Tuesday 13 August 2013

INQUIRER.net: US stocks rise as Icahn discloses huge Apple stake

INQUIRER.net
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US stocks rise as Icahn discloses huge Apple stake
Aug 14th 2013, 00:53

NEW YORK CITY—US stocks closed in positive territory Tuesday as corporate raider Carl Icahn revealed a large stake in Apple, sending the technology titan 4.8 percent higher.   The broad-based S&P 500 climbed 4.69 (0.28 percent) to 1,694.16, while the tech-rich Nasdaq Composite Index increased 14.49 (0.39 percent) to 3,684.44.   The Dow Jones Industrial Average, whose 30 blue chip stocks do not include Apple, gained 31.33 (0.20 percent) at 15,451.01.   Shares in Apple skyrocketed to finish at $489.57 after activist Icahn took to Twitter to disclose his "large" stake in the company, which he rated "extremely undervalued."   Icahn said h...

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