It has been a busy week for Carl Icahn as it was revealed he had built a 100 million-share stake in Dell (DELL) and is basically demanding a $9 special dividend and is threatening years of litigation. Now yesterday he increased his Herbalife (HLF) stake to 15.55% as he added another 2 million shares. Keep in mind, under an agreement with the board, Icahn has the right to purchase up to 25% of Herbalife. The fight is certainly getting interesting but Ackman only needs to get the attention of one fed to investigate his claims. You have to love their CNBC argument.
Google (GOOG) is in the news as it plans to lay off 1,200 jobs from its Motorola Mobility which would represent 10% of the unit’s staff. This comes on top of 4,000 jobs cut that occurred in August and will affect employees in the U.S., China and India. Google made its largest acquisition ever by buying Motorola Mobility for $12.5 billion last year, aiming to use Motorola Mobility's patents to fend off potential lawsuits on its Android mobile platform and expand beyond its software business. The layoffs come at a time when Google’s stock is making all-time highs.
Google has been a mixed bag for Gurus has bulls and bears have lined up on both sides. My guess is that those reducing or selling their positions are simply taking profits.
Google bulls or Gurus who have been adding to or establishing a position include:
- Steve Mandel, Lone Pine Capital
- Robert Karr, Joho Capital
- David Rolfe, Wedgewood Partners
- David Einhorn, Greenlight Capital (New Buy,0.75 impact to portfolio)
- John Griffin, Blue Ridge Capital
- Dodge & Cox
- Tweedy Browne
- Jeremy Grantham, GMO
- Ron Baron, Baron Funds
- Chuck Royce , Sold Out
- RS Investment Management
- Steven Cohen, SAC Capital
- Jim Simmons, Renaissance Technologies
- Bruce Kovner, Caxton Associates
- John Burbank, Passport Capital
- Julian Robertson, Tiger Management
- Alan Fournier, Pennant Capital, Sold Out
- Ken Heebner, Capital Growth Management, Sold Out
- Chase Coleman, Tiger Global Management, Sold Out