To: Paul Senior who wrote (61780 ) 5/20/2019 8:57:57 PM From: Paul Senior Read Replies (3) | Respond to Icahn/CNDT. CNDT is another Icahn one where I've held a tracking position and the stock's subsequently cratered after they reported a horrible quarter week or so ago. I don't see why this company with all its various operations can't make an overall profit with the 67,000 people they've got. Yes, they have debt, but also $500M cash to work with (per Yahoo). They can't restructure/shed unprofitable businesses and focus on core? Getting management to make the necessary structural changes seems like an Icahn specialty. We'll see.Activist investor Carl Icahn added to his stake in Conduent Inc. after the chief executive announced his retirement last week, according to a filing with the Securities and Exchange Commission. The business-services company, which was spun off into its own entity after Icahn engaged in a battle with previous owner Xerox Corp. , saw shares spin nearly 40% lower in a single session last week, after its CEO resigned while offering a poor quarterly earnings report. According to a filing with the SEC, Icahn immediately began adding to his position the day after that decline, May 10, and purchased nearly 4 million shares at an average price of $8.35 for a total stake of nearly 29 million shares, or 13.7% of the company. Icahn affiliate Michael Nevin left Conduent's board in April and issued a public letter condemning other directors as well as CEO Ashok Vemuri, who is resigning. Conduent shares gained 2.8% to $8.52 Monday.
