Microsoft Makes Push For Mobile Market With Nokia Buy


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. . . It speaks for what the company has been able to do.” After Tuesday’s announced sale, Icahn will own 3,589,963 shares, or 7.5 percent, of Hain, according to the company. As of June 30, the second-largest institutional shareholder in Hain, after Icahn, was money management firm BlackRock, with 4.1 million shares, according to Bloomberg data. Icahn didn’t say why he was halving his stake. SungHwan Cho, chief financial officer of Manhattan-based Icahn Enterprises, declined to comment. Hain makes products such as Celestial Seasonings tea, Earth’s Best organic baby food and Terra chips. Its stock is up more than 50 percent since early January, as the company posted two straight quarters of record sales.
This article has been curated from Icahn sells half his stake in Hain Celestial

Some analysts questioned whether buying up the mobile business of Nokia, the fading star of the cellphone world, would aid Microsoft. “Until there are signs that [Microsoft] can innovate and successfully execute in the post-PC era, we expect the stock to languish at current levels,” said Janney analysts Yun Kim and Alice Hur. Microsoft’s shares fell $1.52, or 4.55 percent, to $31.88 in trading Tuesday. Microsoft, based in Redmond, Wash., has been racing to catch up with customers who are increasingly pursuing their digital lives on smartphones and tablet computers rather than traditional PCs. The shift is weakening Microsoft, which has dominated the PC software market for the past 30 years, and empowering Apple Inc., the maker of the trendsetting iPhone and iPad, and Google Inc., which gives away the world’s most popular mobile operating system, Android.
This article has been curated from Microsoft makes push for mobile market with Nokia buy

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