Carl Icahn Steps Up His Lawsuit Against Dell and 2 More Heavily Traded Stocks to Follow
Dell Inc. (NASDAQ:DELL): Current price $13.68
Carl Icahn says that he and his affiliates have filed a brief in support of their motion to expedite proceedings, in regards to their lawsuit filed against Dell and the members of its board in the Court of Chancery of the State of Delaware. The brief outlines how Icahn believes that the Dell board breached its fiduciary duties by taking the actions it disclosed late last week. Beyond that, the document also explains why Dell should hold its Special Meeting and its Annual Meeting on the same date and time.
Qualcomm Inc. (NASDAQ:QCOM): Current price $66.25
Shares of Qualcomm are down modestly, after analyst Auguste Richard at research firm Piper Jaffray downgraded the stock earlier on Monday. Richard wrote that lowered demand for high-end smartphone components lead to Qualcomm’s revenue falling. A number of other firms have recently said that they are experiencing weaker demand for high-end smartphone components, and factories have indicated that this trend seems to be stepping up, according to Richard, who also wrote that Qualcomm will need to spend a significant amount of money to make its low-end smartphone component business more competitive. He reduced his rating on the firm from Overweight to Neutral.
Apple Inc. (NASDAQ:AAPL): Current price $469.45
On Monday, Steve Milunovich at UBS reiterated a Buy on Apple shares, along with a $500-price target, even while cutting predictions for 2014. He noted that the iPad, though a tremendous success, will likely be a less significant product for the firm than was the iPhone, based on weaker-than-anticipated growth for the market overall. Milunovich lowered his estimates for the fiscal year ending in September of 2014 to $179.9 billion, priced at $42.29 per share.