Tag Archives: Icahn

Icahn Enterprises Shares Slump After Slashing Its Dividend Following Short-Seller Attack – Investopedia

  1. Icahn Enterprises Shares Slump After Slashing Its Dividend Following Short-Seller Attack Investopedia
  2. Icahn Enterprises L.P. (NASDAQ:IEP) Q2 2023 Earnings Call Transcript Yahoo Finance
  3. Famed activist investor Carl Icahn promises a ‘reset’ as his company’s shares plunge as much as 37% Fortune
  4. Icahn Enterprises Halves Quarterly Dividend Months After Short-Selling Report, Shares Plunge Barchart
  5. Embattled activist investor Carl Icahn’s firm plunges 30% after halving shareholders’ payouts Yahoo Canada Finance
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Lightning Round: Icahn Enterprises probably has another 10% higher to go, says Jim Cramer – CNBC Television

  1. Lightning Round: Icahn Enterprises probably has another 10% higher to go, says Jim Cramer CNBC Television
  2. Corporate raider Carl Icahn recovers $1 billion in his fortune as loan deal with big banks alleviates short-seller assault Fortune
  3. Hedge Fund and Insider Trading News: Carl Icahn, Millennium Management, Bridgewater Associates, Domo Inc (DOMO), Walmart Inc (WMT), and More Insider Monkey
  4. Carl Icahn gets breathing room from banks after short seller Hindenburg’s attack New York Post
  5. Monday Morning’s Moves Have Carl Icahn Smiling The Motley Fool
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Corporate raider Carl Icahn recovers $1 billion in his fortune as loan deal with big banks alleviates short-seller assault – Fortune

  1. Corporate raider Carl Icahn recovers $1 billion in his fortune as loan deal with big banks alleviates short-seller assault Fortune
  2. Carl Icahn Gets Breathing Room From Lenders Following Short-Seller Attack – WSJ The Wall Street Journal
  3. Lightning Round: Icahn Enterprises probably has another 10% higher to go, says Jim Cramer CNBC Television
  4. Icahn Enterprises stock surges after founder untangles loans from share price: Report Yahoo Finance
  5. Icahn Revises Loan Pact With Banks After Short Seller Hindenburg’s Attack Bloomberg
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Icahn Enterprises Shareholder Notice – Icahn Enterprises (NASDAQ:IEP) – Benzinga

  1. Icahn Enterprises Shareholder Notice – Icahn Enterprises (NASDAQ:IEP) Benzinga
  2. The ‘karmic quality’ of Hindenburg’s war on Carl Icahn just took on a new cast. It’s not just shorting his stock anymore but his bonds, too Yahoo Finance
  3. Icahn Enterprises: Stay Out Of The Hindenburg Fight (NASDAQ:IEP) Seeking Alpha
  4. ICAHN ENTERPRISES L.P. (NASDAQ: IEP) SHAREHOLDER CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Icahn Enterprises L.P. (NASDAQ: IEP) PR Newswire
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ICAHN ENTERPRISES L.P. (NASDAQ: IEP) SHAREHOLDER CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Icahn Enterprises L.P. (NASDAQ: IEP) – PR Newswire

  1. ICAHN ENTERPRISES L.P. (NASDAQ: IEP) SHAREHOLDER CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Icahn Enterprises L.P. (NASDAQ: IEP) PR Newswire
  2. The ‘karmic quality’ of Hindenburg’s war on Carl Icahn just took on a new cast. It’s not just shorting his stock anymore but his bonds, too Yahoo Finance
  3. Icahn Enterprises: Stay Out Of The Hindenburg Fight (NASDAQ:IEP) Seeking Alpha
  4. Icahn Enterprises Shareholder Notice – Icahn Enterprises (NASDAQ:IEP) Benzinga
  5. View Full Coverage on Google News

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Icahn Enterprises Shareholder Notice – Icahn Enterprises (NASDAQ:IEP) – Benzinga

  1. Icahn Enterprises Shareholder Notice – Icahn Enterprises (NASDAQ:IEP) Benzinga
  2. The ‘karmic quality’ of Hindenburg’s war on Carl Icahn just took on a new cast. It’s not just shorting his stock anymore but his bonds, too Yahoo Finance
  3. Icahn Enterprises: Stay Out Of The Hindenburg Fight (NASDAQ:IEP) Seeking Alpha
  4. ICAHN ENTERPRISES L.P. (NASDAQ: IEP) SHAREHOLDER CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Icahn Enterprises L.P. (NASDAQ: IEP) PR Newswire
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Hindenburg Research’s big shorts, from Carl Icahn to the Adani Group – Markets Insider

  1. Hindenburg Research’s big shorts, from Carl Icahn to the Adani Group Markets Insider
  2. Icahn Enterprises Shareholder Action Reminder – Icahn Enterprises (NASDAQ:IEP) Benzinga
  3. Who Got Richer And Poorer This Week: Carl Icahn Gets Raided, Loses $6.5 Billion; Shopify CEO Lays Off 20%, Gains $1 Billion Forbes
  4. ICAHN ALERT: Bragar Eagel & Squire, P.C. is Investigating Icahn Enterprises L.P. on Behalf of Icahn Stockholders and Encourages Investors to Contact the Firm Business Wire
  5. Icahn Enterprises Issues Dividend After Hindenburg Attack Yahoo Finance
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Icahn reportedly sells off Occidental Petroleum stake after almost 3 years

Carl Icahn speaking at Delivering Alpha in New York on Sept. 13, 2016.

David A. Grogan | CNBC

Icahn, critical of Occidental’s outbidding of Chevron in a May 2019 deal to buy Anadarko Petroleum with $10 billion of financing from Warren Buffett, had been campaigning for the ouster of CEO Vicki Hollub for almost a year when Occidental’s shares plunged in March 2020 — allowing Icahn to boost his stake to 10% from 2.5%, according to the Journal.

Now, Occidental’s shares are surging, more than quintupling in value since they sank below $10 per share in 2020, largely thanks to the recent rise in oil prices. Its shares closed Friday at $56.15 apiece; that’s just below where they were before the Anadarko deal was finalized, according to the Journal.

Recently, Icahn has been cutting his position in Occidental and he sold the rest of it in recent days, according to a letter Icahn sent to Occidental’s board on Sunday. Icahn’s two representatives on the Occidental board will also resign, the letter noted, as required by a settlement agreement he had reached with the company two years ago this month.

The Journal, citing sources “familiar with the matter,” reports that Icahn has realized a profit of some $1 billion on the Occidental investment. Buffett, meanwhile, has been buying Occidental recently. As of Friday, Buffett’s Berkshire Hathaway reported owning roughly $5 billion worth of Occidental stock.

Icahn of late has been focused on smaller utility company Southwest Gas, according to the Journal. Last week, the energy firm announced plans to separate a subsidiary Icahn had called for it to sell. 

For more details, read the complete Wall Street Journal report here.

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Carl Icahn starts proxy fight with McDonald’s over pigs’ welfare

But McDonald’s has yet to make good on the promise. The company said Sunday that Icahn had nominated two people for election to its board in an apparent start to a proxy battle with the fast-food giant, a confrontational attempt to collect shareholder proxy votes to replace board members, gaining enough power within the company to change its policies.

In recent years, activist investors have used the tactic to not only seek higher profits, but also align companies with their ethical or political stances. A group of investors led by a hedge fund called Engine No. 1 successfully won a third seat on the board of ExxonMobil in June, pushing the oil giant on its positions regarding climate change.

Icahn nominated Leslie Samuelrich, president of Green Century Capital Management, which “leverages its clout as a shareholder to protect our water, air and land,” and Maisie Ganzler, chief strategy and brand officer at Bon Appétit Management Company, which describes itself as “food service for a sustainable future.”

McDonald’s said Icahn’s “stated focus in making this nomination relates to a narrow issue regarding the Company’s pork commitment,” referring to the gestation stalls. A senior supply chain executive at McDonald’s said in 2012 that the crates were “not a sustainable production system for the future” and that “there are alternatives that we think are better for the welfare of sows.”

In a 2017 “Animal Health & Welfare Update,” McDonald’s said that by the end of 2022, it would source its U.S. pork only from suppliers that do not use the stalls for housing pregnant pigs.

But McDonald’s said Sunday that it now expects that only 85 to 90 percent of its U.S. pork will be sourced from pigs not housed in the crates during pregnancy by the end of the year, citing “industry-wide challenges for farmers and producers,” such as the coronavirus pandemic and disease outbreaks. Its commitment to exclusively use pork in the United States that was sourced from “sows housed in groups during pregnancy” is now expected by the end of 2024, McDonald’s said.

Icahn had raised concerns over the scope of McDonald’s 2012 commitment, telling the Wall Street Journal that the company’s suppliers move pigs out of the crates only after it is confirmed that they are pregnant, at which point the sows could be more than a quarter into their 16-week pregnancies. Icahn had expected McDonald’s to ditch gestation crates entirely, he said.

McDonald’s did not immediately respond to a request for comment late Sunday regarding Icahn’s concerns. The company said in its statement that Icahn had “asked for new commitments,” including a demand that McDonald’s suppliers in the United States move to “crate-free” pork. McDonald’s said that “the current pork supply in the U.S. would make this type of commitment impossible,” and that it “would harm the Company’s shared pursuit of providing high quality products at accessible prices.”

According to the Humane Society of the United States, gestation crates are “so restrictive that the pigs cannot turn around.” Pigs relegated to the stalls “suffer a number of significant welfare problems, including elevated risk of urinary tract infections, weakened bones, overgrown hooves” and other issues, it said in a 2013 report. Gestation crates have been banned in at least 10 states, including California, Colorado and Florida, according to Compassion in World Farming.

Icahn told the Journal that “animals are one of the things I feel really emotional about,” adding that he learned of the crates from a Humane Society executive whom he had hosted for dinner at his penthouse in New York City.

Icahn, who is the subject of a new HBO documentary, is worth more than $23 billion, according to the Bloomberg Billionaires Index. His stake in McDonald’s is small: The company said he held about 200 shares, though he told the Journal that he held 100, which would be equivalent to a roughly $25,000 stake in the $187 billion company.

In its statement Sunday, McDonald’s questioned why Icahn hadn’t used his majority stake in the pork and poultry packaging supplier Viskase to force similar commitments on that company. Representatives for Icahn did not immediately respond to a request for comment regarding the McDonald’s statement or about the number of the company’s shares he currently held.

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Carl Icahn nominates directors to McDonald’s board to change pig policy

Activist investor Carl Icahn has launched a highly unusual board fight at McDonald’s to demand the fast-food chain end the practice of keeping pregnant pigs in its supply chain confined in small crates.

In a statement on Sunday, McDonald’s said Icahn had nominated two board directors as part of a campaign related to “a narrow issue regarding the company’s pork” processing. Icahn has asked McDonald’s to require that all its US pork suppliers have “crate-free” pigs and set specific deadlines.

McDonald’s pledged in 2012 to phase out the use of gestation stalls for pregnant sows in its US pork supply chain in 10 years. By the end of 2022, the company expects to source 85 to 90 per cent of its US pork from sows no longer confined to gestation crates, and completely eliminate this sourcing by the end of 2024, the fast-food chain said on Sunday.

But the Humane Society of the US, an animal-rights activist non-profit group, has questioned the company’s commitment. In a shareholder proposal filed in November, the group said it appeared McDonald’s was planning to reduce how long it let suppliers lock pregnant sows in stalls, rather than end the practice entirely.

“McDonald’s in 2012, in working with Carl Icahn and the Humane Society of the US, pledged to eliminate gestation crates,” said Josh Balk, vice-president of farm animal protection at the Humane Society. “Instead, they are allowing pork producers to still confine pregnant pigs for six of the 16 weeks of their pregnancy.”

“[McDonald’s] pledged to get rid of the practice, not still allow six of the 16 weeks to still be confined. We are talking about a month and a half of each pregnancy cycle never being able to turn around.”

Balk said he has been “friendly” with Icahn for more than a decade.

“He is absolutely — to his core — someone who will fight to prevent cruelty to animals,” Balk said. In the past few weeks, Icahn got involved with the gestation crates issue again with McDonald’s and decided to launch the proxy fight, he said.

McDonald’s on Sunday said it disagreed with the Humane Society’s characterisation “of our industry-leading pledge” from 2012.

A spokesperson for Icahn did not immediately have a comment on Sunday. Speaking on Bloomberg TV last week, Icahn said he was close to starting the McDonald’s board fight. “We’re not going to fool around with them any more,” he said.

McDonald’s fired back, criticising Icahn for owning a company — Illinois-based Viskase — that produces and supplies packaging for pork and poultry.

“It’s noteworthy that Icahn has not publicly called on Viskase to adopt commitments” that McDonald’s has adopted for its pig supply, the company said.

McDonald’s said it would be “impossible” to fulfil Icahn’s request. The change would go against “the veterinary science” and “would harm the company’s shared pursuit of providing customers with quality product at accessible prices”, it said.

Icahn has nominated Leslie Samuelrich, president of Green Century Capital Management, a climate-conscious asset manager, and Maisie Ganzler, chief strategy officer at Bon Appétit Management Company, a restaurant company that offers food services.

Icahn has said he owns 200 shares of McDonald’s stock, the company said.

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