John Paczkowski

Recent Posts by John Paczkowski

Icahn Cashes Out — And Cashes In — On Netflix Stake

scrooge-mcduckHow’s this for profit taking? Carl Icahn on Tuesday unloaded nearly half of his almost 10 percent stake in Netflix, cashing in on a stratospheric 457 percent rise in the company’s stock price since he first made the investment.

A new SEC filing detailing the transaction shows the activist investor sold 2.99 million shares at an average price of about $314.85, far above the $58-per-share average price he paid for them last October.

A phenomenal return, and one that Icahn gleefully celebrated on Twitter this afternoon. “Sold a block of NFLX today,” Icahn tweeted. “Wish to thank Reed Hastings, Ted Sarandos, NFLX team and last, but not least, Kevin Spacey,” he said, in a nod to the star of one of Netflix’s marquee homegrown series “House of Cards.”

At $314.74, Netflix shares are down in after-hours trading after earlier rising some 9 percent following a strong earnings report on Monday.

Twitter’s Tanking

December 30, 2013 at 6:49 am PT

2013 Was a Good Year for Chromebooks

December 29, 2013 at 2:12 pm PT

BlackBerry Pulls Latest Twitter for BB10 Update

December 29, 2013 at 5:58 am PT

Apple CEO Tim Cook Made $4.25 Million This Year

December 28, 2013 at 12:05 pm PT

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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik