Carl Icahn was on CNBC this afternoon talking up his position gains from the El Paso Corporation (NYSE: EP). The CNBC team asked him point blank if Icahn was targeting or if he had taken a position in Research-in-Motion Limited (NASDAQ: RIMM).
Icahn responded that these rumors get out there and often have no merit. That was not a firm denial, but his firm denial came when he said that RIM is not on his radar and does not fit the mold of his targets.
Research in Motion shares were already lower on offering free apps and free support to those who were affected adversely by the severe Blackberry service outages of the prior week. Now things are worse if Icahn is not going to be bullying the RIM board of directors to get things turned around.
RIM shares are down 5.7% at $22.60 but trading volume actually looks a bit unimpressive today.
Could RIM ever get to become a Carl Icahn activist target? Probably, if the price ever becomes cheap enough. RIM still has a market capitalization of close to $12 billion even after today’s drop in the share price. If RIM does not become a target it could be because Yahoo! Inc. (NASDAQ: YHOO) proved to be such a painful experience.
JON C. OGG
The Average American Has No Idea How Much Money You Can Make Today (Sponsor)
The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.
But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.