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☆ Stocks making the biggest moves midday: Amazon, Apple, Block, Tupperware and more
▼ + stars: | 2023-08-04 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Apple reported earnings per share for the fiscal third quarter of $1.26, 7 cents more than expected by analysts polled by Refinitiv. The company posted adjusted earnings of $37.62 per share on revenue of $5.46 billion in the second quarter. Fortinet posted 38 cents in adjusted earnings per share, while analysts polled by Refinitiv expected 34 cents per share. Dropbox posted 51 cents in adjusted earnings per share, while analysts surveyed by Refinitiv anticipated 46 cents. The company reported adjusted earnings per share of 18 cents Thursday, topping the 10 cents expected from analysts polled by StreetAccount.

Persons: Tupperware, Carl Icahn's, Hindenburg, Jack Dorsey, Nikola —, Nikola, Fortinet, Refinitiv, Opendoor, DraftKings, Dropbox, Sprout, Raymond James, —, Samantha Subin, Hakyung Kim, Pia Singh, Michelle Fox, Yun Li Organizations: Apple, Refinitiv, Revenue, Holdings, Icahn, Fortinet, Technologies, Refinitiv . Revenue, Tagger Media, Exchange, Citi, StreetAccount, Petrobras —, JPMorgan Locations: U.S, Canada

☆ Wall St ends up; investors digest Fed official comments
▼ + stars: | 2023-07-10 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The S&P 500 added to slight gains before the close, with caution prevailing for much of the session ahead of Wednesday's consumer prices report and the start of second-quarter earnings later this week. That could shed light on the interest rate outlook, with many traders expecting the Fed to raise interest rates by 25 basis points this month. S&P 500 company earnings are due to unofficially kick off this week with reports from some big U.S. banks. A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 7, 2023. The S&P 500 posted 28 new 52-week highs and four new lows; the Nasdaq Composite recorded 59 new highs and 47 new lows.

Persons: Carl Icahn, Quincy Krosby, Brendan McDermid, decliners, Johann M Cherian, Saumyadeb Chakrabarty, Shinjini Ganguli, Richard Chang Organizations: Dow, Nasdaq, Federal Reserve, Fed, Financial, New York Stock Exchange, REUTERS, Intel, Dow Jones, Icahn Enterprises, Citigroup, NYSE, Thomson Locations: U.S, Charlotte , North Carolina, Refinitiv, New York City, Bengaluru

☆ Wall St ends higher; consumer prices, earnings eyed this week
▼ + stars: | 2023-07-10 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

That could shed light on the interest rate outlook, with many traders expecting the Federal Reserve to raise interest rates by 25 basis points this month. S&P 500 company earnings are due to unofficially kick off this week with reports from some big U.S. banks. Analysts expect earnings to have fallen 6.4% in the second quarter from the year-ago period, IBES data from Refinitiv showed. Advancing issues outnumbered decliners on the NYSE by a 2.23-to-1 ratio; on Nasdaq, a 2.06-to-1 ratio favored advancers. The S&P 500 posted 28 new 52-week highs and four new lows; the Nasdaq Composite recorded 59 new highs and 47 new lows.

Persons: Carl Icahn, Quincy Krosby, Janet Yellen, decliners, Johann M Cherian, Saumyadeb Chakrabarty, Shinjini Ganguli, Richard Chang Organizations: Dow, Nasdaq, Reserve, Financial, Intel, Qualcomm, U.S, Treasury, Dow Jones, Icahn Enterprises, Citigroup, NYSE, Thomson Locations: U.S, Charlotte , North Carolina, Refinitiv, Bengaluru

☆ Wall St ends up; consumer prices, earnings eyed this week
▼ + stars: | 2023-07-10 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +2 min

That could shed light on the interest rate outlook, with many traders expecting the Federal Reserve to raise interest rates by 25 basis points this month. "The market is obviously poised for the opening of earnings season," but investors are also hyper-focused on consumer prices and the outlook for interest rates, said Quincy Krosby, chief global strategist at LPL Financial in Charlotte, North Carolina. S&P 500 company earnings are due to unofficially kick off this week with reports from some big U.S. banks. Analysts expect earnings to have fallen 6.4% in the second quarter from the year-ago period, IBES data from Refinitiv showed. According to preliminary data, the S&P 500 (.SPX) gained 10.97 points, or 0.25%, to end at 4,409.92 points, while the Nasdaq Composite (.IXIC) gained 25.36 points, or 0.19%, to 13,686.08.

Persons: Carl Icahn, Quincy Krosby, Janet Yellen, Johann M Cherian, Saumyadeb Chakrabarty, Shinjini Ganguli, Richard Chang Organizations: Dow, Nasdaq, Reserve, Financial, Intel, Qualcomm, U.S, Treasury, Dow Jones, Icahn Enterprises, Citigroup, Thomson Locations: U.S, Charlotte , North Carolina, Refinitiv, Bengaluru

All eyes will be on U.S. inflation data, expected on Wednesday, that will feed into the Fed's interest rate decision later in the month. The second-quarter earnings season kicks off this week and investors will assess the impact of tight monetary conditions and fears of an impending economic slowdown on businesses. Overall, earnings for the S&P 500 constituents are expected to fall 5.7% in the quarter, Refintiv data showed. Most megacap growth and technology stocks slid in mid-day trading, with the FANG index (.NYFANG) falling 1.3%. Big banks such as JPMorgan Chase (JPM.N) and Citigroup (C.N) edged up, ahead of reporting earnings on Friday.

Persons: Carl Icahn, Chris Larkin, Morgan Stanley, Michael Barr, Loretta Mester, Mary Daly, Jefferies, JPMorgan Chase, Janet Yellen, Johann M Cherian, Saumyadeb Chakrabarty Organizations: Citigroup, Dow, Nasdaq, Federal Reserve, PPI, Traders, Dow Jones, JPMorgan, Icahn Enterprises, Intel, Qualcomm, U.S, Treasury, NYSE, Thomson Locations: U.S, Bengaluru

☆ Lightning Round: Icahn Enterprises probably has another 10% higher to go, says Jim Cramer
▼ + stars: | 2023-07-10 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Icahn Enterprises probably has another 10% higher to go, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Icahn Enterprises, Rambus, Palantir, Commercial Metals and Coherus.

Persons: Jim Cramer Organizations: Icahn Enterprises, Rambus, Metals

☆ Stocks making the biggest moves midday: Carvana, Icahn Enterprises, Novavax, Fisker and more
▼ + stars: | 2023-07-10 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Carvana — Shares soared 10% in midday trading. The company said on Monday it expected exponential growth within its used electric vehicle segment as consumer demand for EVs skyrocket. Lucid — The luxury electric vehicle company added 3.4%. Fisker — Fisker rose 2% after the electric vehicle maker said it's issuing a $340 million convertible note offering. On Friday, the company disclosed in a securities filing that it would receive $350 million from Canada for unused Covid-19 vaccines.

Persons: EVs skyrocket, Morgan Stanley, Jefferies, DraftKings, Carl Icahn's, Fisker, Jesse Pound, Sarah Min, Yun Li, Samantha Subin Organizations: EVs, Shockwave, JPMorgan, Cava, Icahn Locations: Cava, Canada

☆ Stocks making the biggest premarket moves: Advance Auto Parts, Icahn Enterprises, Meta, Fisker and more
▼ + stars: | 2023-07-10 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

An exterior view of the Advance Auto Parts store at the Sunbury Plaza. Check out the companies making the biggest moves before the bell:Advance Auto Parts — Advance Auto Parts declined 2.4% in the premarket after Atlantic Equities on Monday downgraded the stock to underweight, and cut its price target to $50. Meta Platforms — Shares of the social media company rose about 1% in premarket trading. Fisker — The electric vehicle maker's stock rose less than 1% after the company announced a $340 million convertible note offering, with the potential to increase it to $680 million. Charles Schwab — Shares of the brokerage firm rose 1.9% in premarket trading after JMP upgraded Schwab to market outperform from market perform.

Persons: Sam Hudson, Carl Icahn, Mark Zuckerberg, Fisker, Charles Schwab —, JMP, Schwab, Morgan Stanley, Yun Li, Sarah Min, Jesse Pound Organizations: Advance, Journal, Shockwave Locations: Sunbury

☆ Icahn unties personal loans from his investment firm's share price, shares jumps
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

July 10 (Reuters) - Billionaire activist investor Carl Icahn has amended the terms of his personal loans to separate them from the price of Icahn Enterprises' (IEP.O) depositary units, the investment firm disclosed in a filing on Monday. The move comes months after short-seller Hindenburg's criticism triggered a massive fall in the shares of his investment company. Icahn and its affiliates have entered into a three-year loan agreement with banks, including Bank of America, N.A. In the amended loan agreement, Icahn will provide additional collateral of $2 billion from his personal funds and 320 million IEP shares. It also said IEP units were inflated by more than 75%.

Persons: Carl Icahn, Icahn, Hindenburg, Jaiveer Shekhawat, Niket, Gursimran Kaur, Dhanya Ann Thoppil, Pooja Desai Organizations: Billionaire, Icahn Enterprises, Bank of America, Bank of Montreal, Deutsche Bank AG, Thomson Locations: Bengaluru

☆ Applied Digital shares tumble after Wolfpack Research takes short position
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

July 6 (Reuters) - Shares of Applied Digital (APLD.O) slumped on Thursday after Wolfpack Research disclosed a short position in the digital infrastructure company and accused it of "an embarrassing and predictable stock promotion." Insiders at B Riley hold a 48.4% stake in Applied Digital and will exit their position as it becomes clear that the company's claims "make no sense," Wolfpack alleged. The short-seller said Stability AI, Applied Digital's biggest prospective AI customer, was also "dubious." Applied Digital, Stability AI and B Riley did not immediately respond to Reuters' requests seeking comment. Dallas, Texas-based Applied Digital is the latest target in a series of short-seller attacks that have shaken corporate America this year.

Persons: Riley, Carl Icahn's, Pritam Biswas, Maju Samuel Organizations: Applied Digital, Wolfpack Research, Wolfpack, Reuters, Riley, Applied, Hindenburg Research, Icahn Enterprises, Thomson Locations: Dallas , Texas, America, Bengaluru

☆ Lightning Round: Icahn Enterprises is too dangerous for me, says Jim Cramer
▼ + stars: | 2023-06-20 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Icahn Enterprises is too dangerous for me, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Luminar, Icahn Enterprises and Verizon.

Persons: Jim Cramer Organizations: Icahn, Icahn Enterprises, Verizon

☆ Tingo hires law firm to conduct independent review after Hindenburg's claims
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +1 min

June 8 (Reuters) - Tingo Group said on Thursday it had hired law firm White & Case LLP to conduct an independent review after short-seller Hindenburg Research earlier this week alleged that the fintech firm had "fabricated" its financials. The company, which has refuted the allegations of misrepresentation and tax delinquency outlined in the report, said it will make no further comment until the review was complete. "Prior to today's appointment of White & Case LLP, the Company had commenced its own review to confirm, among other things, the number of farmers on Tingo Mobile and the Nwassa platform, the relationships with its contracted cooperatives, the relationship with the All Farmers Association of Nigeria, and the Company's cash balances," Tingo said. The company is Hindenburg's fourth target this year, after Indian conglomerate Adani Group, Jack Dorsey-led Block Inc (SQ.N) and Carl Icahn's flagship Icahn Enterprises (IEP.O). Reporting by Mehnaz Yasmin in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Dozy Mmobuosi's, Tingo, Jack Dorsey, Carl Icahn's, Mehnaz Yasmin, Shinjini Organizations: Tingo, White, Hindenburg, Case, Company, Tingo Mobile, All Farmers Association of Nigeria, Adani Group, Inc, Icahn Enterprises, Thomson Locations: The New Jersey, Africa, Southeast Asia, Nigeria, Bengaluru

☆ Fintech Tingo's shares slump as short-seller Hindenburg takes aim
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +1 min

June 6 (Reuters) - Tingo Group (TIO.O) shares halved in value on Tuesday after short-seller Hindenburg Research criticized its founder and alleged that the fintech firm had "fabricated" its financials. Hindenburg also said Tingo was an "exceptionally obvious scam" and called out founder Dozy Mmobuosi's claims of having developed "the first mobile payment app in Nigeria". The New Jersey-based holding company, whose shares shed more than 59% to $1.04, operates in Africa, Southeast Asia and the Middle East. Shares of IEP have erased a fifth of their value after Hindenburg accused the company of overvaluing its holdings and relying on a "Ponzi-like" structure to pay dividends. Conglomerate Adani's market value took a $100 billion hit after the short-seller accused it of improper use of offshore tax havens.

Persons: Hindenburg, Tingo, Dozy Mmobuosi's, Dozy Mmobuosi, Jack Dorsey, Carl Icahn's, Mehnaz Yasmin, Anil D'Silva Organizations: Tingo, Hindenburg Research, Reuters, Adani Group, Inc, Icahn Enterprises, Thomson Locations: Nigeria, New Jersey, Africa, Southeast Asia, Bengaluru

☆ Carl Icahn lost $9 billion on an ill-timed short trade. Here's what he says are 3 big lessons from the soured bet.
▼ + stars: | 2023-05-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Carl Icahn admitted a huge bet against the economy was wrong and cost $9 billion over six years. In an interview with the FT, Icahn reflected on his ill-timed short trade. Between 2020 and 2021, Icahn Enterprises reported $4.3 billion in short losses. Amid the losses, Icahn added $4 billion of his own funds into the company. Meanwhile, Icahn is fighting claims from activist investor Hindenburg Research, which announced it's shorting Icahn Enterprises and said the firm is run like a Ponzi scheme.

☆ Keith Meister’s Corvex Management bets on Amazon, slashes other big tech holdings
▼ + stars: | 2023-05-16 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Keith Meister's Corvex Management scooped up shares of Amazon during the first quarter, while slashing its stakes in technology giants Alphabet and Microsoft . Meister also bought shares of Endeavor Group , a position worth $44.9 million at the end of the first quarter. Other new bets from Corvex included a $22.7 million position in Uber Technologies and a stake in Algonquin Power . Prior to launching Corvex, Meister worked closely with legendary activist investor Carl Icahn. At the end of the first quarter, Corvex managed about $2.9 billion in regulatory assets, according to securities filings.

☆ Stocks making the biggest moves midday: First Solar, News Corp, Charles Schwab, Twilio and more
▼ + stars: | 2023-05-12 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves midday:First Solar — Shares soared 26.48% after the solar company announced it is acquiring Evolar AB for up to $80 million. First Solar said the acquisition of the European company, which develops thin film used in solar panels, should accelerate its development of next-generation photovoltaic technology. News Corp — The media company's stock popped 8.48% after it reported an earnings and revenue beat for its fiscal third quarter after the bell Thursday, according to FactSet. JD.com — The Chinese e-commerce company's U.S.-listed shares slid 6.19%, a day after gaining 7.2% on an earnings beat. Charles Schwab — Shares of the brokerage firm rose 2.54% Friday after the company reported total client assets rose 1% in April.

☆ Glass Lewis backs two of Icahn's nominees for Illumina
▼ + stars: | 2023-05-11 | by ( ) www.reuters.com time to read: +2 min

May 10(Reuters) - Proxy adviser Glass Lewis said on Wednesday Illumina Inc (ILMN.O) shareholders should vote for two of Carl Icahn's nominees to the firm's board, as representatives who can challenge the current board would be beneficial to the company. Glass Lewis added shareholders should vote against the re-election of the current chief Francis deSouza and chair John Thompson, saying they had enough reasons to advocate for a new chair. Icahn, who owns 1.4% of Illumina, began a boardroom battle at the gene sequencing company in March. Glass Lewis said in a report it recommends shareholders support Icahn's nominees, Vincent Intrieri and Andrew Teno, adding the company's $7.1 billion acquisition of cancer-testing firm Grail had been a "costly, distracting, value-crimping millstone" for Illumina. However, it did not extend support to Icahn's third candidate, Jesse Lynn, adding that election of all three candidates was not needed.

☆ Stocks making the biggest moves midday: PTN, BYND, GOOGL, PACW and more
▼ + stars: | 2023-05-11 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

The entertainment giant also reported revenue and earnings in line with Wall Street's estimates, according to Refinitiv. AppLovin — Shares popped 23.53% following the company's first-quarter revenue beat. Unity Software's revenue of $500 million beat the $480 million expected from analysts polled by Refinitiv. Tapestry — Shares of the Coach parent jumped 8.27% after the company reported stronger-than-expected earnings and revenue for its latest quarter. Its first-quarter revenue came in at $441 million, versus analyst estimates of $425 million, according to Refinitiv.

☆ For Wall Street's incoming interns, it's not exactly dress to impress
▼ + stars: | 2023-05-11 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

As Wall Street internship season quickly approaches, that's a question many soon-to-be summer analysts are asking each other. One big trend Emmalyse notes in her story is the casualification, so to speak, of Wall Street. But the Wall Street dress code was starting to change before 2020, thanks in large part to the tech community. Read more about Wall Street's new dress code for summer analysts. Wall Street's litigious sibling is not an appealing career path to Gen Zers, the Financial Times reports.

☆ Icahn Enterprises fielding enquiries by U.S. prosecutors
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +2 min

May 10 (Reuters) - Icahn Enterprises LP (IEP.O) said on Wednesday it had received inquiries from U.S. prosecutors about its operations on May 3, a day after a short-seller accused it of over-valuing its assets. The disclosure from Icahn Enterprises that it had received inquiries from prosecutors in the Southern District of New York came as the firm posted a surprise quarterly loss, after volatility in markets hit returns on its investments. It added that the prosecutors had not made any claims or allegations against the company or Icahn. Icahn has called the report "self-serving" and said he stands by Icahn Enterprises statements about his finances. Excluding one-time items, Icahn Enterprises reported a loss of 11 cents per share, missing analysts' average estimate of a 19 cents profit, according to Refinitiv data.

☆ Icahn Enterprises shares slide on surprise quarterly loss
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

May 10 (Reuters) - Icahn Enterprises LP (IEP.O) on Wednesday reported a surprise quarterly loss as volatility in markets hit returns on its investments, sending the shares of the company owned by billionaire Carl Icahn down nearly 8% before the bell. "Icahn has been using money taken in from new investors to pay out dividends to old investors," Hindenburg had alleged about the Florida-based company with investments in the energy, automotive, food packaging, real estate and other industries. Excluding one-time items, Icahn Enterprises reported a loss of 11 cents per share, missing analysts' average estimate of a 19 cents profit, according to Refinitiv data. Revenue for the quarter ended March 31 came in at $2.6 billion compared to $4.1 billion a year earlier. Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Icahn Enterprises Under Investigation by Federal Prosecutors
▼ + stars: | 2023-05-10 | by ( Ben Foldy | ) www.wsj.com time to read: 1 min

Billionaire activist investor Carl Icahn. Photo: Victor J. Blue/BloombergFederal prosecutors opened an inquiry into Carl Icahn ’s investment company, the day after a short seller’s report said the firm was inflating the value of its assets, the company disclosed Wednesday. Icahn Enterprises , the publicly traded firm controlled by Mr. Icahn, was targeted by short seller Hindenburg Research early this month. The next day, the U.S. Attorney’s Office for the Southern District of New York contacted Icahn Enterprises asking for information about corporate governance, dividends and other topics, the firm said in a securities filing Wednesday.

☆ Icahn, Under Federal Investigation, Blasts Short Seller
▼ + stars: | 2023-05-10 | by ( Ben Foldy | ) www.wsj.com time to read: 1 min

Billionaire activist investor Carl Icahn. Photo: Victor J. Blue/BloombergFacing a federal probe over practices at his investment company, activist investor Carl Icahn went on the attack against the short seller that likely spurred the inquiry, accusing it of “wantonly destroying property and harming innocent civilians.”Icahn Enterprises , the publicly traded firm controlled by Mr. Icahn, was targeted by short seller Hindenburg Research early this month. The next day, the U.S. Attorney’s Office for the Southern District of New York contacted Icahn Enterprises asking for information about the value of its assets, corporate governance, dividends and other topics, the firm said in a securities filing Wednesday.

☆ Carl Icahn's company stock falls as much as 20% after prosecutors seek financial information
▼ + stars: | 2023-05-10 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Regulators sought information a day after notable short seller Hindenburg Research took a short position against Icahn's company. The shares fell as much as 20% in morning trading, following a near 25% loss last week. Icahn Enterprises , Carl Icahn's conglomerate, saw its stock drop again Wednesday after a disclosure showed regulators are seeking information regarding its corporate governance. Headquartered in Sunny Isles Beach, Florida, Icahn Enterprises is a holding company that invests in a myriad of businesses including energy, automotive, food packaging, metals and real estate. Shares of Icahn Enterprises are now down more than 35% year to date.

☆ Carl Icahn's investment company has come under investigation by prosecutors following short-seller claims the firm was running a 'Ponzi-like' scheme
▼ + stars: | 2023-05-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Icahn Enterprises is being investigated by prosecutors after claims that the firm is running a "Ponzi-like" scheme. Prosecutors have asked the firm for information related to its financials, according to a Wednesday filing. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyCarl Icahn's investment firm, Icahn Enterprises, is being investigated by federal prosecutors after a short-seller accused the firm of running a "Ponzi-like" scheme. Prosecutors were seeking information related to Icahn Enterprises' corporate governance, stock offerings, dividends, and other aspects of its business, the filing said. Shares of Icahn Enterprises fell 19% on Wednesday, after losing nearly 25% the previous week after Hindenburg's report was first released.

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