Icahn Reveals $1.5 Billion Stake in Apple, More Boeing 787 Woes: Morning Buzzers
U.S. stock futures fell this morning, as the economy continues to show signs of strength and more economists believe the Federal Reserve will start paring back stimulus soon. Sixty-five percent of economists surveyed by Bloomberg said they believe the Fed will begin cutting stimulus after its meetings on September 17 and 18.
Futures at 8:30 a.m.: DJIA: -0.26% S&P 500: -0.24% NASDAQ: -0.12%
Here’s your cheat sheet to the stories buzzing this morning:
Apple (NASDAQ:AAPL) has grabbed the attention of activist investor Carl Icahn, who revealed yesterday via Twitter that he has a $1.5 billion stake in the company. Icahn said in an interview cited by the Wall Street Journal that he believes Apple’s stock is highly undervalued and the company should begin a share buyback as soon as possible. Icahn believes the stock is worth $625 a share. Apple closed at $489.57 yesterday, jumping 5 percent after Icahn’s investment was revealed.