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

Latest Video

View all videos »

Search »

Another gadget you don’t really need. Will not work once you get it home. New model out in 4 weeks. Battery life is too short to be of any use.

— From the fact sheet for a fake product entitled Useless Plasticbox 1.2 (an actual empty plastic box) placed in L.A.-area Best Buy stores by an artist called Plastic Jesus