Michael Dell Accuses Carl Icahn of Grandstanding and 2 More Heavily Traded Stocks to Follow
Dell Inc. (NASDAQ:DELL): Closing price $13.75
It just goes on and on. Dell founder Michael Dell accused the dreaded investor Carl Icahn in court papers of “grandstanding” in his endeavors to rush forward litigation meant to block an inside leveraged buyout of the company. On August 1, Icahn sued Dell and his firm in Delaware Chancery Court, arguing that Michael Dell’s offering price of $13.65 a share — which is currently up to $13.96 with dividends tacked on — is too low.
Dell’s lawyers said in a filing made public Thursday that now “plaintiffs appear to seek a hurry-up hearing at the end of which they will ask the court to order Dell to hold the vote on the proposed merger simultaneously with the annual meeting — which would require a delay in the vote.”
Citigroup Inc. (NYSE:C): Closing price $51.80
Citigroup says that the pound’s rally will be short-lived since the Bank of England announced that it would issue forward guidance on interest rates. On Wednesday, Sterling rose to a seven-week high after the central bank elevated its growth forecasts in its Inflation Report and promised to keep borrowing costs low until the unemployment rate sinks to 7 percent.
Valentin Marinov, chief of European, Group-of-10 currency strategy in London observed in an August 7 phone interview that the pound will lose its appeal against the advent of a “more compelling” United States growth story and as the Federal Reserve starts to shrink its stimulus program in September. Alluding to the pound-dollar exchange rate, Marinov said that, “We doubt that the initial move up in the pound-dollar exchange rate would grow into a trend reversal higher and continue to sell cable on rallies for now.”
BlackBerry (NASDAQ:BBRY): Closing price $9.23
On Thursday, BlackBerry reported that the United States Defense Information System Agency has awarded BlackBerry Z10 and BlackBerry Q10 smartphones with BlackBerry Enterprise Service 10, the Authority to Operate on Department of Defense networks.
BlackBerry represents the first Mobile Device Management provider to get an ATO, with which, DISA is now working upon the infrastructure to back BlackBerry 10 smartphones. DISA is designing the capacity to support 10,000 BlackBerry 10 smartphones by the autumn and 30,000 by the end of the year on DoD networks.