IEP
Icahn Enterprises L.P.NYSE
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  • Wed, Nov. 9, 8:23 AM
    • Icahn Enterprises (NYSE:IEP) had declared  $1.50/share quarterly dividend, in line with previous.
    • Payable Dec. 19; for shareholders of record Nov. 14; ex-div Nov. 9.
    | Wed, Nov. 9, 8:23 AM | 3 Comments
  • Thu, Nov. 3, 8:06 AM
    • Icahn Enterprises (NYSE:IEP): Q3 EPS of -$0.12 beats by $0.52.
    • Revenue of $3.9B (+4.8% Y/Y) misses by $80M.
    • Press Release
    | Thu, Nov. 3, 8:06 AM
  • Tue, Sep. 6, 12:08 PM
    • A subsidiary of Icahn Enterprises (IEP +1.8%) fires off an offer to acquire the remaining shares of Federal-Mogul (FDML) it doesn't own for $9.25 per share in an all-cash transaction.
    • Icahn Enterprises made an offer earlier this year at $7.00 per share.
    • Federal-Mogul’s board has recommended that Federal-Mogul stockholders accept the offer and tender their shares.
    • Shares of FDML are currently halted.
    • Source: Press Release
    | Tue, Sep. 6, 12:08 PM | 5 Comments
  • Thu, Aug. 18, 3:22 PM
    • Persistent pressure on the company's operating segment combined with poor results at Icahn's hedge fund mean nearly 50% risk in the stock, says analyst Brennan Hawken, downgrading Icahn Enterprises (IEP -6.4%) to Sell from Neutral.
    • The company owns a $1.8B stake in an investment fund run by Icahn with stakes in Cheniere Energy, Freeport McMoRan, AIG, and PayPal, but the fund is also net short 149%. The investment portfolio fell 6% in Q2 thanks to the short interest, marking the fourth straight quarter of a loss greater than 5%.
    • With markets nicely ahead since the end of June, Q3 could prove to be another three months.
    | Thu, Aug. 18, 3:22 PM | 33 Comments
  • Thu, Aug. 4, 8:04 AM
    • Icahn Enterprises (NASDAQ:IEP): Q2 EPS of -$0.50 may not be comparable to consensus of $1.22.
    • Revenue of $4.35B (-12.7% Y/Y) misses by $10M.
    • Press Release
    | Thu, Aug. 4, 8:04 AM
  • Tue, May 17, 12:47 PM
    • Citing an elevated loan-to-value ratio expected to remain between 45-60% over the next 12 months, S&P lowers the credit rating of Icahn Enterprises (IEP -0.6%)  to BB+ from BBB-. The outlook is stable.
    • While part of the LTV increase comes from declines in the company's portfolio, there's also been a substantial decrease in the amount of cash on IEP's books, says analyst Clayton Montgomery.
    • Montgomery doesn't expect Icahn and team to take action to cut leverage at the current time, and says management's leverage tolerance continues to be unclear.
    | Tue, May 17, 12:47 PM | 4 Comments
  • Thu, May 5, 2:57 PM
    • Carl Icahn suffered along with other hedge fund managers in Q1, and Icahn Enterprises (IEP -4.7%) posted a nasty quarter, led by a negative 12.8% return in the investment segment. Still, writes Andrew Bary, the stock sells for a hefty premium to what he calculates to be an NAV per unit of $38.
    • As for the near-term, Icahn is bearish on markets, and the portfolio at the end of Q1 was 149% up short vs. marginally short at the start of the year, and net long one year ago. “We’re more concerned that the market is going down 20% than going up 20%,” says an IEP executive.
    • The bulls say the premium is deserved thanks to Icahn's investment prowess and that some holdings are nonpublic and could be worth more than their carrying values. Bary reminds that investors can get exposure to hotshots like David Einhorn, Dan Loeb, and Bill Ackman with investment vehicles trading at or less than NAV.
    • Previously: Icahn Enterprises EPS of -$6.21 (May 5)
    | Thu, May 5, 2:57 PM | 3 Comments
  • Thu, May 5, 8:05 AM
    • Icahn Enterprises (NASDAQ:IEP): Q1 EPS of -$6.21 may not be comparable to consensus of $1.21.
    • Revenue of $3.13B (-30.6% Y/Y) misses by $1.13B.
    | Thu, May 5, 8:05 AM | 12 Comments
  • Mon, May 2, 8:39 AM
    • Icahn Enterprises (NASDAQ:IEP) declares $1.50/share quarterly dividend, in line with previous.
    • Forward yield 9.86%
    • Payable June 16; for shareholders of record May 12; ex-div May 10.
    | Mon, May 2, 8:39 AM | 5 Comments
  • Wed, Mar. 2, 12:14 PM
    • Carl Icahn warns he won't invest $100M in the Trump Taj Majal property in Atlantic City if New Jersey gives a green light to casinos in the northern part of the state. Lawmakers in New Jersey want to put the issue to the voters in a referendum as part of the election in November.
    • The Taj Mahal emerged out of bankruptcy last Friday to fall into the hands of Icahn. Tropicana Entertainment (OTCQB:TPCA), which is majority-owned by Icahn Enterprises (NASDAQ:IEP), will manage the casino complex.
    • Previous Taj owner Donald Trump is only tied to the property through his name, although he is friends with Icahn and tips that the investment legend will be "in charge of China" if he wins the presidency. Trump opponents have dragged out the Taj bankruptcy as a campaign talking point.
    • New Jersey Governor Chris Christie is somewhere in the middle of the issue after publicly supporting the casino referendum, but also showing up as Trump's warm-up act at political events (see #FreeChrisChristie on Twitter).
    • The direction of the northern New Jersey casino projects also has bearing on MGM Resorts (NYSE:MGM), Caesars Entertainment (NASDAQ:CZR), and Boyd Gaming (NYSE:BYD).
    • Tropicana/Trump Taj Mahal PR
    | Wed, Mar. 2, 12:14 PM | 11 Comments
  • Mon, Feb. 29, 8:07 AM
    • Icahn Enterprises (NASDAQ:IEP): Q4 EPS of -$8.56 may not be comparable to consensus of $1.16.
    • Revenue of $2.56B (-24.0% Y/Y) misses by $1.1B.
    | Mon, Feb. 29, 8:07 AM | 5 Comments
  • Mon, Feb. 29, 7:10 AM
    • Already an owner of 82% of Federal-Mogul (NASDAQ:FDML), Icahn Enterprises (NASDAQ:IEP) offers $7 per share for the stock it doesn't have. That comes against a closing price of $4.98 on Friday.
    • The deal would need to be approved a special committee of independent directors of FDML and by a majority of non-Icahn-affiliated stockholders.
    | Mon, Feb. 29, 7:10 AM | 3 Comments
  • Wed, Feb. 24, 8:40 AM
    • Icahn Enterprises (NASDAQ:IEP) declares $1.50/share quarterly dividend, in line with previous.
    • Forward yield 11.86%
    • Payable April 12; for shareholders of record March 7; ex-div March 3.
    | Wed, Feb. 24, 8:40 AM | 2 Comments
  • Fri, Feb. 19, 3:38 PM
    • Citing sizable declines in the value of the company's investment portfolio, S&P puts the BBB- credit rating of Icahn Enterprises (IEP -11.7%) on CreditWatch with negative implications.
    • BBB- is the lowest investment-grade rating, so any cut makes the company a junk-rated borrower.
    • S&P estimates the company has lost at least $1.4B since Sept. 30, and now likely exceeds a 45% loan-to-value ratio. IEP's 5.875% bonds maturing in 2022 are trading at 86 cents on the dollar. Carl Icahn owns about 89% of the company.
    | Fri, Feb. 19, 3:38 PM | 37 Comments
  • Mon, Feb. 1, 3:27 PM
    • Tropicana Entertainment (OTCQB:TPCA) is sinking $25M into its Atlantic City casino this year for renovations.
    • Slated for upgrades are rooms in the Havana Tower and the casino floor at the South Tower.
    • The casino operator spent about $50M in renovations last year.
    • Icahn Enterprises (NASDAQ:IEP) owns a sizable stake in Tropicana.
    | Mon, Feb. 1, 3:27 PM | 1 Comment
  • Dec. 30, 2015, 9:34 AM
    | Dec. 30, 2015, 9:34 AM | 9 Comments