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U.S. Morning Call: Carl Icahn buys about 6% of Dell

Thursday, March 07, 2013 - 04:22

Mar 7 - Activist investor Carl Icahn has built a stake of around 100 million shares in Dell and wants a leveraged recapitalization, complicating founder Michael Dell's effort to take the company private.

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Conference Thursday and we're talking down -- and -- major bummer for Michael Dell certainly via. Ever to take the PC maker private just got a little harder Carl Icahn joining the party outside investors critical of the deal. The activist investor has been building is staking -- an -- around 100 million shares or 6% of the company. And demanding strict cash and send them -- out Michael Dell's been pushing for. Dell's largest shareholder. Southeastern asset management which owns an eight point 5% stake. Is also against the buyout which teams up with icon -- shares which have stayed around eight dollar range for much of the last six months. Are at fourteen bucks this year in response to the buyout offer right out trading slightly higher in the premarket. A big day for Boeing the National Transportation Safety Board releases its mid term report. That may provide details on what caused the Boeing 787 in Boston to catch fire and burned while on the tarmac. The next step will be for the FAA to review the findings answer by the plane safe. That may be tough though -- reports that FAA it right good -- he needs more information to be convinced that balance proposed fix it. Are good enough for the jet to resume commercial flights. Well later today we'll see if the big banks pass their meltdown test the results from the Fed's stress tests of bank capital out after the markets closed. He and -- check that should reveal how much money eighteen large banks can hold onto. In case a hypothetical crash. US bank investors could be in for a bumpy ride over the next two weeks starting today. Next week the Fed will disclose how the banks with there if they spent money on buying back shares or on paying higher dividends. Which -- stock shares since the financial crisis a passing grade could -- increased pay out the shareholders. Not to markets US stock futures are pointing to yet another bullish start. -- the Dow closed at another record high on the economic docket we've got jobless claims data expected to rise slightly for the prior week to 355000. Tomorrow's nonfarm payrolls of course it worked closely watched report. Also on the agenda same store sales figures for February expected to -- just over 3% according to analysts polled by blazers. That's a drastic drop from the same period last year when sales growth over 7%. Costco already reporting this morning seeing -- jump in sales up 6% beating estimates. This month numbers reflect how rapidly in tax refunds and a spike in taxes is having on US consumers. And where stocks to watch Qatar sovereign wealth fund -- and it's sitting inside the iconic blue box yes we're talking. About Tiffany's like that iconic blue box. Qatar investment authority now and now Tiffany's largest shareholder. Shareholder with an eleven point 2% stake followed by the men Vanguard Group. Shares of the -- -- have risen more than 22% this year. That time and time -- -- no more Time Warner announced a spinoff of its kind unit which publicist fortune and people magazines as well. This ends weeks of merger negotiations with Meredith court the split into an independent company will likely take place by the end of the year. From old -- it's -- FaceBook unveiling it radically different look today for its news feet. Techcrunch reports the feet and now we sorted by -- content types. Like music video and pictures. And prominently feature adds a face lift comes after the social network announced last week that -- digital ad company lists from Microsoft. And while last talked to lots of social media world pandora. It's important result after the bell all eyes will be on what ad revenue in the subscriber growth look like last quarter. And with talk of apple looking to jump into music's straining investors also want to -- and -- plans. To its customer base. Are right -- Thursday morning call you can follow us on Twitter at Reuters Insider and pick -- where Britney out at Reuters dot com slash. I'm Lisa Bernhard --

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U.S. Morning Call: Carl Icahn buys about 6% of Dell

Thursday, March 07, 2013 - 04:22