Proxy adviser backs Apple in stock buyback fight with Icahn

A prominent proxy advisory service has sided with Apple, recommending to its clients that they vote against a proposal by activist investor Carl Icahn that calls on the company to initiate a $50 billion stock buyback.

In a report to clients Sunday, Institutional Shareholder Services said the share repurchase proposal was unnecessary after recent stock buybacks and dividend payouts.

"In light of these good-faith efforts and its past stewardship, the board's latitude should not be constricted by a shareholder resolution that would micromanage the company's capital allocation process," according to the report, which was obtained by … Read more

Apple's stock buyback not a lasting tonic, says analyst

Apple may have pleased investors with its recent stock buyback, but analyst Mark Moskowitz doesn't see the news as a big cause for celebration.

Speaking with The Wall Street Journal this week, Apple CEO Tim Cook revealed that the company had taken advantage of the recent price drop to repurchase $14 billion of its own shares. Activist investor Carl Icahn and others have been pressing Apple to move more aggressively to buy back stock. However, the buyback doesn't do much to address other problems facing the company, according to JP Morgan's Moskowitz

The analyst said he would … Read more

Apple goes big with a $14 billion stock buyback

Apple took advantage of investor disappointment with the company's first-quarter financial results to accelerate its stock buyback plans.

The company repurchased $14 billion of its own shares in two weeks, according to The Wall Street Journal. Apple CEO Tim Cook told the Journal Thursday that he intends for the move to be both "aggressive" and "opportunistic."

"It means that we are betting on Apple. It means that we are really confident on what we are doing and what we plan to do," Cook told the Journal. "We're not just saying that. … Read more

Icahn disses Apple board for not boosting stock buyback

Activist investor Carl Icahn is on the Apple warpath again.

In a tweet posted Wednesday, Icahn said that "Apple's board is doing great disservice to shareholders by not having markedly increased its buyback." He also promised an in-depth follow-up letter that no doubt will detail his ongoing grievances.

Icahn has been battling to convince Apple to direct more of its $150 billion toward stock repurchases. Initially calling for a buyback of $150 billion worth of shares, Icahn scaled back the amount in December, instead asking Apple to commit to at least $50 billion of share repurchases in 2014.… Read more

Icahn beats Apple buyback drum (again) with new proposal

Billionaire investor Carl Icahn made his latest move in trying to get Apple to increase its stock buyback program.

On Wednesday, he tweeted that he would make a "precatory proposal" to Apple that calls for an increase in the buyback program to be voted on by shareholders at the company's next annual meeting. Since it's a precatory proposal, even if Apple shareholders approve the measure, the company would not be bound to the decision.

Ichan has been pushing Apple to increase the amount of money it is spending to buy back shares of its own stock, … Read more

Carl Icahn to Apple: Now's time for $150B stock buyback

Billionaire investor Carl Icahn has been beating the Apple stock buyback drum for a while. Now he's putting his call to action in writing.

The activist investor and majority shareholder of Icahn Enterprises has been a vocal advocate of Apple increasing its buyback program for shareholders, which Icahn believes is too small. To further his cause, he has written a detailed letter to Apple CEO Tim Cook and, on Thursday, posted it on his newly launched Web site, Shareholders' Square Table.

In the letter, which was first revealed on the Street Insider site, Icahn reiterated his call for Apple … Read more

Eat and tweet: Icahn dishes on dinner with Apple CEO Tim Cook

Carl Icahn's dinner with Tim Cook may end up costing Apple $150 billion.

No, it's not the dishes that were expensive, but rather the share buyback program that Icahn proposed.

After dining with Apple's CEO, the activist investor recounted the evening in a short tweet on Tuesday: "Had a cordial dinner with Tim last night. We pushed hard for a 150 billion buyback. We decided to continue dialogue in about three weeks."

Apple already has a share buyback plan in the works. In April, the company said that it would repurchase $60 billion worth of stock, … Read more

What happens to used iPhone prices before and after an Apple event? (chart)

It's no secret the price of a gadget typically goes down right after a new model comes out.* The real question is just how much?

Gadget trade-in service Gazelle has mapped that out for the last two models of Apple's iPhone and has projected trade-in values for the iPhone 5 following Apple's expected announcement of new models early next month:

The gist: the price Gazelle pays for iPhones declines day by day until the device launches, when there's a big drop.

The prices, of course, are only for Gazelle, which is one of several gadget buyback … Read more

Icahn to debate share buyback with Apple CEO next month

Activist shareholder Carl Icahn took to Twitter again on Thursday to advance his plan to amplify Apple's plan to buy back its own shares, saying he and Apple Chief Executive Tim Cook are scheduled to discuss the matter soon.

"Spoke to Tim. Planning dinner in September. Tim believes in buyback and is doing one. What will be discussed is magnitude," Icahn said in a tweet. Buying back shares can increase a company's stock price, and Icahn's tweets about the matter last week, when he disclosed that he has a "large position" in Apple … Read more

Get top dollar for iPhone trade-ins

Wednesday's Update pays top dollar to bring you the top stories:

Analysts are predicting that as many as 10 million iPhones could be sold if Apple launches it in September. That's because many reports are pointing to a Sept. 21 release date for the next model. So if you're planning on selling your old phone for cash, you should plan ahead to make the most money. Trade-in sites like eBay Instant Sale, NextWorth and Gazelle are already seeing an increase of visitors looking to sell an iPhone 4S or iPhone 4.

You can get more money for … Read more