Icahn’s Open Letter to Apple, Sirius XM Misses on Revenue, and 3 More Hot Stocks

Apple Inc. (NASDAQ:AAPL): Carl Icahn has published his open letter to Apple CEO Tim Cook on his website; in it, he encourages Apple to immediately begin an offer to buy back $150 billion in Apple shares at the current share price of $525 per share, “financed with debt or a mix of debt and cash on the balance sheet,” The New York Times reports. However, Icahn concluded by noting that he does not plan to personally benefit from a stock buyback should it to occur; “to invalidate any possible criticism that I would not stand by this thesis in terms of its long term benefit to shareholders,” he wrote.

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Sirius XM Radio Inc. (NASDAQ:SIRI): Sirius shares are trading lower as the company reported earnings per share of 1 cent and revenue of $962 million, missing by $7.49 million. However, the 513,000 net subscriber additions and the 373,000 self-pay net additions set post-merger records for the company; total subscribers now sit at around 25.6 million. Sirius also bought back $459 million in stock during the quarter and made slight upwards adjustments to its guidance for subscribers and revenue.

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Xerox Corp. (NYSE:XRX): Despite a slight earnings beat (EPS of 26 cents, beating by 1 cent), Xerox shares are trading down almost 9 percent, as revenue of $5.26 billion missed by $0.08 billion; however, it’s the fourth-quarter earnings warning that’s causing investors to ditch their positions. Xerox saw EPS of 28 cents to 30 cents for the fourth quarter against a 33 cent consensus.

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Walt Disney Co. (NYSE:DIS): Disney is shaking up its Indian operations a little bit by placing Roy Kapur in the managing director seat formerly occupied by Ronnie Screwvala; Kapur will officially begin the new role on June 30. Disney is working hard to consolidate its Indian assets, as media spending is improving quickly in the country.

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Southwest Airlines (NYSE:LUV): Southwest’s stock is rising more than 2 percent after the airline revealed EPS of 34 cents, falling in line, as revenue of $4.55 billion beat by $0.02 billion. Operating unit revenues rose 4.5 percent over the year-ago third quarter, and available seat miles and average seats per trip both saw improvements; operating expenses fell 2.4 percent, now clocking $4.2 billion, helped considerably by average fuel costs falling by a dime.

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Don’t Miss: Sirius Earnings: Hefty Expenses Hid Growing Subscribers.

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