Carl Icahn Reveals ‘Large Stake’ in Apple and 2 More Heavily Traded Stocks to Follow

Apple Inc. (NASDAQ:AAPL): Current price $491.46

Activist investor Carl Icahn said Tuesday that he now has a “large stake” in Apple, a company he considers extremely undervalued. The billionaire, who is well known for pushing aggressively for corporate change, said on Twitter that he discussed a larger buyback program with Apple CEO Tim Cook, tweeting: “Had a nice conversation with Tim Cook today. Discussed my opinion that a larger buyback should be done now.” In any case, Apple shares are up over 4 percent in late afternoon trading.

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Microsoft Corp. (NASDAQ:MSFT): Current price $32.24

Noting Microsoft’s Windows operating system business, weakness in the PC market following a disappointing fiscal fourth-quarter report on July 19, and the company’s announcement on July 11 that it plans to reorganize with a focus on “devices and services,” Brad Reback at Stifel Nicolaus lowered his rating on shares from Buy to Hold on Tuesday, and pulled back his $36 price target after reducing his estimates for 2013 and 2014 to reflect his belief that Microsoft will have to slash prices for Windows and also raise operating expenses.

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Sirius XM Radio Inc. (NASDAQ:SIRI): Current price $

Sirius announced Tuesday that top Spanish-language radio personality Eddie “Piolin” Sotelo will debut a new entertainment channel on SiriusXM, anchored by his own daily morning-drive show, El Show de Piolin. Piolin will host the live four-hour call-in show, building on the format that made him the top Latino radio host in the United States, according to a company press release.

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