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IEP

Icahn Enterprises

$55.49

-0.75 (-1.33%)

17:56
03/01/17
03/01
17:56
03/01/17
17:56

Icahn Enterprises to sell Trump Taj Mahal Casino Resort

Icahn Enterprises announced entrance into a definitive agreement to sell the former Trump Taj Mahal Casino Resort in Atlantic City, New Jersey to a group of investors led by Hard Rock International. IEP acquired the Taj Mahal in February 2016 when Trump Entertainment Resorts Inc. emerged from bankruptcy. The Taj Mahal ceased its casino and hotel operations on October 10, 2016. The sale is subject to customary closing conditions but is not subject to any financing condition. The sale does not include the former Trump Plaza Hotel and Casino in Atlantic City, which IEP continues to own and market for sale. Carl C. Icahn, Chairman of Icahn Enterprises, stated: "We at IEP are extremely happy with our ownership of the Tropicana Casino & Resort, and after considerable analysis and deliberation we determined that we only wanted to own one operating casino property in Atlantic City. A sale of the Taj Mahal therefore represents the optimal outcome for us. We wish Hard Rock and its partners the best of luck with the Taj Mahal."

  • 01

    Mar

IEP Icahn Enterprises
$55.49

-0.75 (-1.33%)

08/18/16
UBSW
08/18/16
DOWNGRADE
Target $30
UBSW
Sell
Icahn Enterprises downgraded to Sell from Neutral at UBS
UBS analyst Brennan Hawken downgraded Icahn Enterprises (IEP) to Sell saying the company's net asset value, despite declining 49% since Q2 of 2015, seems to include optimistic valuations. Icahn uses public comps to value its Tropicana and Viskase (VKSC) holdings rather than using the stocks' publicly traded market values, Hawken tells investors in a research note. He views the public market price as a more valid indicator of fair value. The analyst cut his price target for Icahn Enterprises to $30 from $52. The holding company which Carl Icahn chairs closed yesterday down $1.54 to $58.36.
08/18/16
08/18/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Twitter (TWTR) downgraded to Sell from Hold at Evercore ISI with analyst Ken Sena saying he sees "more risk than reward" ahead of Snapchat's anticipated monetization ramp this fall. 2. Ambev (ABEV) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Jeronimo De Guzman saying valuation is full and sees difficult near-term trends ahead given lower disposable income, volume weakness, and lower realized pricing. 3. Icahn Enterprises (IEP) downgraded to Sell from Neutral at UBS saying the company's net asset value, despite declining 49% since second quarter of 2015, seems to include optimistic valuations. 4. Cerulean (CERU) downgraded to Neutral from Buy at Janney Capital, to Market Perform from Outperform at Leerink, and to Market Perform from Outperform at JMP Securities. 5. Magellan Midstream (MMP) downgraded to Underweight at Morgan Stanley with analysts led by Tom Abrams citing a relatively high valuation as the number of lower multiple investment choices has increased. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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RIC

Richmont Mines

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MGLN

Magellan Health

$83.65

0.35 (0.42%)

15:18
11/24/17
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  • 01

    Dec

SGMS

Scientific Games

$52.00

-0.2 (-0.38%)

15:17
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Scientific Games to host special shareholder meeting »

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

15:16
11/24/17
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Technical Analysis
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$NSD

NASDAQ Market Internals

14:17
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Volume is above average…

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$NYE

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M

Macy's

$21.07

0.44 (2.13%)

, WMT

Wal-Mart

$96.62

0.21 (0.22%)

13:29
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General news
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M

Macy's

$21.07

0.44 (2.13%)

WMT

Wal-Mart

$96.62

0.21 (0.22%)

TGT

Target

$55.88

-1.61 (-2.80%)

BASFY

BASF

$27.39

-0.13 (-0.47%)

TEVA

Teva

$13.70

0.22 (1.63%)

CBS

CBS

$56.54

0.3 (0.53%)

DISH

Dish

$50.43

0.39 (0.78%)

ASX

Advanced Semiconductor

$7.07

0.76 (12.04%)

SPIL

Siliconware Precision

$7.94

-0.05 (-0.63%)

QD

Qudian

$12.22

-3.93 (-24.33%)

BABA

Alibaba

$191.19

1.35 (0.71%)

VIPS

Vipshop

$8.14

-0.3 (-3.55%)

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  • 24

    Nov

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    Mar

AFL

Aflac

$85.00

-0.05 (-0.06%)

13:26
11/24/17
11/24
13:26
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13:26
Conference/Events
Aflac to hold a conference call »

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  • 01

    Dec

GBL

GAMCO Investors

, WTS

Watts Water

$72.65

0.15 (0.21%)

13:26
11/24/17
11/24
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Hot Stocks
Breaking Hot Stocks news story on GAMCO Investors, Watts Water »

Gabelli reports 6.69%…

GBL

GAMCO Investors

WTS

Watts Water

$72.65

0.15 (0.21%)

03/08/13
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  • 04

    Dec

CC

Chemours

$53.31

0.45 (0.85%)

13:23
11/24/17
11/24
13:23
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Conference/Events
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  • 01

    Dec

$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

13:16
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AIMT

Aimmune

$35.74

0.16 (0.45%)

13:09
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Aimmune to hold an investor symposium »

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  • 28

    Nov

PN

Patriot National

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CMCM

Cheetah Mobile

$12.02

-0.4 (-3.22%)

12:55
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Options
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GM

General Motors

$44.47

0.1828 (0.41%)

12:53
11/24/17
11/24
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Conference/Events
General Motors holds an investor an analyst webcast »

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  • 30

    Nov

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    Jan

12:45
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Week of 11/24…

EBAY

eBay

$35.94

-0.02 (-0.06%)

, OSTK

Overstock.com

$61.05

0.6 (0.99%)

12:43
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Periodicals
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EBAY

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$35.94

-0.02 (-0.06%)

OSTK

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$61.05

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AMZN

Amazon.com

$1,156.16

16.67 (1.46%)

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  • 27

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