The Zacks Analyst Blog Highlights: Dell, Blackstone, Hewlett-Packard, Apple
CHICAGO, April 22, 2013
CHICAGO, April 22, 2013 /PRNewswire/ -- Zacks.com announces the list of stocks
featured in the Analyst Blog. Every day the Zacks Equity Research analysts
discuss the latest news and events impacting stocks and the financial markets.
Stocks recently featured in the blog include Dell Inc. (Nasdaq:DELL),
Blackstone (NYSE:BX), Hewlett-Packard (NYSE:HPQ), Apple Inc. (Nasdaq:AAPL) and
Symantec Corp. (Nasdaq:SYMC).
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from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Friday's Analyst Blog:
Dell Finalizes Icahn's Stake
The board of Dell Inc. (Nasdaq:DELL) has fixed the ownership stake of Carl
Icahn and his associate entities to not more than 10.0% of the company's
This deal also covers shareholders other than Ichan, who would jointly hold
more than 15.0% of Dell's outstanding shares.
Some of Dell's shareholders have expressed their dissatisfaction with Michael
Dell's offer, after which Ichan and investment firmBlackstone (NYSE:BX) have
raised the bid.
Icahn already has a leading position among minority shareholders and could
therefore make it difficult for Michael Dell to acquire the controlling stake.
Moreover, this has been a major hurdle for Dell's board, who were more
inclined toward Michael Dell and an investment group led by Silver Lake
Partners to take the controlling stake.
Icahn has announced that he has rejected Dell's offer of $25.0 million as
expense reimbursements if he agreed not to attempt a hostile takeover.
The latest decision regarding the stake came quickly, as Icahn Enterprises
received an approval to terminate the normal waiting period -- i.e. within a
period of 6 days -- which is generally needed before somebody can acquire a
25% ownership stake.
Considering the latest developments, Dell's future remains uncertain. In the
past year, the company has had its share of challenges, as cutthroat
competition from Hewlett-Packard (NYSE:HPQ) and Apple Inc. (Nasdaq:AAPL), as
well as a restricted spending environment hurt revenues.
Moreover, privatization might help Dell move away from public scrutiny, but
the decision regarding ownership is taking some time to settle.
Dell Inc. has a Zacks Rank #5 (Strong Sell). Therefore, we would instead
recommend Symantec Corp. (Nasdaq:SYMC), which has a Zacks Rank #2 (Buy).
Currently, shares of Ford retain a Zacks Rank #3 (Hold).
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