Apple (NASDAQ:AAPL) saw some late action, sparked by a tweet, to reverse losses from earlier and end the day 1.4 percent up at $448.97. Here’s a cheat sheet to the top stories around the stock on the day:
A Stock Split on Way?
Doug Kass has hardly been an Apple fan in the recent past, but the Seabreeze Partners president made a prediction on Tuesday that sent the iPhone maker’s stock bouncing up. Kass said Apple was likely to announce a stock split at Wednesday’s annual shareholders meeting, adding that he held long positions in the company.
“High above the Alps my Gnome is hearing a rumor that Apple will announce a stock split at tomorrow’s shareholder meeting,” Kass tweeted.
While it’s not clear what, if anything, Apple has in store for shareholders at the meeting as far as capital allocation goes, several people believe the company can’t get away with doing nothing for too long anymore… (Read more)