To be honest I always thought that Icahn was never in for the long term. He just went and raised a ruckus about wanting those $100B cash reserves distributed to stock owners.
I saw a TV segment / interview about Icahn years ago and that was impression I got. His M.O. is to buy a stock, create some attention, and sell, based mostly on the attention he brings, more so than the improvements he makes.
It's hard to read too much into it. For all we know, Ichan wants to play things a little conservative for the rest of 2016 due to big losses in his oil investments.
http://www.bloomberg.com/news/articles/2016-04-28/billionair...