Final Note

Ackman out at JCPenney, Icahn investing in Apple?

Kai Ryssdal Aug 13, 2013
HTML EMBED:
COPY
Final Note

Ackman out at JCPenney, Icahn investing in Apple?

Kai Ryssdal Aug 13, 2013
HTML EMBED:
COPY

This final note on the way out, which comes with the observation that it’s been a busy day for what’re commonly called “activist investors.”

First, a guy named Bill Ackman, who runs a hedge fund called Pershing Square Capital Management, was squeezed off the board of JCPenney this morning. It’s a kind of inside baseball thing involving who’s gonna actually run the struggling retailer, but it does get me to the juicy bit of today’s activist shareholder news.

Carl Icahn — activist-shareholder extraordinaire — tweeted this this afternoon:

 

 

  

 

 

Icahn apparently wants the company to buy back more of its stock, which — on the news that Icahn’s in the game — rose almost 5 percent today.

 

 

As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.

Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.

Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.