CVR Energy Stock (NYSE:CVI), Trade Ideas

CVR Energy

CVR Energy Inc is a holding company that engages in petroleum refining and nitrogen fertilizer manufacturing through its subsidiaries. subsidiaries include several complex full-coking crude oil refineries, along with a crude oil gathering system, pipelines and storage tanks, and marketing and supply. The company's refineries can process blends of a variety of crude oil ranging from heavy sour to light sweet crude oil. Crude oil for CVR's refineries is supplied through its wholly-owned gathering system and pipeline. From its refineries, CVR supplies products through tanker trucks directly to customers located in close geographic proximity and customers at throughput terminals. The company's customers include retailers, railroads, and farm cooperatives.

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CVR Energy Inc

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<p>Scotiabank  analyst Paul Cheng   maintains CVR Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVI#NYSE">CVI</a>) with a Sector Underperform and raises the price target from $25 to $29.</p>


Scotiabank Maintains Sector Underperform on CVR Energy, Raises Price Target to $29

<p>CVR Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVI#NYSE">CVI</a>) reported quarterly Adj earnings of $0.65 per share which beat the analyst consensus estimate of $0.34 by 91.18 percent. This is a 61.31 percent decrease over earnings of $1.68 per share from the same period last year. The company reported quarterly sales of $2.20 billion which missed the analyst consensus estimate of $2.26 billion by 2.42 percent. This is a 17.81 percent decrease over sales of $2.68 billion the same period last year.</p>


Earnings

CVR Energy Q4 Adj EPS $0.65 Beats $0.34 Estimate, Sales $2.20B Miss $2.26B Estimate

<p>Today, February 20, 2024, marks an important moment for investors of <b>Sunoco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUN#NYSE">SUN</a>)</b>. The company will distribute a dividend payout of $0.84 per share, demonstrating an annualized dividend yield of 6.14%. Remember, only shareholders prior to the ex-dividend date on February 06, 2024 are eligible for this payout.</p>
<h3>Sunoco Recent Dividend Payouts</h3>
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    </style><table>
<thead>
<tr>
<th><strong>Ex-Date</strong></th>
<th style="text-align: right;"><strong>Payments per year</strong></th>
<th><strong>Dividend</strong></th>
<th><strong>Yield</strong></th>
<th><strong>Announced</strong></th>
<th><strong>Record</strong></th>
<th><strong>Payable</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>2024-02-06</td>
<td style="text-align: right;">4</td>
<td>$0.84</td>
<td>6.14%</td>
<td>2024-01-25</td>
<td>2024-02-07</td>
<td>2024-02-20</td>
</tr>
<tr>
<td>2023-10-27</td>
<td style="text-align: right;">4</td>
<td>$0.84</td>
<td>6.61%</td>
<td>2023-10-20</td>
<td>2023-10-30</td>
<td>2023-11-20</td>
</tr>
<tr>
<td>2023-08-11</td>
<td style="text-align: right;">4</td>
<td>$0.84</td>
<td>7.5%</td>
<td>2023-07-25</td>
<td>2023-08-14</td>
<td>2023-08-21</td>
</tr>
<tr>
<td>2023-05-05</td>
<td style="text-align: right;">4</td>
<td>$0.84</td>
<td>7.48%</td>
<td>2023-04-26</td>
<td>2023-05-08</td>
<td>2023-05-22</td>
</tr>
<tr>
<td>2023-02-06</td>
<td style="text-align: right;">4</td>
<td>$0.83</td>
<td>7.24%</td>
<td>2023-01-25</td>
<td>2023-02-07</td>
<td>2023-02-21</td>
</tr>
<tr>
<td>2022-11-03</td>
<td style="text-align: right;">4</td>
<td>$0.83</td>
<td>7.98%</td>
<td>2022-10-25</td>
<td>2022-11-04</td>
<td>2022-11-18</td>
</tr>
<tr>
<td>2022-08-05</td>
<td style="text-align: right;">4</td>
<td>$0.83</td>
<td>8.45%</td>
<td>2022-07-26</td>
<td>2022-08-08</td>
<td>2022-08-19</td>
</tr>
<tr>
<td>2022-05-06</td>
<td style="text-align: right;">4</td>
<td>$0.83</td>
<td>7.92%</td>
<td>2022-04-26</td>
<td>2022-05-09</td>
<td>2022-05-19</td>
</tr>
<tr>
<td>2022-02-07</td>
<td style="text-align: right;">4</td>
<td>$0.83</td>
<td>7.69%</td>
<td>2022-01-26</td>
<td>2022-02-08</td>
<td>2022-02-18</td>
</tr>
<tr>
<td>2021-11-04</td>
<td style="text-align: right;">4</td>
<td>$0.83</td>
<td>7.91%</td>
<td>2021-10-25</td>
<td>2021-11-05</td>
<td>2021-11-19</td>
</tr>
<tr>
<td>2021-08-05</td>
<td style="text-align: right;">4</td>
<td>$0.83</td>
<td>9.09%</td>
<td>2021-07-22</td>
<td>2021-08-06</td>
<td>2021-08-19</td>
</tr>
<tr>
<td>2021-05-10</td>
<td style="text-align: right;">4</td>
<td>$0.83</td>
<td>10.18%</td>
<td>2021-04-02</td>
<td>2021-05-11</td>
<td>2021-05-19</td>
</tr>
</tbody>
</table>
<p>Sunoco is the leader in terms of dividend yield compared to its industry peers, with <b>CVR Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVI#NYSE">CVI</a>)</b> having the highest annualized dividend yield at 5.71%.</p>
<h3>Analyzing Sunoco Financial Health</h3>
<p>Companies that pay out steady cash dividends are attractive to income-seeking investors, and companies that are financially healthy tend to maintain their dividend payout schedule. For this reason, investors can find it insightful to see if a company has been increasing or decreasing their dividend payout schedule and if their earnings are growing. </p>
<h3>YoY Growth in Dividend Per Share</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1708441519_0.png" alt="dividend chart graph" /></p>
<p>From 2020 to 2023, the company's dividend per share showed a positive trend, increasing steadily from $3.30 in 2020 to $3.35 in 2023. This demonstrates the company's commitment to rewarding shareholders by consistently raising dividends.</p>
<h3>YoY Earnings Growth For Sunoco</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1708441519_1.png" alt="earning chart graph" /></p>
<p>Investors can observe a growth in earnings for Sunoco from 2020 to 2023, as earnings per share increased from $0.78 to $5.56. This upward trajectory in earnings indicates potential for future cash dividend payout increases, which can be advantageous for income-seeking investors.</p>
<h3>Recap</h3>
<p>In this article, we explore the recent dividend payout of Sunoco and its significance for shareholders. The company has decided to distribute a dividend of $0.84 per share today, which equates to an annualized dividend yield of 6.14%.</p>
<p>Sunoco is the leader in terms of dividend yield compared to its industry peers, with CVR Energy having the highest annualized dividend yield at 5.71%.</p>
<p>The upward trend in dividend per share and earnings per share for Sunoco from 2020 to 2023 reflects a strong financial position, supporting the company's ability to consistently distribute profits to their investors.</p>
<p>Investors are advised to closely monitor the company's performance in the upcoming quarters to stay informed about any fluctuations in financials or dividend disbursements.</p>
<p>[Click here](<a href="https://www.benzinga.com/stock//dividends" title="https://www.benzinga.com/stock//dividends">https://www.benzinga.com/stock//dividends</a>) to find details on Sunoco's previous dividends.</p>
<p>To keep track of which companies are distributing dividends, <a href="https://www.benzinga.com/calendars/dividends">click here</a> to visit our Dividends Calendar.  </p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


Sunoco Demonstrates Strong Performance and Increased Profits, Maximizing Returns for Shareholders

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Earnings Scheduled For February 20, 2024

<p><strong>CVR Energy</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVI#NYSE">CVI</a>) is set to give its latest quarterly earnings report on Tuesday, 2024-02-20. Here's what investors need to know before the announcement.</p>
<p>Analysts estimate that CVR Energy will report an <strong>earnings per share</strong> (EPS) of $0.34. </p>
<p>CVR Energy bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.</p>
<p>New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).</p>
<h3>Past Earnings Performance</h3>
<p>Last quarter the company missed EPS by $0.04, which was followed by a 4.2% increase in the share price the next day.</p>
<p>Here's a look at CVR Energy's past performance and the resulting price change:</p>
<p>
<table>
<thead>
<tr>
<th><strong>Quarter</strong></th>
<th><strong>Q3 2023</strong></th>
<th><strong>Q2 2023</strong></th>
<th><strong>Q1 2023</strong></th>
<th><strong>Q4 2022</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>EPS Estimate</strong></td>
<td>1.93</td>
<td>1.21</td>
<td>1.04</td>
<td>1.48</td>
</tr>
<tr>
<td><strong>EPS Actual</strong></td>
<td>1.89</td>
<td>1.64</td>
<td>1.44</td>
<td>1.68</td>
</tr>
<tr>
<td><strong>Price Change %</strong></td>
<td>4.2%</td>
<td>-1.69%</td>
<td>-1.95%</td>
<td>-2.82%</td>
</tr>
</tbody>
</table>
</p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1708354916_0.png" alt="eps graph" /></p>
<h3>Stock Performance</h3>
<p>Shares of CVR Energy were trading at $35.67 as of February 15. Over the last 52-week period, shares are up 8.68%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. </p>
<p><a href="https://www.benzinga.com/quote/CVI/earnings"><strong>To track all earnings releases for CVR Energy visit their earnings calendar on our site.</strong></a></p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


Earnings Preview: CVR Energy

<p>Scotiabank  analyst Paul Cheng   downgrades CVR Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVI#NYSE">CVI</a>) from Sector Perform to Sector Underperform and lowers the price target from $28 to $25.</p>


Downgrades

Scotiabank Downgrades CVR Energy to Sector Underperform, Lowers Price Target to $25

Offerings

CVR Energy Announced Private Placement Offering Of $600M In Aggregate Principal Amount Of Senior Unsecured Notes Due 2029

CVR Energy Announced A Q3 2023 Cash Dividend Of $0.50/Share; In Addition, The Company Announced A Special Dividend Of $1.50/Share

<p>The quarterly dividend&nbsp;of 50 cents per share and special dividend&nbsp;will be paid on November&nbsp;20, 2023, to stockholders of record as of November&nbsp;13, 2023.</p>


CVR Energy Declares Special Dividend Of $1.50 Per Share

<p>CVR Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVI#NYSE">CVI</a>) reported quarterly adj. earnings of $1.89 per share which missed the analyst consensus estimate of $1.93 by 2.07 percent. This is a 0.53 percent decrease over earnings of $1.90 per share from the same period last year. The company reported quarterly sales of $2.52 billion which beat the analyst consensus estimate of $2.38 billion by 5.97 percent. This is a 6.56 percent decrease over sales of $2.70 billion the same period last year.</p>


CVR Energy Q3 Adj EPS $1.89 Misses $1.93 Estimate, Sales $2.52B Beat $2.38B Estimate

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Earnings Scheduled For October 30, 2023

<p><strong>CVR Energy</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVI#NYSE">CVI</a>) is set to give its latest quarterly earnings report on Monday, 2023-10-30. Here's what investors need to know before the announcement.</p>
<p>Analysts estimate that CVR Energy will report an <strong>earnings per share</strong> (EPS) of $1.93. </p>
<p>CVR Energy bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.</p>
<p>New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).</p>
<h3>Past Earnings Performance</h3>
<p>Last quarter the company beat EPS by $0.43, which was followed by a 1.69% drop in the share price the next day.</p>
<p>Here's a look at CVR Energy's past performance and the resulting price change:</p>
<p>
<table>
<thead>
<tr>
<th><strong>Quarter</strong></th>
<th><strong>Q2 2023</strong></th>
<th><strong>Q1 2023</strong></th>
<th><strong>Q4 2022</strong></th>
<th><strong>Q3 2022</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>EPS Estimate</strong></td>
<td>1.21</td>
<td>1.04</td>
<td>1.48</td>
<td>1.93</td>
</tr>
<tr>
<td><strong>EPS Actual</strong></td>
<td>1.64</td>
<td>1.44</td>
<td>1.68</td>
<td>1.90</td>
</tr>
<tr>
<td><strong>Price Change %</strong></td>
<td>-1.69%</td>
<td>-1.95%</td>
<td>-2.82%</td>
<td>-2.71%</td>
</tr>
</tbody>
</table>
</p>
<p><img src="https://www.benzinga.com/files/images/story/2023/1698422496_0.png" alt="eps graph" /></p>
<h3>Stock Performance</h3>
<p>Shares of CVR Energy were trading at $31.44 as of October 26. Over the last 52-week period, shares are down 20.05%. Given that these returns are generally negative, long-term shareholders are likely upset going into this earnings release. </p>
<p><a href="https://www.benzinga.com/quote/CVI/earnings"><strong>To track all earnings releases for CVR Energy visit their earnings calendar on our site.</strong></a></p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


A Preview Of CVR Energy's Earnings

<p>During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a <a href="https://www.benzinga.com/yield-investments"><em> high dividend payout. </em></a></p>
<p>Benzinga readers can review the latest analyst takes on&nbsp;their favorite stocks&nbsp;by visiting our&nbsp;<a href="https://www.benzinga.com/analyst-stock-ratings" target="_blank">Analyst Stock Ratings&nbsp;</a>page. Traders can sort through Benzinga&#39;s extensive database of analyst ratings, including&nbsp;by analyst accuracy. Here&#39;s a look at the most recent high-yield dividend&nbsp;stock ratings from the most accurate Wall Street analysts, according to Benzinga&#39;s&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock&nbsp;</a><a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Ratings</a>.</p>
<p>Below are the ratings of the most accurate analysts for three high-yielding stocks in the energy sector.</p>
<h3><strong>CVR Energy, Inc. </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvi#NYSE">CVI</a>)</h3>
<ul>
<li><strong>Dividend Yield:</strong> 6.19%</li>
<li><strong>Goldman Sachs</strong> analyst Neil Mehta maintained a Sell rating and raised the price target from $28 to $31 on Sept. 1, 2023. This analyst has an accuracy rate of 73%</li>
<li><strong>Wolfe Research</strong> analyst Sam Margolin downgraded the stock from Outperform to Peer Perform on Sept. 15, 2022. This analyst has an accuracy rate of 62%.</li>
<li><strong>Recent News:</strong> CVR Energy reported better-than-expected second-quarter EPS results.</li>
</ul>
<h3><strong>SFL Corporation Ltd.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sfl#NYSE">SFL</a>)</h3>
<ul>
<li><strong>Dividend Yield:</strong> 8.82%</li>
<li><strong>Citigroup</strong> analyst Christian Wetherbee maintained a Neutral rating and raised the price target from $9.5 to $10 on Aug. 18, 2023. This analyst has an accuracy rate of 71%.</li>
<li><strong>B. Riley Securities</strong> analyst Liam Burke maintained a Neutral rating and increased the price target from $11.5 to $12 on Feb. 16, 2023. This analyst has an accuracy rate of 67%.</li>
<li><strong>Recent News:</strong> SFL reported second-quarter revenue of $164.56 million, which missed the consensus of $175.23 million.</li>
</ul>
<h3><strong>Antero Midstream Corporation</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/am#NYSE">AM</a>)</h3>
<ul>
<li><strong>Dividend Yield:</strong> 7.24%</li>
<li><strong>Goldman Sachs</strong> analyst John Mackay reinstated a Neutral rating with a price target of $12.5 on Oct. 6, 2023. This analyst has an accuracy rate of 62%.</li>
<li><strong>UBS</strong> analyst Brian Reynolds maintained a Buy rating and cut the price target from $15 to $14 on Oct. 5, 2023. This analyst has an accuracy rate of 64%.</li>
<li><strong>Recent News:</strong> Antero Midstream posted better-than-expected second-quarter earnings.</li>
</ul>
<p>Read More: <a href="https://www.benzinga.com/news/earnings/23/10/35387029/investor-fear-eases-slightly-ahead-of-big-earnings"><em> Investor Fear Eases Slightly Ahead Of Big Earnings </em></a></p>


Check Out 3 Energy Stocks With Over 6% Dividend Yields From Wall Street's Most Accurate Analysts

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Shares of energy stocks are trading lower amid a drop in oil prices.

<p><strong>CARL ICAHN</strong>, 10% Owner at <strong>CVR Energy</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVI#NYSE">CVI</a>), reported a large insider sell on September 12, according to a new SEC filing. </p>
<p><strong>What Happened:</strong> A Form 4 filing from the <a href="https://www.sec.gov/Archives/edgar/data/0001376139/000153949723001565//Archives/edgar/data/1376139/000153949723001565/0001539497-23-001565-index.htm">U.S. Securities and Exchange Commission</a> on Tuesday showed that ICAHN sold 4,100,000 shares of <strong>CVR Energy</strong>. The total transaction amounted to $144,320,000. </p>
<p><strong>CVR Energy</strong> shares are trading down 4.64% at $35.32 at the time of this writing on Tuesday morning.</p>
<p><a href="https://www.schwab.com/brokerage?aff=XEC"><em>Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</em></a></p>
<h3>Why Insider Transactions Are Important</h3>
<p>Insider transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.</p>
<p>In legal terms, an "insider" refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.</p>
<p>When a company insider makes a new purchase, that is an indication that they expect the stock to rise.</p>
<p>Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down.  </p>
<h3>Transaction Codes To Focus On</h3>
<p><a href="https://www.benzinga.com/money/investing-tools">Investors</a> prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A  <strong>P</strong> in Box 3 indicates a purchase, while  <strong>S</strong> indicates a sale. Transaction code <strong>C</strong> indicates the conversion of an option, and transaction code <strong>A</strong> indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.</p>
<p><a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001376139"><strong>Check Out The Full List Of CVR Energy's Insider Trades.</strong></a></p>
<p><em>This article was generated by Benzinga's automated content engine and reviewed by an editor.</em></p>


Insider Trades

CVR Energy Recent Insider Activity

<p>Goldman Sachs  analyst Neil Mehta   maintains CVR Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVI#NYSE">CVI</a>) with a Sell and raises the price target from $28 to $31.</p>


Goldman Sachs Maintains Sell on CVR Energy, Raises Price Target to $31

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Shares of energy stocks are trading higher in anticipation of decreasing supply. China stimulus measures may also be lifting demand outlook.

<p>It has been a data-rich week, culminating with the Bureau of Labor Statistics releasing the August <a href="https://www.benzinga.com/news/23/09/34170413/august-jobs-report-tops-forecasts-but-unemployment-ticks-higher-wage-growth-slows">jobs report on Friday.</a></p>
<p>Despite non-farm payrolls surpassing expectations at 187,000 versus the projected 170,000, the report revealed an uptick in the unemployment rate, rising from 3.5% to 3.8%, and wage growth falling short of predictions.</p>
<p>On the same day, the ISM Manufacturing PMI showed a marginal increase from 46.4 to 47.6, though it remained in contraction territory.</p>
<p>These numbers reaffirm the &#8216;not too hot, not too cold&#8217; state of the economy, consistent with the <a href="https://www.benzinga.com/news/econ-s/23/08/34141908/feds-favored-inflation-gauge-matches-expectations-july-pce-price-index-inches-up-to-3-3">PCE price index data</a> – the Fed&#8217;s favorite inflation gauge – meeting expectations earlier in the week.</p>
<p>Risk assets, especially stocks, are responding positively to this new &#8216;Goldilocks&#8217; scenario for the U.S. economy, with investors increasingly confident that the latest economic data may lead the Fed to conclude its rate-hike campaign. Fed futures now indicate a 93% likelihood of unchanged rates in September and 63% in November, according to the CME Group Fed Watch Tool. </p>
<p>The S&amp;P 500 index, tracked by the <strong>SPDR S&amp;P 500 ETF Trust</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), has risen by 2.8% this week, putting it on track for its best weekly performance since the end of March 2023, the second-best of the year.</p>
<p><em>Also Read: <a href="https://www.benzinga.com/news/large-cap/23/09/34175244/exclusive-ark-invest-was-there-with-nvidia-at-5-cathie-wood-tells-benzinga">EXCLUSIVE: Ark Invest Was &#8216;There&#8217; With Nvidia At $5, Cathie Wood Tells Benzinga</a></em></p>
<h2 class="wp-block-heading">Friday&#8217;s Best Performing Equity ETFs</h2>
<p>Here are the equity ETFs that rallied today following the release of the latest economic data:</p>
<ol>
<li><strong>VanEck Oil Services ETF </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) up 2.8%<br />&#8211; Best performing stock: <strong>Nabors Industries Ltd. </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBR#NYSE">NBR</a>) up 7.2%<br /></li>
<li><strong>SPDR Metals &amp; Mining ETF</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>) up 2.3%<br />&#8211; Best performing stock: <strong>Freeport McMoran Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) up 4.5%<br /></li>
<li><strong>SPDR S&amp;P Oil &amp; Gas Explor &amp; Production </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) up 2.2%<br />&#8211; Best performing stock: <strong>CVR Energy Inc.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVI#NYSE">CVI</a>) up 4.5%<br /></li>
<li><strong>SPDR Regional Banking ETF </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) up 2.2%<br />&#8211; Best performing stock: <strong>Flushing Financial Corp.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) up 5.3%. <br /></li>
<li><strong>Energy Select Sector SPDR Fund</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) up 1.5%<br />&#8211; Best performing stock: <strong>Devon Energy Corp.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) up 2.8%<br /></li>
<li><strong>iShares MSCI Emerging Markets ETF</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EEM#NYSE">EEM</a>) up 1.5%<br />&#8211; Best performing stock: <strong>Lufax Holding Ltd</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LU#NYSE">LU</a>) up 12%<br /></li>
<li><strong>iShares Russell 2000 ETF</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) up 1.4%<br />&#8211; Best performing stock: <strong>EOS Energy Enterprises Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EOSE#NASDAQ">EOSE</a>) up 24%</li>
</ol>
<p>Read now: <em><a href="https://www.benzinga.com/news/23/09/34172689/jeff-bezos-vs-elon-musk-space-contract-lawsuit-novo-nordisks-famed-drug-ozempic-could-be-next-conten">Jeff Bezos Vs. Elon Musk Space Contract Lawsuit, Novo Nordisk&#8217;s Famed Drug Ozempic Could Be Next Contender For Medicare Negotiations, Tesla Rival XPeng&#8217;s August Deliveries Zooms 43%: Today&#8217;s Top Stories</a></em></p>
<p><em>Photo: Shutterstock</em></p>


<p>U.S. stocks traded higher, with the Dow Jones gaining over 100 points on Wednesday. Here are some big stocks recording losses in today&rsquo;s session.</p>
<ul>
<li><strong>Foot Locker, Inc. </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fl#NYSE">FL</a>) shares tumbled 34.4% to $15.18 after the company reported a second-quarter revenue miss and an 11% rise in inventories. The company also lowered its gross margin guidance, citing more aggressive markdowns.</li>
<li><strong>Peloton Interactive, Inc.</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pton#NASDAQ">PTON</a>) fell 23.6% to $5.34 after the company reported mixed fourth-quarter results and a quarterly decline in Connected Fitness subscribers. The company also issued soft Q1 revenue guidance.</li>
<li><strong>Tivic Health Systems, Inc.</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tivc#NASDAQ">TIVC</a>) tumbled 23.1% to $3.02 after the company announced a 1-for-100 reverse stock split.</li>
<li><strong>AMC Entertainment Holdings, Inc. </strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>) declined 17.6% to $2.1001 ahead of a 10-to-1 reverse stock split scheduled to take effect Thursday. AMC Preferred Equity Units will be converted to AMC common stock the following day.</li>
<li><strong>The Growth for Good Acquisition Corporation</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gfgd#NASDAQ">GFGD</a>) fell 11.1% to $9.40.</li>
<li><strong>Definitive Healthcare Corp.</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dh#NASDAQ">DH</a>) dipped 9.7% to $9.18.</li>
<li><strong>Lancaster Colony Corporation</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lanc#NASDAQ">LANC</a>) fell 9.6% to $165.25 after the company reported worse-than-expected fourth-quarter results.</li>
<li><strong>Premier, Inc. </strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pinc#NASDAQ">PINC</a>) shares declined 8.1% to $22.09. Premier reported fourth-quarter 2023 revenue of $340.4 million, missing the consensus of $356.3 million.</li>
<li><strong>CompX International Inc.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cix#NYSE">CIX</a>) fell 7.6% to $23.21.</li>
<li><strong>iQIYI, Inc.</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iq#NASDAQ">IQ</a>) fell 7.3% to $4.5350. HSBC and Benchmark lowered their price targets on the stock.</li>
<li><strong>CVR Energy, Inc.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvi#NYSE">CVI</a>) declined 7.2% to $32.17. CARL ICAHN, 10% owner at CVR Energy, reported a large insider sell on Aug. 22, according to a new SEC filing.</li>
<li><strong>Agiliti, Inc.</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/agti#NASDAQ">AGTI</a>) fell 6.7% to $10.02. Agiliti recently announced a $50 million share repurchase plan over a 12-month period.</li>
<li><strong>NIKE, Inc.</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nke#NYSE">NKE</a>) fell 4% to $97.39 in sympathy with Foot Locker, which reported a second-quarter revenue miss and lowered its guidance.</li>
</ul>
<p>Read More: <a href="https://www.benzinga.com/markets/cryptocurrency/23/08/34005038/bitcoin-falls-below-26-000-following-pmi-data-maker-becomes-top-loser"><em> Bitcoin Falls Below $26,000 Following PMI Data; Maker Becomes Top Loser</em></a></p>


The latest update is out from Cvr Energy Inc. (CVI). CVR Energy, Inc. welcomed new board members Dustin DeMaria and Mark J. Smith on March 17, 2024...

CVR Energy Inc. Board Changes and New Member Appointments

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Billionaire investor Carl Icahn developed a reputation as a corporate raider in the 1980s but is better known today as a shareholder activist. He buys large stakes in undervalued companies to push for changes, often through gaining seats on boards of directors.</p>



<p>Most recently Icahn won seats on <strong>JetBlue Airways</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/jblu-stock-quote/"><strong>JBLU</strong></a></span>) board just days after disclosing a 10% stake in the airline. He was also using his access to <strong>Illumina</strong>&lsquo;s (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/ilmn-stock-quote/"><strong>ILMN</strong></a></span>) board through one of his portfolio managers to <a href="https://www.reuters.com/legal/litigation/column-carl-icahn-tries-again-use-secret-info-illumina-board-member-2024-01-24/">sue the biotech&rsquo;s directors</a> for breach of duty violations.</p>



<p><strong>Icahn Enterprises</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/iep-stock-quote/"><strong>IEP</strong></a></span>) is a master limited partnership (<span>MLP</span>) that has $16 billion in assets. It is really a <a href="https://www.ielp.com/static-files/b68a9ffb-6659-4221-9d4b-6525434cc1e9">diversified holding company</a> with its assets divided between investments, automotive, food packaging, real estate, home fashion and pharmaceuticals.</p>



<p>Virtually all of its assets and liabilities are owned by <strong>Icahn Enterprises Holdings</strong>, which conducts all of IEP&rsquo;s operations. Because it doesn&rsquo;t want to be classified as an investment company, no more than 40% of IEP&rsquo;s total assets can be invested in investment securities.</p>



<p>Icahn<a href="https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0000813762/000155837024002090/tmb-20231231x10k.htm#Item1Business_683799"> styles himself a value investor</a> in the vein of Benjamin Graham and David Dodd. He seeks out undervalued businesses with deeply discounted stocks. Where Graham &amp; Dodd bought shares and waited for a turnaround, Icahn is much more active in the companies he targets. He maintains the strategy has resulted in very strong returns for investors over the years.&nbsp;</p>



<p>These are the stocks Carl Icahn is betting on that comprise the MLP&rsquo;s largest positions, representing 82.8% of his portfolio.</p>



<h2>Icahn Enterprises (IEP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/05/iep-stock-1-300x169.jpg" alt="A magnifying glass zooms in on the website for Icahn Enterprises (IEP)."><div>Source: Casimiro PT / Shutterstock.com</div></div><p>The biggest ownership interest of all the assets held is in the MLP itself, Icahn Enterprise (NASDAQ: <span><a href="https://investorplace.com/stock-quotes/iep-stock-quote/"><strong>IEP</strong></a></span>). IEP stock represents 57.9% of the total portfolio value, worth some $6.3 billion. He owns some 367.9 million shares of the company or 86% of the total.</p>



<p>That would make Icahn the biggest loser of an investment in the MLP. Shares are flat year to date but down 65% over the past year and have lost almost 85% over the last decade. That seems to belie the claims Icahn&rsquo;s made about the strong returns. It&rsquo;s even invited short-sellers to rise up against him.</p>



<p>Last year Hindenburg Research came out with a scathing report about Icahn Enterprises, alleging Icahn vastly <a href="https://investorplace.com/2023/05/icahn-enterprises-iep-stock-gains-20-following-dividend-announcement/">overvalues its holdings</a>. The report also charges IEP relies upon a &ldquo;Ponzi-like&rdquo; structure to pay dividends, of which Icahn receives the lion&rsquo;s share. IEP stock plunged 20% on the news and has yet to recover.</p>



<p>It&rsquo;s certainly a reversal of roles for the billionaire investor who is often the one issuing scathing attacks on management. However the record would suggest IEP stock is not one to buy for most investors.</p>



<h2>CVR Energy (CVI) </h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/cvr-energy-cvi-1600-300x169.jpg" alt="The logo for CVR Energy (CVI) is shown on a cellphone next to a screen displaying the company's website."><div>Source: T. Schneider / Shutterstock.com</div></div><p>Icahn Enterprises energy sector consists of <strong>CVR Energy </strong>(NYSE:<span><a href="https://investorplace.com/stock-quotes/cvi-stock-quote/"><strong>CVI</strong></a></span>), which Icahn acquired a substantial interest in back in 2012. The company is a diversified energy operation with revenue generated from a mix of renewable fuels, petroleum refining and nitrogen-fertilizer production. The refining is conducted through <strong>CVR Refining</strong> with facilities strategically located near Cushing, OK. The fertilizer manufacturing is through <strong>CVR Partners</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/uan-stock-quote/"><strong>UAN</strong></a></span>) with facilities in the southern plains and Corn Belt.</p>



<p>CVR is a much better investment than IEP stock. Shares are up 18% in 2024 and 36% over over the last 12 months, though down 12% over the last decade. Last year its regular dividend totaled $2.00 per share and currently yields 5.6% but it also issued <a href="https://investors.cvrenergy.com/news-releases/news-release-details/cvr-energy-reports-third-quarter-2023-results-announces-cash#:~:text=News%20Release%20Details-,CVR%20Energy%20Reports%20Third%20Quarter%202023%20Results%2C%20Announces%20a%20Cash,a%20Special%20Dividend%20of%20%241.50">two special dividends</a> of $1 and $1.50 per share in July and October, respectively, for a total of $4.50 per share. They were issued due to &ldquo;solid operating results&rdquo; but CVR&rsquo;s regular dividends have fluctuated over time.</p>



<p>Icahn owns 66.7 million shares valued at $2 billion for an 18.5% stake in CVI stock.</p>



<h2>Southwest Gas (SWX)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/03/swx1600-300x169.png" alt="Southwest Gas Holdings (SWX) logo on the website homepage."><div>Source: Casimiro PT / Shutterstock.com</div></div><p><strong>Southwest Gas</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/swx-stock-quote/"><strong>SWX</strong></a></span>) is Icahn&rsquo;s third largest holding. It is the middle-man in the natural gas industry, purchasing, distributing and transporting natural gas across North America. A second component of its operations is as an infrastructure services company that partners with regulated utilities to build and maintain the energy network in the U.S. and Canada.</p>



<p>Curiously, it is held it the investment portion of Icahn&rsquo;s portfolio rather than in the energy segment. The stock is still performing well, up 12% this year and 18% over the past year. It&rsquo;s gained more than 33% over the last 10 years, too, though that&rsquo;s well below the returns of the <strong>S&amp;P 500</strong>.</p>



<p>Icahn owns 11.2 million shares of SWX stock, valued at $698 million. While that represents 6.4% of Icahn Enterprises&rsquo; portfolio, it is a 15.2% ownership stake in the natural gas company. IEP&rsquo;s president and CEO Andrew Teno has been a director on Southwest&rsquo;s board since 2022. If you want to invest like Carl Icahn, start here. </p>



<p><em>On the date of publication, Rich Duprey did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.</em></p>
<div><p>Rich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L&rsquo;Express, and numerous other news outlets.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/03/icahns-all-in-3-stocks-billionaire-carl-icahn-is-betting-big-on/">Icahn&#8217;s All-In: 3 Stocks Billionaire Carl Icahn Is Betting Big On</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

Icahn's All-In: 3 Stocks Billionaire Carl Icahn Is Betting Big On

CVR Energy, Icahn disclose potential strategic options for CVR Partners

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Billionaire investor Carl Icahn developed a reputation as a corporate raider in the 1980s but is better known today as a shareholder activist. He buys large stakes in undervalued companies to push for changes, often through gaining seats on boards of directors.</p>



<p>Most recently Icahn won seats on <strong>JetBlue Airways</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/jblu-stock-quote/"><strong>JBLU</strong></a></span>) board just days after disclosing a 10% stake in the airline. He was also using his access to <strong>Illumina</strong>&lsquo;s (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/ilmn-stock-quote/"><strong>ILMN</strong></a></span>) board through one of his portfolio managers to <a href="https://www.reuters.com/legal/litigation/column-carl-icahn-tries-again-use-secret-info-illumina-board-member-2024-01-24/">sue the biotech&rsquo;s directors</a> for breach of duty violations.</p>



<p><strong>Icahn Enterprises</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/iep-stock-quote/"><strong>IEP</strong></a></span>) is a master limited partnership (<span>MLP</span>) that has $16 billion in assets. It is really a <a href="https://www.ielp.com/static-files/b68a9ffb-6659-4221-9d4b-6525434cc1e9">diversified holding company</a> with its assets divided between investments, automotive, food packaging, real estate, home fashion and pharmaceuticals.</p>



<p>Virtually all of its assets and liabilities are owned by <strong>Icahn Enterprises Holdings</strong>, which conducts all of IEP&rsquo;s operations. Because it doesn&rsquo;t want to be classified as an investment company, no more than 40% of IEP&rsquo;s total assets can be invested in investment securities.</p>



<p>Icahn<a href="https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0000813762/000155837024002090/tmb-20231231x10k.htm#Item1Business_683799"> styles himself a value investor</a> in the vein of Benjamin Graham and David Dodd. He seeks out undervalued businesses with deeply discounted stocks. Where Graham &amp; Dodd bought shares and waited for a turnaround, Icahn is much more active in the companies he targets. He maintains the strategy has resulted in very strong returns for investors over the years.&nbsp;</p>



<p>These are the stocks Carl Icahn is betting on that comprise the MLP&rsquo;s largest positions, representing 82.8% of his portfolio.</p>



<h2>Icahn Enterprises (IEP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/05/iep-stock-1-300x169.jpg" alt="A magnifying glass zooms in on the website for Icahn Enterprises (IEP)."><div>Source: Casimiro PT / Shutterstock.com</div></div><p>The biggest ownership interest of all the assets held is in the MLP itself, Icahn Enterprise (NASDAQ: <span><a href="https://investorplace.com/stock-quotes/iep-stock-quote/"><strong>IEP</strong></a></span>). IEP stock represents 57.9% of the total portfolio value, worth some $6.3 billion. He owns some 367.9 million shares of the company or 86% of the total.</p>



<p>That would make Icahn the biggest loser of an investment in the MLP. Shares are flat year to date but down 65% over the past year and have lost almost 85% over the last decade. That seems to belie the claims Icahn&rsquo;s made about the strong returns. It&rsquo;s even invited short-sellers to rise up against him.</p>



<p>Last year Hindenburg Research came out with a scathing report about Icahn Enterprises, alleging Icahn vastly <a href="https://investorplace.com/2023/05/icahn-enterprises-iep-stock-gains-20-following-dividend-announcement/">overvalues its holdings</a>. The report also charges IEP relies upon a &ldquo;Ponzi-like&rdquo; structure to pay dividends, of which Icahn receives the lion&rsquo;s share. IEP stock plunged 20% on the news and has yet to recover.</p>



<p>It&rsquo;s certainly a reversal of roles for the billionaire investor who is often the one issuing scathing attacks on management. However the record would suggest IEP stock is not one to buy for most investors.</p>



<h2>CVR Energy (CVI) </h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/cvr-energy-cvi-1600-300x169.jpg" alt="The logo for CVR Energy (CVI) is shown on a cellphone next to a screen displaying the company's website."><div>Source: T. Schneider / Shutterstock.com</div></div><p>Icahn Enterprises energy sector consists of <strong>CVR Energy </strong>(NYSE:<span><a href="https://investorplace.com/stock-quotes/cvi-stock-quote/"><strong>CVI</strong></a></span>), which Icahn acquired a substantial interest in back in 2012. The company is a diversified energy operation with revenue generated from a mix of renewable fuels, petroleum refining and nitrogen-fertilizer production. The refining is conducted through <strong>CVR Refining</strong> with facilities strategically located near Cushing, OK. The fertilizer manufacturing is through <strong>CVR Partners</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/uan-stock-quote/"><strong>UAN</strong></a></span>) with facilities in the southern plains and Corn Belt.</p>



<p>CVR is a much better investment than IEP stock. Shares are up 18% in 2024 and 36% over over the last 12 months, though down 12% over the last decade. Last year its regular dividend totaled $2.00 per share and currently yields 5.6% but it also issued <a href="https://investors.cvrenergy.com/news-releases/news-release-details/cvr-energy-reports-third-quarter-2023-results-announces-cash#:~:text=News%20Release%20Details-,CVR%20Energy%20Reports%20Third%20Quarter%202023%20Results%2C%20Announces%20a%20Cash,a%20Special%20Dividend%20of%20%241.50">two special dividends</a> of $1 and $1.50 per share in July and October, respectively, for a total of $4.50 per share. They were issued due to &ldquo;solid operating results&rdquo; but CVR&rsquo;s regular dividends have fluctuated over time.</p>



<p>Icahn owns 66.7 million shares valued at $2 billion for an 18.5% stake in CVI stock.</p>



<h2>Southwest Gas (SWX)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/03/swx1600-300x169.png" alt="Southwest Gas Holdings (SWX) logo on the website homepage."><div>Source: Casimiro PT / Shutterstock.com</div></div><p><strong>Southwest Gas</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/swx-stock-quote/"><strong>SWX</strong></a></span>) is Icahn&rsquo;s third largest holding. It is the middle-man in the natural gas industry, purchasing, distributing and transporting natural gas across North America. A second component of its operations is as an infrastructure services company that partners with regulated utilities to build and maintain the energy network in the U.S. and Canada.</p>



<p>Curiously, it is held it the investment portion of Icahn&rsquo;s portfolio rather than in the energy segment. The stock is still performing well, up 12% this year and 18% over the past year. It&rsquo;s gained more than 33% over the last 10 years, too, though that&rsquo;s well below the returns of the <strong>S&amp;P 500</strong>.</p>



<p>Icahn owns 11.2 million shares of SWX stock, valued at $698 million. While that represents 6.4% of Icahn Enterprises&rsquo; portfolio, it is a 15.2% ownership stake in the natural gas company. IEP&rsquo;s president and CEO Andrew Teno has been a director on Southwest&rsquo;s board since 2022. If you want to invest like Carl Icahn, start here. </p>



<p><em>On the date of publication, Rich Duprey did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.</em></p>
<div><p>Rich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L&rsquo;Express, and numerous other news outlets.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/03/icahns-all-in-3-stocks-billionaire-carl-icahn-is-betting-big-on/">Icahn&#8217;s All-In: 3 Stocks Billionaire Carl Icahn Is Betting Big On</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

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