected Icahn’s second bid, teaming up with American Railcar (NASDAQ:ARII) as Icahn oversaw plans to merge the two companies. (To read about his first bid, go to Carl Icahn Pursues Greenbrier.)

    Icahn, who owns 55.6 percent of American Railcar’s outstanding shares, now holds a measly 924,262 shares of Greenbrier after the reduction, compared to the 2.7 million he originally owned when he first acquired the stock in November. This currently represents 3.41 percent of Greenbrier’s outstanding shares.  


  • Carl Icahn Pursues Greenbrier Again, Gets Denied

    Investor Carl Icahn is at it again with his activist endeavors. This time, a merger bid.

    In a 13D filing to the SEC reported yesterday, Icahn proposed that railcar manufacturer, American Railcar Industries Inc. (NASDAQ:ARII), where he owns 55.6 percent of its outstanding shares, would acquire fellow railroad freight manufacturer Greenbrier Companies Inc. (NYSE:GBX) at a price of $20 per share.  


  • Icahn’s Oshkosh Reign Slims Down to 6.78%

    As of yesterday, Carl Icahn has reported giving up more of his shares of specialty truck producer, Oshkosh Corp. (NYSE:OSK), trimming 1.2 million shares, his second reduction after deciding to call it quits in his tender offer several days ago when he failed to receive Oshkosh shareholder support. (Read Icahn Backs Off From Oshkosh.) The share disposal deflates Icahn’s ownership down to 6.78 percent from 8.13 percent six days ago. The reduction accounts for 16.57 percent of his overall stake, according to GuruFocus Real Time Picks.

    Over the past few months, Oshkosh confidently battled Icahn in a drawn out, publicized proxy fight. The basis of Icahn’s activist endeavors center around his belief that Oshkosh is undervalued and poorly managed. With every attempt, Oshkosh retaliated by reassuring its shareholders that Icahn’s claims were false and inadequate.  


  • Icahn Abides by Tender Offer Deadline, Backs Off from Oshkosh and Reduces Stake

    Dec. 3 marked the deadline for Carl Icahn to see whether he and Icahn Enterprises LP should continue the $32.50 per share tender offer they extended to shareholders of specialty truck producer, Oshkosh Corp. (NYSE:OSK), one of the companies in Icahn’s takeover radar. Icahn placed a 25 percent tender threshold by the time of the deadline to continue the offer, anticipating Oshkosh shareholder support.

    The result? Only 22 percent of the shares were tendered by the time of the deadline, and no shares were purchased. As part of Icahn’s self-inflicted stipulations, he and Icahn Enterprises LP were left to abandon the tender offer. On top of that, Icahn reported to stepping down from 9.5 percent ownership of the company and reducing his shares by 14 percent, according to GuruFocus Real Time Picks.  


  • Netflix Stock Surges After Announcing Disney Deal, Guru Commentaries

    Today, Netflix Inc. (NASDAQ:NFLX)’s stock soared up to almost 15 percent after announcing a multi-year licensing agreement with The Walt Disney Company (NYSE:DIS), reserving Netflix's exclusive rights to Disney movies after their run in theaters. Though the financial terms of the agreement have not yet been disclosed, Netflix chief content officer, Ted Sarandos, says Disney and Netflix have long shared a mutually beneficial relationship, and this partnership is just “a bold leap forward for Internet television.”

    Recently, Netflix has flooded media headlines about concerns dealing with its programming spending.  


  • Chesapeake Revisited, as Icahn Slides to 8.98% Ownership

    As highly esteemed activist investor Carl Icahn reported increasing his Chesapeake (NYSE:CHK) stake by almost 20 percent today, Chesapeake’s long talked-about issues pertaining to its corporate governance and its financial losses that caused the company’s tumultuous and highly scandalized year, reappeared in the spotlight.

    With a market cap of $11.06 billion, Chesapeake remains as one of the largest producers of natural gas. Headquartered in Oklahoma City, the company’s operations expand to multiple locations such as Utica, Cleveland, Tonkawa, Mississippi and Eagle Ford, to name a few.  


  • Carl Icahn – Netflix Poison Pill Is a Travesty Of Corporate Governance

    Icahn believes that Netflix (NASDAQ:NFLX) is undervalued and does not understand the big short position in the stock. He thinks Netflix will be very difficult to compete with and if the company is put in play a takeover would attract a very large premium.

      

  • A Closer Look at Take-Two Interactive as Icahn Inches Closer to 10% Ownership

    In a 13D filing to the SEC dated Nov. 5, outspoken activist investor Carl Icahn has reported to boosting his stake of Take-Two Interactive Software Inc. (NASDAQ:TTWO) to a total ownership of 9.57 percent, up from 8.7 percent ownership reported in the second quarter of this year.

    This brings his total holding to 8,686,074 shares of Take-Two Interactive to date.  


  • Carl Icahn Says Netflix Shares Were ‘Undervalued,’ Takes 10% Ownership

    Netflix (NASDAQ:NFLX) stock rose almost as high as 20% Wednesday after renowned activist investor Carl Icahn reported his new stake in a 13D filing to the SEC – a total purchase of 5,541,066 shares or 9.98% reign of the company.

    The filing outlines the purpose of the transaction, which amounted to $168.9 million including commissions and premiums, with reasons similar to what Icahn has outspokenly claimed in previous leveraged buyout initiatives.  


  • Why Did Icahn Buy Call Options of NFLX?

    Shares of Netflix (NASDAQ:NFLX) soared when it was revealed that Carl Icahn had taken a large stake in the online video platform.

    In an interview with CNBC, Icahn said:  


  • Icahn's Corporate Governance Could Be Criticized, Too

    Carl C. Icahn recently criticized Oshkosh Corp. (NYSE:OSK) for continuing to "overpromise and under deliver." After the activist investor asked Oshkosh shareholders to sell their holdings to him or replace the truck maker’s board with directors that his team nominated, the existing board recommended rejecting his offer on Friday on the grounds that it undervalues Oshkosh. As it happens, Icahn's own company could improve its corporate governance, too.

    Icahn Enterprises LP (NASDAQ:IEP) is a diversified holding company that owns subsidiaries engaged in businesses ranging from gaming to home fashion. As of December 2011 it consisted of 20 people who are involved in tasks such as identifying and acquiring undervalued assets and businesses. Icahn’s affiliates own around 92.6% of the company’s outstanding depositary shares, raising questions about the extent to which the needs of his few investors get prioritized.  


  • Carl Icahn Buys More Navistar in Share Offering

    Billionaire investor Carl Icahn increased his position in large truck manufacturer Navistar International Corp. (NYSE:NAV) by 15.56% on Oct. 25, according to GuruFocus Real Time Picks.

    The transaction was for 1,594,667 shares, for which he paid $18.75 each, or $29.9 million total. His updated total Navistar holding size is 11,845,167 shares. In an aggressive buying spree, Icahn has made at least 10 purchases of Navistar since July, as he tries to force his will within the company.  


  • Carl Icahn Increases Ownership of Motricity Inc. to 37 Percent

    Billionaire investor Carl Icahn increased his holding of Motricity Inc. (MOTR) by 157.54% on Oct. 11, 2012, according to GuruFocus Real Time Picks.

    The transaction was for 10,684,237 shares. Added to the 6,782,039 shares he already owned since the second quarter of 2011 when he initiated the position for $10 per share on average, he owns a total stake of 17,466,276 shares. This share count represents 30.73% of the company.  


  • Navistar Strengthens Its Corporate Governance, but Problems Remain

    Caving under pressure from the activist investors Carl Icahn and Mark H. Rachesky, Navistar International Corp. (NYSE:NAV) recently strengthened the supervision of its senior managers by replacing three board members. But the truck and engine maker still has more work to do on its corporate governance.

    The former CEO Daniel C. Ustian and his team struggled against headwinds in recent years ranging from the economic crisis to production failures. As Navistar’s stock price sank in the past year, Mr. Icahn has been upping his investment stake and pushing for change. On Sept. 11 he threatened that if Navistar didn’t shake up its uncooperative board of directors, he would “engage in the tiresome and expensive process of protracted litigation and a proxy fight.”  


  • Carl Icahn Discusses His $3B Offer for Oshkosh and His Acquisition Strategy

    Well-known billionaire investor Carl Icahn was on Bloomberg to discuss his just announced buyout offer for Oshkosh Corp (NYSE:OSK) and his reasons for why OSK is a great value.

    -- Oshkosh is undervalued company with poor management and offers compelling value for capital growth.  


  • Carl Icahn Writes to Navistar - My Comments Are Not Threats, But Demands You Should Take Very Seriously

    Dear Fellow Navistar Shareholders:

    In its September 10 press release the Navistar Board dismissed my September 9 letter as “threats, attacks and disruption rather than continuing constructive engagement”. As that Board is well aware, I have a $330.9 million investment in Navistar, a company with a market capitalization that has fallen from just under $3.5 billion to $1.7 billion in the past 12 months. The top four holders alone own approximately 56% of Navistar stock. Meanwhile, total ownership of the Board and management is less than 1.5%, nearly all of which has been granted to them by Navistar (in other words by you and me) -- they have no skin in the game. I have a message for the Navistar Board: My comments are not threats, they are demands that I take very seriously in light of my substantial investment, and as should you, in light of your fiduciary obligations.  


  • Carl Icahn Increases Stake in Forest Laboratories

    Carl Icahn added 4.52% to his stake in Forest Laboratories Inc. (NYSE:FRX) at the average price of $34.68 on Aug. 24, 2012, according to GuruFocus Real Time Picks. He owns 30,133,346 shares. The stock price has changed by 2%.

    Forest Laboratories Inc. and its subsidiaries develop, manufacture and sell both branded and generic forms of ethical drug products which require a physician's prescription, as well as non-prescription pharmaceutical products sold over-the-counter. Forest Laboratories Inc. has a market cap of $9.22 billion; its shares were traded at around $34.83 with a P/E ratio of 11.8 and P/S ratio of 2. Forest Laboratories Inc. had an annual average earnings growth of 9.7% over the past 10 years. GuruFocus rated Forest Laboratories Inc. the business predictability rank of 4-star.  


  • Carl Icahn Added 7.44% to His Stake in Forest Laboratories at the Average Price of $34

    Carl Icahn added 7.44% to his stake in Forest Laboratories Inc. (NYSE:FRX) at the average price of $34.33 on 08/21/2012, as reported in the latest insider filings by Carl Icahn. He owns 28,323,697 shares. Forest Laboratories Inc. and its subsidiaries develop, manufacture and sell both branded and generic forms of ethical drug products which require a physician's prescription, as well as non-prescription pharmaceutical products sold over-the-counter. Forest Laboratories Inc. has a market cap of $9.09 billion; its shares were traded at around $34.66 with a P/E ratio of 11.6 and P/S ratio of 2. Forest Laboratories Inc. had an annual average earnings growth of 9.7% over the past 10 years. GuruFocus rated Forest Laboratories Inc. the business predictability rank of 4-star.

    Several gurus hold positions in FRX. Richard Pzena owns 11,128 shares as of 06/30/2012, an increase of 231.88% from the previous quarter. This position accounts for 0.0045% of the $8.56 billion portfolio of Pzena Investment Management LLC. Joel Greenblatt owns 379,743 shares as of 06/30/2012, which accounts for 0.98% of the $1.36 billion portfolio of Gotham Capital. John Hussman owns 350,000 shares as of 06/30/2012, which accounts for 0.23% of the $5.32 billion portfolio of Hussman Economtrics Advisors.  


  • Carl Icahn Talks His Plan for Forest Labs

    Well-known activist investor Carl Icahn was on CNBC to discuss his plans for Forest Lab (NYSE:FRX) after he won one seat on their board. Icahn has been locked in a proxy battle with Forest labs to unlock the value as generics attack two kay drugs of Forest Labs

    -- Bittersweet victory for Carl Icahn as he wins one board seat on Forest Lab's board vs. four he was fighting for.  


  • Carl Icahn’s Latest Buys: CHK, CVI, NAV; Sells CMC

    Billionaire activist investor Carl Icahn just reported his Q2 portfolio. His portfolio reveals his 50 million shares of Chesapeake Energy (NYSE:CHK), which is 8.9% of CHK’s total shares outstanding. Mr. Icahn also added to his existing positions in CVR Energy, Navistar International Corp. As of 06/30/2012, Icahn Capital Management LP owns 17 stocks with a total value of $10.5 billion. Chesapeake Energy stock has lost more than 40% over the past 12 months as investors questioned the corporate governance and the CEO compensation of the company. Carl Icahn was saying that the board of the Chesapeake was “just sitting there.” He has urged for a change with the company and warned that he’s prepared to take immediate action if the company does not respond to his requests. Chesapeake Energy CEO Aubrey McClendon recently bought shares. But as we write before, don’t take that as a sign that the company stock will go up. Chesapeake is now the third largest position for Carl Icahn and the stock has recovered by almost 30% from its lows in May.

    These are the details of the buys and sells of Carl Icahn over the past quarter.  


  • Carl Icahn Turns Over $3 Billion to His Son to Allow Him to Prove His Mettle

    And I thought my dad was a pretty nice guy! Perhaps the corporate raider gene was passed down.

    Carl Icahn agreed to allocate as much as $3 billion to a management duo composed of his son Brett and David Schechter, expanding their role in running the 76- year-old’s investments.  


  • Carl Icahn Buys More Navistar

    Carl Icahn, activist investor of Icahn Enterprises, added 11.12%, or 1,787,388 shares of Navistar International Corp. (NYSE:NAV) at between $22 and $23 per share on July 11. After the transactions, he owns 9,038,814 shares, or 13.19% of the company.

    Navistar International is a holding company of military vehicle, diesel engine, RV, bus, and other vehicle-related businesses. Icahn initiated a position in the company in the third quarter of 2011 buying 1,765,647 shares at an average price of $44. In the fourth quarter of 2011, he added 5,485,779 shares at an average price of $38.50. In the current second quarter he has been adding shares more aggressively, with four new buys in a little over a month.  


  • Icahn: Forest Labs board like Chesapeake, 'just sitting there'

    Billionaire investor Carl Icahn spoke with Bloomberg Television’s Trish Regan and Adam Johnson on “Street Smart” today about Forest Labs and said that CEO Howard Solomon is a “friendly guy,” but that “he says we’d be a disturbance…We would be, to his plans. His plans, I think, are to swing for the fences and get his son in to be CEO. We would obviously stand up against that. I think that’s why he doesn’t want us on the board.”

    Icahn also said that the market is “too high at this point” and stock prices “have gone a bit ahead of themselves.”  


  • Carl Icahn Perturbed with Forest Labs: Interview

    Carl Icahn discusses the angry letter he sent to Forest Labs (NYSE:FRX) concerning the company's succession plan:

      


  • Victory for Carl Icahn and Mason Hawkins: Chesapeake Shakes up Board, Replaces 4 Members

    Chesapeake Energy (NYSE:CHK), the U.S. energy explorer battered by collapsing natural-gas prices and growing investor mistrust, will replace almost half its board under pressure from billionaire investor Carl Icahn. Four of the company’s eight non-executive directors will be replaced with nominees of the largest shareholders, Southeastern Asset Management Inc. and Icahn, Chesapeake said in a statement today. Icahn triggered the overhaul by acquiring a 7.6 percent stake last month to rein in what he saw as chairman and CEO Aubrey Mclendon's risk-taking and overspending that led to a $22 billion cash crunch and has eroded the share price by 26 percent this year.

    McClendon has been under a cloud since a series of media reports in March and April about personal loans he obtained using minority stakes in company-owned wells that he’d been allowed to gather for his private portfolio. The company announced May 1 that he will step down as chairman when a replacement is chosen.  


  • Cummins: A Consistent Performer

    If I told you about a stock that's delivered gains of nearly 20% to investors for the past five years, then I imagine you'd be a little skeptical. After all, the past five years have been some of the most tumultuous years in recent memory. And even if it weren't, 20% a year is a pretty tough benchmark to meet.

    Warren Buffett, Carl Icahn, Bill Ackman -- these guys would all kill to even come close to that, not to mention probably take on a lot of risk in the process.  


  • Activist Investor Carl Icahn Bought Into Chesapeake Energy

    Activist billionaire investor Carl Icahn just reported that his funds have bought an aggregate amount of 50 million shares of Chesapeake Energy (NYSE:CHK), which is about 7.56% of total shares outstanding. Carl Icahn started to buy the shares on April 19 at $18 a share and has added to the positions as the stock prices collapsed to around $14. His last purchase was on yesterday, May 24. His average cost is about $15.7 a share. Today Chesapeake stock closed at $15.99.

    Chesapeake has attracted a lot of attention lately as investors questioned the interest and compensation of its CEO Aubrey McClendon. The company announced the day before yesterday that it has implemented significant changes to the compensation of its CEO and the board of directors, which includes reducing the annual compensation of directors by 20% and reducing the CEO total compensation for 2011 by 15%. The company stock has lost close to 30% year to date. Since its peak in 2008, the stock has lost close to 80%.  


  • Shareholders Agree to Carl Icahn's Offer to Buy CVR Energy

    Carl Icahn’s holding of CVR Energy Inc. (NYSE:CVI) by 382% after a majority of shareholders agreed to accept his $30-per-share tender offer that valued the company at $2.6 billion, according to GuruFocus Real Time Picks. Icahn now owns 69 percent of the Sugarland, Texas-based refiner and marketer of petroleum fuels and majority owner of CVR Partners LP (NYSE:UAN), a nitrogen fertilizer producer.

    CVR Energy’s board urged shareholders to reject the offer from Icahn, as it represented an 8.7 percent premium over its closing stock price as of Feb. 15, 2012, the last day before Icahn announced the offer, and 3.9 percent to its highest closing stock price during the six months prior to the announcement of the offer, among other reasons.  


  • Icahn Continues to Bet on WebMD

    Carl Icahn raised his stake in WebMD (NASDAQ:WBMD) to 13.12% from 11.64%. Icahn paid $203.2 million for the additional shares which are up almost 5% on the news.

    Last fall, Icahn purchased a minority stake in WebMD with hopes that he could push for a share buyback around $30 per share. Unfortunately, shares have languished since Icahn made his investment. The company only authorized a $150 million share buyback which is a far cry from the $1 billion that Icahn was pushing for.  


  • Icahn Sues Amylin, Pushes for Sale

    Well-known billionaire activist investor Carl Icahn is up for new game. Carl Icahn sued Amylin Pharmaceuticals Inc. to block enforcement of a bylaw that prevents the billionaire investor from launching a proxy fight that could lead to a sale of the maker of diabetes drugs. Icahn, whose 8.94 percent stake has made him Amylin's third-largest shareholder, faulted the company for failing to reveal its rejection of a $3.5 billion unsolicited takeover bid, or $22 per share, from Bristol-Myers Squibb Co. (NYSE:BMY).

    In a complaint filed in Delaware Chancery Court, Icahn urged that Amylin not be allowed to enforce a bylaw requiring shareholders to provide advance notice of board candidates.  


  • Carl Icahn Is Not Interested in RIMM

    Carl Icahn, Icahn Enterprises chairman, discusses his tender offer for CVR Energy (CVI), and now holds 69% of the company's shares. Icahn also weighs in on whether Amylin Pharma (AMLN) should be sold, and reveals his thoughts on Research-In-Motion (RIMM), with the Fast Money traders.

    Here is the video:  


  • Forest Laboratories (FRX): Greenblatt and Graham with a Twist of Icahn and Owens

    Add all these guru investors into the mix, toss in some self-research, and you may have just discovered a great stock that might fit perfectly into your portfolio.

    Business:  


  • Pay for Top-Earning U.S. Hedge Fund Managers Falls 35%, AR Says

    Average pay for the 25 top earners was $576 million last year, down from $883 million in 2010, according to an annual ranking published by AR Magazine. In 2009, the figure stood at $1.1 billion.

    March 30 (Bloomberg) -- Compensation for the highest-paid U.S. hedge-fund managers plunged 35 percent in 2011 to $14.4 billion after the European sovereign debt crisis pushed the industry to its second-worst year ever, a survey showed.  


  • Carl Icahn Comments about Leaving $345 Million on the Table by Selling Lionsgate

    Corporate raider Icahn had the following comments:

    - Sold Lionsgate (NYSE:LGF) and the stock doubled.  


  • The Stock That You Can Buy Much Cheaper Than Carl Icahn; Trading at the Lowest Valuation Ever

    One signal of undervalued position is when the investors can buy the stock at the discount to its 10% owner, and there are a quite a number of gurus are holding onto the stock. That happens with one mid-cap stock which happened to experience the growing performance over the years. That company is called WebMD Health (NASDAQ:WBMD). Over the years, WBMD have experienced quite a roller coaster in its stock price, with the range of $15 - $60 since 2006. After the gradual advance since the bottom at the end of 2008, from $15 to $58, recently, it experienced the significant drop, of nearly 30% from $38 to only $27 within just 02 weeks.

      


  • Buffett Ratio Guru Portfolio Analysis - The Portfolio of Carl Icahn Analyzed

    The following is an analysis of the most current portfolio of Carl Icahn. This analysis will use a system that I designed that is based on the ratio that Warren Buffet released to the public in 1986, which he coined “Owner Earnings.” For those new to this type of analysis, I would recommend reading an introduction to my system here.

    My goal is ultimately to analyze the portfolios of each guru highlighted here on GuruFocus, and then to subsequently re-analyze them every quarter when possible as changes are made. My purpose in writing these articles is to show the power of Buffett’s ratio in analyzing stocks, ETFs, mutual funds and individual portfolios. If one can fill their portfolios with companies that score high using my system and avoid those which fail, one should be able to increase the probability of becoming a successful investor, in my opinion.  


  • Carl Icahn Increases WebMD Stake 9.6% as Shares Fall 26%

    Carl Icahn, owner of hedge fund Icahn Management LP, bought more WebMD (NASDAQ:WBMD), according to data from GuruFocus Real Time Picks. Icahn is known for his activist investing style. He typically invests in companies that are not glamorous or out of favor. From January 10 through January 12, Icahn made three purchases of WebMD shares totaling 545,587, at about $26 per share. He now owns 6,237,861 common shares, or 10.95%, of the company. He initiated a position in WebMD with 2,179,201 shares at an average cost of about $36 per share in the third quarter of 2011. He has been adding to his stake since then as the price has dropped 26% since the beginning of the year. It has a 52-week range of $25.01 to $58.55.

    WebMD defines itself as “the leading provider of health information services, serving consumers, physicians, other healthcare professionals, employers and health plans.” Its stock price plunged 29% on January 10 as it made several game-changing announcements. First, its CEO, Wayne T. Gattinella resigned from his position, and CFO and COO Anthony Vuolo will serve as interim CEO.  


  • Icahn and Soros Lose on WebMD

    Carl Icahn has taken considerable losses on his 8% stake in WebMD over the past few days.

    Soros Fund Management also owns 5.6% of the entire company and has been adding shares recently.  


  • Carl Icahn Sends Open Letter to Shareholders of Oshkosh Corporation:

    Carl Icahn today issued the following open letter to shareholders of Oshkosh Corporation:

    Dear Fellow Oshkosh Shareholders,  


  • Carl Icahn Gets Hostile with Commercial Metals (CMC)



  • Icahn Sets Deadline for Commercial Metals Company (CMC)

    Carl Icahn submitted a bid for Commercial Metals Company (NYSE:CMC) last week that prompted an odd response from the company. Icahn sent a follow-up letter that was vintage Icahn. It seems management continued to ignore him, so late last week he sent a further letter to the company demanding action by yesterday at 9 a.m. Icahn’s letter:
    [quote]CARL C. ICAHN  


  • Commercial Metals (CMC) Rejects (with Explanation) Takeover Offer from Carl Icahn



    Board Concludes Mr. Icahn's Offer Substantially Undervalues the Company and Is Opportunistic  


  • Carl Icahn’s November 28, 2011 Letters to Takeover Target Commercial Metals Company

    Yes, two letters in the same day. One to detail the offer. The second to reply to management's reaction to the first.

    I don’t think this one will fall into the “friendly” category.  


  • Icahn bids for Commercial Metals Company (CMC)

    Carl Icahn submitted a bid today for Commercial Metals Company (NYSE:CMC), a manufacturer and recycler of steel and metal products in the United States and internationally. Icahn submitted the bid by letter (set out below), which prompted an odd response from CMC management (also set out below). Icahn’s final response (set out last) to CMC’s press release is vintage Icahn.

    Icahn’s bid letter:  


  • Weekly CEO Buys Highlight: KMI, VGR, SIRO, PNK, MASI

    According to GuruFocus Insider Data, these are the largest CEO buys during the past week.

    Kinder Morgan (NYSE:KMI): Chairman and CEO, 10% Owner Richard D Kinder Bought 19,723,865 Shares  


  • Carl Icahn Adds NAV, Reduces CLX and LGF

    Carl Icahn is a notorious activist investor, swooping into companies and demanding changes, mergers and sells. In March, he returned money to shareholders and now manages only his own money. Icahn explains his investing style this way: “The consensus thinking is generally wrong. If you go with a trend, the momentum always falls apart on you. So I buy companies that are not glamorous and usually out of favor. It is even better if the whole industry is out of favor.” According to GuruFocus Real Time Picks, Icahn recently filed 13-Ds reporting that he added Navistar International (NYSE:NAV) and reduced Clorox (NYSE:CLX) and Lions Gate Entertainment (NYSE:LGF).

    Navistar International (NYSE:NAV)  


  • Icahn and Soros Load Up on WebMD

    Both George Soros and Carl Icahn have loaded up on shares of Internet health portal WebMD (NASDAQ:WBMD) in the past few days.

    Billionaire Carl Icahn bought a 7.94% stake in WBMD. Icahn said the shares were undervalued from a long-term perspective, according to a regulatory filing.  


  • Icahn Not Interested in RIMM

    It was previously rumored that activist hedge fund manager Carl Icahn was purchasing shares of Research In Motion (RIMM). Today, Icahn killed those rumors and said he was not interested in RIMM.

    Icahn told CNBC, “I can only say right now that it's certainly not on our radar.”  


  • Six Gurus Make Top of Forbes 400 List of Richest Americans

    Forbes recently released its list of the top 400 richest Americans. Several gurus were in the top 10, and 25, including Bill Gates and Warren Buffett, who were No. 1 and No. 2 on the list. Below are the gurus, a brief description, their estimated net worth, and rankings.

    1. #1 at $59B: Bill Gates, founder of Microsoft and now philanthropist, poses at Pariser Platz square during a brief stop at BrandenburgGate on April 6, 2011 in Berlin, Germany. Gates is in Berlin to meet with German government officials, including Chancellor Angela Merkel and Development Minister Dirk Niebel, to discuss aid for developing countries and promote his one.org charity initiative and the Bill and Melinda Gates Foundation.  


  • Carl Icahn on Third Bid to Take Over Clorox

    Billionaire investor Carl Icahn talks about his his third takeover offer in two months for Clorox Co. (NYSE:CLX). Icahn has been campaigning to oust Clorox's directors and put the company up for sale. If he succeeds in replacing Clorox’s board and the company still doesn’t find a buyer, Icahn said he will pay $78 a share, or $10.3 billion in cash and notes to “back stop” the sale process, according to a statement today. Icahn speaks with Lisa Murphy and Matt Miller on Bloomberg Television's "Street Smart." (Source: Bloomberg)

      


  • Without Icahn, Lionsgate (LGF) Is a Risky Business

    Carl Icahn ended his bid for Lionsgate Entertainment (NYSE:LGF) yesterday. Icahn agreed to sell his shares for $7 which is roughly what he paid for them two years ago.

    Icahn was diplomatic upon his exit and wished the company well in a statement. “As some have noted, my own ‘slate’ is pretty full at the time, and I therefore determined that it is a good time to exit,” he said.  


  • Activist Investor Carl Icahn on Genzyme Deal

    Carl Icahn is famous for being an activist investor, where he buys a big stake in a corporation that enables him to influence the board. He has said, “I make all these billions because there are so many companies with problems that can be easily fixed.” So he is one kind of investor who involves himself in the decision making process of the company. He comes in and restructures/fixes the company's problems to drive its share price much higher.

    Icahn has replied when being asked how he has done it: “It’s somewhat instinctive – like a top open-field runner and he’s running up the field and scores a touchdown. I don’t think you can ask him, “What was your procedure, and why’d you cut right or left out there?””  


  • Tuesday Value Overview

    Today’s edition refers to the Bank of Ireland (IRE), Lions Gate (NYSE:LGF), and Clorox (NYSE:CLX). We’ll start with happy birthday wishes for Warren Buffett today, who turns 81 today. For those worried about Buffett’s age, which seems to be a lot of reporters today, take a quick glance at an actuarial table. An average 81 year old has a good 7.5 years left. I think we all can agree that Buffett is not average. Turnaround artist Wilbur Ross is betting big on Ireland. He joined four other investors buying up a 34.9% stake in the Bank of Ireland. Ross believes Ireland is the country to bet on because they cut spending so quickly and severely and won’t have continued sovereign debt problems like the rest of Europe. The Bank of Ireland was forced to raise $7.4 billion earlier this year.

    Lions Gate is down big after hours as Carl Icahn agrees to sell his stake. Each party will agree to dismiss and release any claims against each other. A Lions Gate company will buy about a fourth of Icahn’s 44 million shares, a director’s entity will buy about a fourth, and Lions Gate will have the right to direct where the other half will be sold in the next 35 days. Icahn will sell the stake for $7 per share. This should leave Icahn with a profit, but nearly as much as he would have liked. Icahn has decided to bail because his “slate is pretty full at the time.” In fact, he made another offer today for Clorox (NYSE:CLX).  


  • Carl Icahn: The Purchase of Motorola Mobility for Google Was "A No Brainer"

    Billionaire investor Carl Icahn spoke with FOX Business Network’s (FBN) Liz Claman regarding Google's $12.5 billion deal to purchase Motorola Mobility. Icahn said he didn’t think “anybody would have bought the whole company” and it was crucial that the Mobility part of the business was spun off in order to complete the deal. Icahn went on to discuss the recent op-ed by Warren Buffett saying, “wealthy can and should pay more. I don’t think they would fight it too much.”’

    On the purchase of Motorola Mobility:  


  • Monday Value Overview

    There was a lot of activity today with 13F filings and buyouts. Carl Icahn did well with Motorola Mobility’s (NYSE:MMI) buyout offer from Google (NASDAQ:GOOG). I also have information on Motorola Solutions (NYSE:MSI), Biogen (NASDAQ:BIIB), Clorox (NYSE:CLX), Berkshire Hathaway (NYSE:BRK.B), Dollar General (NYSE:DG), and Verisk Analytics (NASDAQ:VRSK). Footnoted.com has some great information on Sterling Construction (NASDAQ:STRL), Lincoln Educational Services (NASDAQ:LINC), and BPZ Resources (BPZ). We close out with some action from Tiger Management about Teva Pharmaceutical (TEVA), Concho Resources (CXO), LyondellBasell (LYB), and ChinaCache International Holdings (CCIH).

    Carl Icahn strikes again, making about $350 million today. Not bad for a day’s work. Icahn owns about 27 million shares of Motorola Mobility and Google kicked off the day by announcing a $40 per share offer of the handset maker. It appears Google is particularly interested in MMI’s patents and will operate the company as a stand-alone subsidiary. There’s about a 5% spread still on the table. I haven’t seen Icahn’s Q2 picks yet, but at the end of Q1 Icahn’s top holdings were Motorola Solutions, Biogen, Clorox, and then MMI.  


  • Carl Icahn: The Sell Off Is Over Done

    Carl Icahn spoke with CNBC. He is now only managing his own money. He talked about the market, the regulation. He thinks that corporations have the best balance sheets ever.

      


  • Monday Value Overview

    We started off the week with a nightmare. Bank of America (NYSE:BAC) may have been the worst. Berkshire Hathaway (NYSE:BRK.B) made an offer to TransAtlantic Holdings (TRH) resulting in TRH being one of the very few positive stocks on the day. I’ve got a McGraw-Hill (MHP) crack, a Carl Icahn video, some stats from today, and a suggestion to ignore the crowd.

    What can you say about Bank of America? The stock totally fell apart today. CNBC reported that David Tepper sold out of his stake. Dick Bove said they won’t need to raise more capital, but others disagree. This seems like a concerted effort by hedge funds to force Bruce Berkowitz to make major sales. It just goes to show how little day to day trading has to do with actual fundamentals. This makes Berkowitz’s August 10 conference call with Brian Moynihan even more compelling. For those investors not concerned with the short term, this stock at this price is as good a deal as it has ever been.  


  • Monday Value Overview

    Monday’s edition reluctantly touches on the debt ceiling, has a link to an attack against Carl Icahn saying he destroyed Yahoo (NASDAQ:YHOO) and Motorola (NYSE:MMI), follows up on the fake Apple (APPL) store in China, and has a few picks from a value shop out in California that includes Wal-Mart (NYSE:WMT), Disney (NYSE:DIS), and Chesapeake Energy (NYSE:CHK). Finally, we close out with a Buffett quote that could describe the debt ceiling debate, the crisis in Europe and, really, the stock market this whole year.

    We had a big up and then down and then slightly down day today. The announcement of a debt ceiling agreement among Congressional leaders last night caused markets to skyrocket at the open. They were then hurt by economic indicators that say the economy has significantly slowed. Pain continued with bad news from Europe, before ending the day only down somewhat. The Congressional votes will come tonight and the President will sign the bill lifting the debt limit soon thereafter. Immediately after, Democrats will call for higher taxes on hedge fund managers.  


  • Friday Value Overview

    This Friday’s edition links to an argument in favor of a housing boom, a note about Caterpillar’s (NYSE:CAT) earnings, a great post using Interdigital (NASDAQ:IDCC) and Nortel (NT) as examples and noting Carl Icahn’s ideas for Motorola Mobility (NYSE:MMI). I’ve also got a rumor about Steven Cohen buying Facebook shares and, finally, thoughts and prayers for Norway.

    Here’s an interesting and unique take on the housing market. The Economist has a piece referring to a blog post by Karl Smith. I admit to not having heard of Smith before, but he uses the argument that construction and supply is well below replacement rates. New household formation has dropped significantly, but a good portion of that is from things like more roommates in one house, kids moving back in with parents, and vice-versa. We always see this when unemployment is high, so when it drops, we can expect higher household formation and a supply and demand problem with existing units. That doesn’t mean sales will necessarily pick up, because of difficulties getting mortgages and lack of desire to own, but it will mean there will be a shortage of units. Rents have already picked up strongly. Smith thinks this course-correction will come in the next 12 months. I don’t know about that, but it will come, and Smith is right that there will be a two year period with significant supply pressure. That just might be enough to make homeowners more optimistic.  


  • Wednesday Value Overview

    The middle of the week was full of earnings releases. The markets were slightly down, led by techs. Carl Icahn made more news with his Clorox (NYSE:CLX) bid. I’ve got a link to the Michael Burry profile from last night. American Express (NYSE:AXP) had a great quarter. Bank of America (NYSE:BAC) was so-so but oversold. Genworth Financial (NYSE:GNW) was horrendous. Finally, I’ve got a link to a very funny story on Apple (APPL), and it doesn’t have a thing to do with Steve Jobs.

    Carl Icahn was not happy with the response he got from Clorox to his previous $76.50 offer. It seems obvious to me that Clorox didn’t take Icahn seriously and didn’t think his idea of shopping Clorox to a different bidder was feasible or attractive. In response to him, the Board installed a poison pill plan to limit further purchases by Icahn. Icahn’s new bid is $80 per share, which equals $10.7 billion. To further show he is serious, he offered to put $6.2 billion in escrow if Clorox would negotiate with him. This might be a tough one for Icahn to win, but if you read the letter he sent to the Board, you might come away with the impression that he’ll do anything just to get back at them.  


  • Billionaire Icahn's Bid for Clorox

    Clorox has recently rejected the $10 billion bid of billionaire Carl Icahn as the bid seemed too low for the firm.

    Clorox is a 98 year-old manufacturer and marketer of consumer and institutional products. The products are varied including bleach and cleaning products, natural cleaning and laundry products, auto-care products, dressings and sauces, water-filtration systems wraps and containers, and natural personal care products. The firm sells its products primarily through mass merchandisers, grocery stores and other retail outlets.  


  • Carl Icahn Says Clorox (CLX) is "Very Undervalued"


  •   


  • Friday Value Overview

    The close of the week brings us big news from Google (NASDAQ:GOOG), a piece on Charlie Munger, Carl Icahn’s Clorox (NYSE:CLX) offer and his comments about Procter & Gamble (NYSE:PG), Kimberley-Clark (NYSE:KMB), and Colgate-Palmolive (NYSE:CL), Citigroup (NYSE:C) earnings, and the latest edition to CNBC’s Squawk Box.

    Google reported blow-out earnings, both with revenue and earnings, in their release yesterday. Shares skyrocketed higher, adding more than $20 billion to their market cap. Adding the value equivalent of a group of pre-IPO companies in just one day is not an easy thing to do. Some are even chattering that Google is now, again, a growth company. A few more days like this and it certainly will be growing out of the value camp it's been stuck in over the last few years.  


  • Carl Icahn Still Looking for Trouble

    Fortune article on the long time corporate agitator. Apparently he has a 25.3% rate of compounded return since 1990. That will turn a little bit into a whole pile of money.

    FORTUNE: Why did you decide to return all of the money from outside investors in your hedge fund, and close the fund to new investors?  


  • Add Notes, Comments

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    User Comments

    Bashe
    ReplyBashe - 1 year ago
    you got Icahn going from 6 million to 104 million you guys charge us for information you got to get the numbers right. does anyone there read the stuff you post?
    Robertbradf@google
    ReplyRobertbradf@google - 1 year ago
    Icahn is known for acquiring large stakes in companies with the intent of changing their corporate strategies.http://bit.ly/19cSEv3
    Tnguye48
    ReplyTnguye48 - 1 year ago
    Is APPLE missing in this portfolio?



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