Market Overview

After Netflix Win, Icahn After Another Company

Another Carl Icahn pick is trading higher Monday.

After nearly tripling his money on Netflix (NASDAQ: NFLX) last week, Carl Icahn is at it again, this time moving shares of Transocean (NYSE: RIG).

Shares of the world's largest offshore drilling company rallied over 2.5 percent early Monday. Icahn, who now owns about 5.6 percent of the company, said on Friday that he wanted the board to payout a special $4 per share dividend.

Now trading near $58 per share, that would represent about a 7 percent yield. Transocean currently has about $19 per share in cash.

In addition to Icahn's involvement, analysts at Guggenheim upgraded the stock to a Buy rating from Neutral.

In addition to his amazing Netflix trade, Icahn received a lot of focus on Friday when he appeared on CNBC to directly debate rival hedge fund manager Bill Ackman.

Posted-In: News Dividends Upgrades Hedge Funds Intraday Update Analyst Ratings Movers Trading Ideas Best of Benzinga

 

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