At the end of 2Q16, IEP’s market value of subsidiaries was $4.4 billion ($5.6 billion at the end of 1Q16). The value of unlisted companies was $4.6 billion.
Icahn Enterprises (IEP) is scheduled to release its 2Q16 earnings on August 4, 2016. Icahn Enterprises’ 1Q16 revenue stood at $3.1 billion, nearly 26.6% below the market consensus of $4.3 billion.
Icahn Enterprises’ segments invest in businesses that they believe to be undervalued. The company has strong financial muscle to park its permanent capital.
Following the employment report on September 4, the financial and material sectors fell, primarily due to the Fed’s uncertainty surrounding a rate hike.
The energy sector can keep both Russian ETFs down until crude oil prices do not reverse their slide. A fall in energy sector stocks would impact both Russian ETFs.
The Three White Soldiers candlestick pattern is also a reversal pattern. It forms at the bottom of a downtrend. The pattern has three candles. All three of the candles are long and bullish.
JANA Partners’ 13F filing disclosed a brand new position in aluminum product manufacturer Constellium N.V. (CSTM) that accounts for 1.83% of JANA’s 1Q 2014 portfolio.
Soros sold its 1.20% position in Johnson & Johnson (JNJ) last quarter. Johnson & Johnson’s reported 37% increase in adjusted net earnings in 4Q was mainly driven by its pharmaceutical segment.
Soros revealed a 1.03% position in Leucadia National Corp. (LUK). Leucadia is a diversified holding company engaged through its consolidated subsidiaries in a variety of businesses.
Soros initiated a 1.01% position in JP Morgan peer Citigroup Inc. (C) in 4Q 2013. Citigroup Inc (C) saw profits more than double in its 4Q results last month, but shares fell as earnings fell short of analyst estimates.
Soros Management initiated a 1.41% position in JPMorgan Chase (JPM) in 4Q 2013. JPMorgan shares were up in November last year after the bank put its legal issues behind it.
