- "I believe a great amount of profit in the next few years will be made by those who hold positions in energy companies," says Carl Icahn after Icahn Enterprises (NYSE:IEP) reported its first annual loss since 2008, largely on the back of declining oil prices. "However," he adds, "I also believe that oil prices will continue to decline in the near term."
- Apple - the largest position in IEP's investment segment - helped soften the blow from oil. "I look forward to wearing the watch in the very near future and possibly driving the car in the more distant future."
- Q4's loss of $1.022B stands against a profit of $405M a year ago. For the full-year, the company lost $373M vs. a profit of $1,025B in 2013.
- Previously: Icahn Enterprises reports Q4 results (Feb. 27)