|Bid||0.00 x 1100|
|Ask||77.10 x 800|
|Day's Range||75.65 - 76.62|
|52 Week Range||50.33 - 81.88|
|Beta (3Y Monthly)||1.36|
|PE Ratio (TTM)||9.07|
|Earnings Date||Jul 31, 2019 - Aug 5, 2019|
|Forward Dividend & Yield||8.00 (10.56%)|
|1y Target Est||58.50|
Occidental Petroleum pens a letter to shareholders, asking them to ignore Icahn's request to add four board members.
Occidental Petroleum Corp on Monday sharply criticized activist investor Carl Icahn's efforts to oust and replace four of its directors, and attacked his slate of board nominees as inadequate for the job. Icahn, who owns 4.4% stake in the Houston-based oil and gas producer, launched a proxy fight last week, arguing that the company overpaid for Anadarko Petroleum and failed to give shareholders a say in the proposed $38 billion deal. The proxy fight is unlikely to stop the Anadarko deal, but would influence the pace and direction of billions of dollars of asset sales that will result after the acquisition closes.
Icahn Enterprises L.P. (IEP) – Icahn Enterprises L.P. (“Icahn Enterprises”) announced today that it, together with Icahn Enterprises Finance Corp. (together with Icahn Enterprises, the “Issuers”), consummated their tack-on offering of an additional $500,000,000 aggregate principal amount of 6.250% Senior Notes due 2026 (the “Notes”) in a private placement not registered under the Securities Act of 1933, as amended (the “Securities Act”) (such offering, the “Notes Offering”).
Icahn Automotive Group LLC, an Icahn Enterprises L.P. company, which owns and operates leading national auto repair and maintenance providers Pep Boys, AAMCO, Precision Tune Auto Care centers, and Jacksonville-area service provider RPM Automotive, today announced the addition of Universal Technical Institute’s (UTI) Orlando campus to its Race to 2026 efforts, concluding the program’s technical school efforts for 2019. In total, Icahn Automotive has partnered with six Universal Technical Institute and Lincoln Tech locations to reach students enrolled in automotive technology programs across the U.S.
Moody's Investors Service ("Moody's") today placed Eldorado Resorts, Inc. (ERI) ratings on review for downgrade in response to the company's announcement that it entered into a merger agreement with Caesars Entertainment Corporation (CEC) for total consideration of $17.3 billion.
Moody's Investors Service, ("Moody's") affirmed CVR Refining, LLC's (CVR) Ba3 Corporate Family Rating (CFR), Ba3-PD probability of default rating and the B1 rating on its senior unsecured guaranteed notes. The Speculative Grade Liquidity Rating was upgraded to SGL-1 from SGL-2. "The affirmation of CVR's Ba3 Corporate Family Rating reflects its strong management, good operating results and a track record of varying distributions with cash flow," said Elena Nadtotchi, Moody's Senior Credit Officer.
Investors have piled into riskier markets in search of yield, driving a rally in the lower-rated parts of the bond market, known as high yield or junk.
Icahn Enterprises L.P. (IEP) – Icahn Enterprises L.P. (“Icahn Enterprises”) announced today that it, together with Icahn Enterprises Finance Corp. (together with Icahn Enterprises, the “Issuers”), priced their offering of $500,000,000 aggregate principal amount of additional 6.250% Senior Notes due 2026 (the “Notes”) in a private placement not registered under the Securities Act of 1933, as amended (the “Securities Act”) (such offering, the “Notes Offering”). The aggregate principal amount represents an increase in the size of the Notes Offering of $250,000,000 from the previously announced offering of $250,000,000. The Notes Offering is expected to close on June 27, 2019, subject to customary closing conditions.
(Bloomberg Opinion) -- In M&A, much like in blackjack, players have to be wary of a stiff hand – bid too high and it could be a bust. That’s especially true when the dealer is Carl Icahn. Eldorado Resorts Inc., a casino operator, is being punished by shareholders for its acquisition announced Monday of Caesars Entertainment Corp. Eldorado’s stock tumbled more than 8% percent.The company agreed to buy its Las Vegas-based rival for $17.3 billion, about half of which is made up of debt. It’s the biggest casino deal since Caesars’ ill-fated leveraged buyout by TPG and Apollo Management in 2008 (which came together just before the financial crisis took hold and later led Caesars into bankruptcy). Eldorado also struck a parallel $3.2 billion deal with VICI Properties Inc. for certain related real estate assets, such as the Harrah’s Resort in Atlantic City. Icahn, Caesars’ top shareholder, had been pushing for a sale of the company and helped install industry veteran Tony Rodio as its CEO in April. The situation happens to bear close resemblance to another deal Eldorado did last year, when it acquired Tropicana Entertainment from Icahn Enterprises LP, the billionaire’s holding company, for $1.85 billion. Rodio was CEO of Tropicana, too. With the Caesars transaction, Reno, Nevada-based Eldorado is expanding its portfolio to 60 casino resorts and gaming facilities in 16 states. It had just two as of 2014, according to Bloomberg Intelligence. There are the benefits of getting bigger, but at the same time, Eldorado’s calculations leave little room for error. Its offer for Caesars is a combination of cash and stock that amounts to $12.75 a share, a significant bump from its earlier $10.50-a-share bid that was reported this month by the New York Post, citing an unnamed source. On average, analysts pegged the stand-alone value of Caesars shares at $11 apiece. The final takeover price is a 35% premium to its average closing level over the past 20 trading sessions, though Icahn himself notes that it’s 51% higher than Caesars’ stock price before he won three seats on the board in March and began making his sale push. Icahn built his stake when the stock was trading below $9. Eldorado estimates $500 million of cost savings from the deal, a figure that has analysts from Sanford C. Bernstein skeptical. “While Eldorado has been successful in rolling up gaming assets across the U.S., this acquisition of a whale operator is at a completely different level,” they wrote in a report published Monday. The synergies estimate is also double what Brian Egger, an analyst for Bloomberg Intelligence, had assumed.The suitor beat out Golden Nugget owner Tilman Fertitta, but now it needs to prove to investors that it was worth it. As for Icahn, once again, the house wins. To contact the author of this story: Tara Lachapelle at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering deals, Berkshire Hathaway Inc., media and telecommunications. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Icahn Enterprises L.P. (IEP) – Icahn Enterprises L.P. (“Icahn Enterprises”) announced today that it, together with Icahn Enterprises Finance Corp. (together with Icahn Enterprises, the “Issuers”), intends to commence an offering of additional 6.250% Senior Notes due 2026 (the “Notes”) for issuance in a private placement not registered under the Securities Act of 1933, as amended (the “Securities Act”). The Notes will be issued under the indenture dated as of May 10, 2019 by and among the Issuers, Icahn Enterprises Holdings L.P., as guarantor (the “Guarantor”), and Wilmington Trust, National Association, as trustee, and will be guaranteed by the Guarantor.
Google the question "What's considered a high dividend yield?" and you get more than 65 million results. That's because many investors are on the hunt for dividend stocks to buy that not only appreciate over time but also pay a high dividend. So what is a high-dividend yield stock? One that pays 1%? 3%? 5%? The truth is there is no strict rule. If you are interested in high-yield dividend stocks, it's better to focus on a company's history of growing its dividend rather than just looking for the juiciest dividend yields. That's because dividend yields are often high due to some problem with the business that's knocked its share price lower. That said, if you can find a group of stocks that yield 5% and have demonstrated the ability to grow the annual payment over a decent amount of time, double-digit total returns won't be nearly as difficult to achieve.The trick is finding those stocks. Here are seven high-yield dividend stocks to buy with a payout of 5% or more that I believe can get the job done. SEE ALSO FROM KIPLINGER: 33 Ways to Get Higher Yields
Sugar Land-based refiner CVR Energy Inc. (NYSE: CVI) is considering a potential sale of the company or other strategic alternatives and recently sold an asset, according to a May 21 press release. Bank of America Merrill Lynch is serving as financial adviser to assist CVR Energy in evaluating potential strategic alternatives. CVR Energy does not plan to comment on the process until it has more news to share.
Rating Action: Moody's changes CVR Partners' outlook to stable; ratings affirmed. Global Credit Research- 20 May 2019. New York, May 20, 2019-- Moody's Investors Service affirmed all ratings for CVR Partners, ...
Icahn Enterprises L.P. (IEP) – Icahn Enterprises L.P. (“Icahn Enterprises”) announced today that it, together with Icahn Enterprises Finance Corp. (together with Icahn Enterprises, the “Issuers”), consummated their offering of $750,000,000 aggregate principal amount of 6.250% Senior Notes due 2026 (the “Notes”) in a private placement not registered under the Securities Act of 1933, as amended (the “Securities Act”) (such offering, the “Notes Offering”). The Notes were issued under an indenture by and among the Issuers, Icahn Enterprises Holdings L.P., as guarantor (the “Guarantor”), and Wilmington Trust, National Association, as trustee, and are guaranteed by Icahn Enterprises Holdings L.P. The proceeds from the Notes Offering will be used for general limited partnership purposes, including the possible repayment of existing senior unsecured notes or to fund potential acquisitions.
Moody's Investors Service ("Moody's") affirmed Icahn Enterprises L.P.'s (IEP) Ba3 Corporate Family Rating following the company's announcement to issue new senior unsecured notes due 2026 and its previously announced plan to issue $400 million of depository units. Please see the Rating Methodologies page on www.moodys.com for a copy of this methodology.
Icahn Enterprises said it received a subpoena after critics questioned the timing of Manitowoc stock sales Icahn, who briefly served as an unpaid adviser to U.S. President Donald Trump, made before his administration announced steep steel tariffs in March 2018. Questions had swirled about whether the sales were prompted by inside information about Trump's plans. The stocks of many U.S. industrial companies, major consumers of steel, fell that day after the announcement, with Manitowoc losing more than 6%.