Ciara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
Icahn Enterprises L.P.’s stock closed at its lowest level since June 8, 2004 on Friday, ahead of the release of third-quarter earnings on Friday. The stock has languished this year after short seller Hindenburg Research published a scathing article about the company, which is the investing arm of billionaire activist investor Carl Icahn.
The Nate Anderson-backed Hindenburg had accused Icahn Enterprises of overstating values and paying a dividend it could not afford. The stock immediately shed billions of dollars in market capitalization, and in August, the company slashed its dividend in half. The company is expecting to report third-quarter per-share earnings of 34 cents, according to analysts polled by FactSet, after a loss of 37 cents a year ago. Revenue is expected to fall to $2.712 billion from $3.334 billion a year ago.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Three injured after shooting at Otay Ranch Town Center breweryCiara Encinas joined the ABC 10News team in December 2021 as a multimedia journalist.
Read more »
Lakeside family cheers on son as he plays in the World SeriesCiara Encinas joined the ABC 10News team in December 2021 as a multimedia journalist.
Read more »
The Life of Carl JungHow Jung’s life holds all the keys to his theory.
Read more »
Jets pass-rusher Carl Lawson: ‘I’m a football player, not a cheerleader’The former Auburn standout is the subject of trade speculation in New York.
Read more »
Carl Pei reveals why the Nothing Power (1) never made it to the marketplaceAlan, an ardent smartphone enthusiast and a veteran writer at PhoneArena since 2009, has witnessed and chronicled the transformative years of mobile technology. Owning iconic phones from the original iPhone to the iPhone 11 Pro Max, he has seen smartphones evolve into a global phenomenon.
Read more »