Apple Inc., which faces as much as $840 million in state and consumer antitrust claims stemming from an electronic books lawsuit, lost its bid to halt oversight by a court-appointed compliance monitor.
Activist investor Carl Icahn dropped his campaign urging Apple Inc. to buy back $50 billion of stock this year, after the company stepped up repurchases and a proxy- advisory firm criticized his efforts as micromanagement.
Arizona got snubbed by Apple Inc. in 2012 when the iPhone maker picked Texas to build a new operations hub. Scott Smith, the mayor of the Phoenix suburb of Mesa, was determined to keep history from repeating itself.
Activist investor Carl Icahn’s push for Apple Inc. to buy back $50 billion of stock this year was opposed by an influential proxy-voting service, which said such a motion would “micromanage” how the company uses capital.
Apple surprises the market. Chief Executive Officer Tim Cook tells the Wall Street Journal that the company has bought back $14 billion worth of shares in the past two weeks. This represents 3 percent of shares outstanding. That's 78 percent on an annualized basis. At that rate, the world's largest company by market capitalization would effectively go private next year.
U.S. stocks rose, with the Standard & Poor’s 500 Index capping its best two-day rally since October, amid optimism economic growth is robust enough to weather stimulus cuts even as data showed weaker-than-forecast hiring.
Apple Inc., facing as much as $840 million in state and consumer antitrust claims tied to price- fixing in the electronic-book market, asked an appeals court to halt oversight by a court-appointed compliance monitor.
U.S. stocks fell for a third week, the longest slump since 2012 for the Standard & Poor’s 500 Index, after the Federal Reserve cut stimulus even as a rout in emerging markets spurred concern about the global economy.