High rollers: Eldorado buys Caesars in deal valued at $17B
A casino juggernaut was formed Monday when Eldorado Resorts announced it is buying Caesars in a cash-and-stock deal valued at $17.3 billion.
The acquisition will put about 60 casino-resorts...
Caesars names gambling-industry veteran as new CEO
LAS VEGAS (AP) — Caesars Entertainment is appointing a gambling-industry veteran as its new chief executive.
The casino giant named Tony Rodio as CEO Tuesday. He'll replace Mark Frissora,...
LAS VEGAS (AP) — Activist investor Carl Icahn has upped his stake in casino giant Caesars Entertainment.
The billionaire, who is seeking fundamental changes in the Las Vegas-based company,...
Target and Papa John’s rise while Hertz stumbles
NEW YORK (AP) — Stocks that moved substantially or traded heavily on Tuesday:
Target Corp., up $3.33 to $76
Strong online sales and customer traffic growth pushed Target beyond most...
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks ended an up-and-down day mostly down on Wall Street as losses by industrial and...
Icahn directors to take place of 3 on Caesars’ board
LAS VEGAS (AP) — Caesars will replace three members to its board with directors chosen by billionaire Carl Icahn, who is seeking fundamental changes at the casino and resort.
Spark and GE rise while Barrick Gold slides
NEW YORK (AP) — Stocks that moved substantially or traded heavily on Monday:
Spark Therapeutics Inc., up $61.92 to $113.48
The gene therapy developer is being bought by Roche Holding...
Caesars offers few clues on state of talks with Carl Icahn
LAS VEGAS (AP) — Caesars Entertainment Corp. gave few clues Thursday as to the status of its talks with billionaire Carl Icahn, who has taken a large stake in the casino giant and says he wants...
Caesars Entertainment talks with billionaire investor Icahn
LAS VEGAS (AP) — Caesars Entertainment said Wednesday that it has talked with billionaire investor Carl Icahn, who began pushing for fundamental changes this week after revealing a 10 percent...
Billionaire Icahn wants Caesars Entertainment to sell itself
LAS VEGAS (AP) — Billionaire investor Carl Icahn on Tuesday disclosed he has taken a 10 percent stake in Caesars Entertainment and is pushing the casino giant to sell itself.
Conagra and Twitter drop while Tilray, Newmont Mining climb
NEW YORK (AP) — Stocks that moved substantially or traded heavily Thursday:
Walgreens Boots Alliance Inc., down $3.68 to $69.61
The drugstore chain reported lower sales than analysts expected.
Tilray Inc., up $7.30 to $78.30
The Canadian marijuana grower said it will develop marijuana-infused drinks in a partnership with Labatt Breweries.
Conagra Brands Inc., down $4.81 to $24.28
The maker of Chef Boyardee and other food brands reported disappointing sales in its latest quarter.
Atlantic City’s Tropicana casino bought in $1.9B acquisition
ATLANTIC CITY, N.J. (AP) — Eldorado Resorts has completed its purchase of Atlantic City's Tropicana casino.
The Press of Atlantic City reports the deal that finished Monday comes after the New Jersey Casino Control Commission granted the Reno, Nevada-based company interim authority to own the casino.
Eldorado gets temporary OK to own Tropicana casino
ATLANTIC CITY, N.J. (AP) — Eldorado Resorts was given temporary approval to own Atlantic City's Tropicana casino, expressing optimism about a growing market rather than nervousness over increasing competition.
The Reno, Nevada-based company is taking over the Atlantic City as part of a $1.85 billion acquisition of Tropicana Entertainment.
Tapestry, Advance Auto Parts and Wolverine rise
NEW YORK (AP) — Stocks that moved substantially or added heavily on Tuesday:
Tapestry Inc., up $5.70 to $53.16
The shoe and handbag maker had a stronger fourth quarter than analysts expected.
Advance Auto Parts Inc., up $11.29 to $156.13
The auto parts retailer's quarterly results came out ahead of Wall Street estimates.
SJW Group Inc., up $4.35 to $66.75
California Water Service raised its offer to buy the utility company.
Icahn ends Cigna-Express Scripts campaign, shares bounce
Shares of Express Scripts are moving higher before the opening bell after activist investor Carl Icahn ended a short-lived fight to scuttle Cigna's takeover of the pharmacy benefit manager.
Icahn said late Monday that he'll end his campaign to convince Cigna shareholders to vote against the roughly $52-billion deal this month. He noted that two prominent shareholder advisory firms support it and that there is significant stockholder overlap between the companies.
Key shareholder adviser backs Cigna-Express Scripts deal
Cigna's plan to buy pharmacy benefit manager Express Scripts for around $52 billion has received a big endorsement a few days after activist investor Carl Icahn urged shareholders to reject it.
The proxy advisory firm Institutional Shareholder Services said Friday that stock owners should vote for the deal later this month, calling it financially compelling.
Large institutional shareholders rely on ISS and similar firms to help them decide how to vote on certain company proposals.
Icahn warns Cigna investors on Express Scripts deal
Carl Icahn is urging Cigna shareholders to reject the health insurer's attempted multi-billion dollar takeover of Express Scripts, saying it's paying too much for a company with a shaky future.
The billionaire and activist investor warned that Express Scripts, a pharmacy benefit manager, could face substantial regulatory risks and intense competition from Amazon. Cigna said in March that it would pay $52 billion for Express Scripts, a deal on which shareholders will vote Aug. 24.
OKLAHOMA CITY (AP) — Candidates supported by billionaire investor Carl Icahn have won control of the board of directors of Oklahoma City-based SandRidge Energy, Inc.
The company said in a news release after Tuesday's voting by shareholders that Icahn-supported candidates won four of the seven seats, two incumbent members won re-election, and one vote was too close to call.
NEW YORK (AP) — Stocks that moved substantially or traded heavily Thursday:
J.M. Smucker Co., down $5.72 to $100.80
The packaged food company had a weak fourth quarter and gave disappointing forecasts for the current year.
Allergan PLC, up $7.89 to $163.27
Bloomberg News reported that Carl Icahn bought stock in the company, which is facing criticism from other investors.
NEW YORK (AP) — Stocks that moved substantially or traded heavily Monday:
Viacom Inc., down $1.48 to $28.74
CBS filed a lawsuit against controlling shareholder National Amusements, a move that could block a combination of CBS and Viacom.
Acacia Communications Inc., up $2.75 to $34.25
President Donald Trump tweeted that the U.S. might ease sanctions on Chinese company ZTE, a major customer for Acacia.
Xerox ends agreement with Japan’s Fujifilms
NEW YORK (AP) — Copier company Xerox Corp. said Sunday it was ending an agreement to combine with Japan's Fujifilm Holdings and is entering a settlement deal with investors Carl Icahn and Darwin Deason. Fujifilm opposed the move.
Newell, Starboard make peace, name new directors
NEW YORK (AP) — Newell Brands is avoiding a prolonged proxy battle by agreeing with activist investor Starboard Value on two new independent directors.
The Sharpie maker's agreement with Starboard comes with an assist from another activist investor, billionaire Carl Icahn, who will give up two of his four seats on the board.
The new independent directors named Monday are Gerardo Lopez and Robert Steele. Newell also will nominate Bridget Ryan Berman, a pick agreed upon by Starboard and Icahn.
Tropicana Laughlin now part of Eldorado Resorts, Inc.
LAUGHLIN — Tropicana Entertainment Inc. has entered into an agreement to sell its U.S. real estate to Gaming and Leisure Properties, Inc., and to merge its gaming and hotel operations into Eldorado Resorts, Inc.
The sale, which includes the Tropicana Laughlin, is worth approximately $1.85 billion according to Tropicana Entertainment Inc. The deal does not include Tropicana’s Aruba assets but does include properties in Nevada, Indiana, Mississippi, Missouri, Louisiana and New Jersey.
Icahn’s company strikes approximately $1.85B Tropicana deal
ATLANTIC CITY, N.J. (AP) — Carl Icahn's company struck an approximately $1.85 billion deal Monday that would fuse the gambling and hotel operations of Tropicana Entertainment to Eldorado Resorts Inc.
The agreement includes the sale of Tropicana Entertainment Inc.'s real estate to Gaming and Leisure Properties Inc. It doesn't include Tropicana's Aruba assets, which will be disposed of as a condition to closing.
Tenneco buys Icahn’s Federal-Mogul in deal worth $5.4B
NEW YORK (AP) — The debt heavy auto parts company Federal-Mogul, owned by Carl Icahn's company, is being sold in a deal worth about $5.4 billion.
Icahn Enterprises will get $800 million in cash and 29.5 million shares from buyer Tenneco. The Lake Forest, Illinois, auto parts maker said Tuesday that it will split the company into two parts, both to be traded publicly.
Icahn Enterprises bought a majority stake in Federal Mogul in 2008 and took full ownership of the company last year.
Fight for control of Newell draws in Icahn
NEW YORK (AP) — Billionaire investor Carl Icahn is jumping in to the fight for control over Newell Brands, buying a minority stake in the consumer products company that has been targeted by activist investor Starboard Value LP.
Newell said Monday that it's struck a deal in which Icahn will nominate four people to its board, including his son, Brett Icahn.
Shares of Newell Brands Inc., based in Hoboken, New Jersey, jumped more than 4 percent before the opening bell Monday.
- Business WireAn Investigation of Carl Icahn, Icahn Related Representatives and Cheniere Energy, Inc. for Possible Insider Trading and Violations of Federal Securities Laws Has Been AnnouncedAugust 15, 2019
- Business WireFederman & Sherwood Announces Investigation of Cheniere Energy, Inc., Carl Icahn and Icahn Related Representatives for Possible Violations of Federal Securities LawsAugust 15, 2019
- Business WireOccidental Mails Letter to ShareholdersJuly 22, 2019
- Globe NewswireIcahn Enterprises L.P. Reports Fourth Quarter and Full Year 2018 Financial ResultsFebruary 28, 2019
- BusinessWireXerox Terminates Transaction Agreement with Fujifilm and Enters into New Agreement with Carl Icahn and Darwin DeasonMay 13, 2018
NEW YORK (AP) — Billionaire investor Carl Icahn denied having prior knowledge of President Donald Trump's plans to impose tariffs on imported steel and aluminum before he sold about $31 million of stock in steel-dependent Manitowoc Co.
Bioverativ, Juno and Halliburton rise; Sanmina-SCI tumbles
NEW YORK (AP) — Stocks that moved substantially or traded heavily Monday:
Halliburton Co., up $3.39 to $56.40
The oil and gas drilling services company reported a larger quarterly profit and more revenue than Wall Street expected.
Bioverativ Inc., up $39.68 to $103.79
The hemophilia drug maker agreed to be bought by Sanofi for $105 a share, or $11.6 billion.
Juno Therapeutics Inc., up $18.19 to $86
The cancer treatment company accepted an offer from Celgene worth $87 a share, or about $9 billion.
Carl Icahn makes push to remove Xerox CEO
NEW YORK (AP) — Billionaire investor Carl Icahn is calling for the removal of Xerox CEO Jeffrey Jacobson as the copier company reportedly seeks a deal with camera company Fujifilm.
The Wall Street Journal reported last week that the two companies are in talks for a potential deal. Icahn, along with shareholder Darwin Deason, said Monday they don't trust Jacobson to lead the potential negotiations.
Goldman Sachs and Hess slide while PepsiCo and TiVo rise
NEW YORK (AP) — Stocks that moved substantially or traded heavily Friday:
Adtran Inc., down $2.90 to $19.35
The networking equipment maker gave weak revenue forecasts because a major customer is spending less.
Bonanza Creek Energy Inc., down $2.06 to $27.59
SandRidge Energy won't buy Bonanza Creek after opposition from shareholders including Carl Icahn.
Lawmaker: Stop payment to Icahn to raze former Trump casino
ATLANTIC CITY, N.J. (AP) — New Jersey's Senate president wants a state redevelopment agency to reject a $5.6 million payment to help billionaire investor Carl Icahn tear down an Atlantic City casino that President Donald Trump built in the 1980s.
State gives initial OK for $5.6M to help Icahn raze casino
ATLANTIC CITY, N.J. (AP) — A New Jersey redevelopment agency has given preliminary approval to a $5.6 million payment to billionaire investor Carl Icahn to help pay for the demolition of part of Atlantic City's former Trump Plaza casino.
The Casino Reinvestment Development Authority on Tuesday determined that a request by Icahn to use funds from state-mandated casino investment alternative taxes toward the $13.2 million demolition cost would qualify for assistance, pending a final determination.
Prosecutors scrutinize investor who served as Trump adviser
Federal prosecutors want to know more about efforts billionaire investor Carl Icahn may have made while he was an adviser to President Donald Trump to change the renewable fuel credits system that was costing one of his companies millions of dollars.
Icahn's company said in a filing with the Securities and Exchange Commission last week that it had received a subpoena for records related to the federal Renewable Fuels Standard and Icahn's role with the White House.
Iconic domes, spires removed from ex-Trump Taj Mahal casino
ATLANTIC CITY, N.J. (AP) — Donald Trump's name was stripped from the facade weeks after he became president. Now his Indian-inspired architectural flourishes are coming down, too, from one of the Atlantic City casinos he used to own.
Work crews are dismantling the domes, minarets and other exterior decorations from the former Trump Taj Mahal casino. It is being converted into a new Hard Rock casino resort due to open next summer.
Uber’s Kalanick names 2 new directors to company board
NEW YORK (AP) — Ousted Uber CEO Travis Kalanick is naming two new directors to the ride-hailing app company's board as part of an ongoing struggle with one of Uber's major investors.
EPA head: No renewable fuel promise made to ex-Trump adviser
DETROIT (AP) — Environmental Protection Agency chief Scott Pruitt has told a group of senators he never made any promises to billionaire investor Carl Icahn about renewable fuel credits that were costing one of Icahn's companies millions of dollars.
Hard Rock Cafe moving off AC Boardwalk, into re-done casino
ATLANTIC CITY, N.J. (AP) — The Hard Rock Cafe on the Atlantic City Boardwalk will shut down and be relocated into the former Trump Taj Mahal casino when Hard Rock reopens it under its own brand next summer.
The global casino and hospitality company says the Atlantic City Hard Rock Cafe will cease operations on Sept. 30.
Construction will then begin on a new cafe inside the former Taj Mahal.
Trump adviser resigned ahead of negative magazine story
WASHINGTON (AP) — Billionaire investor Carl Icahn, who resigned Friday from an unpaid post as President Donald Trump's adviser on deregulation efforts, stepped down as The New Yorker was preparing to publish a lengthy article detailing Icahn's potential conflicts of interest and questioning the legality of his actions.
Icahn said in a letter to Trump released Friday that he would resign to prevent "partisan bickering" about his role that Democrats suggested could benefit him financially.
WASHINGTON — President Trump has lost another informal adviser from the business world: billionaire investor Carl Icahn, who gave the White House guidance on its deregulation efforts.
Icahn steps down as unofficial Trump adviser
WASHINGTON (AP) — President Donald Trump has lost another informal adviser from the business world: billionaire investor Carl Icahn, who gave the White House guidance on its deregulation efforts.
APNewsBreak: Tropicana gets Chelsea to be part of casino
ATLANTIC CITY, N.J. (AP) — Atlantic City's Tropicana casino is expanding by acquiring a nearby hotel and incorporating it into the resort.
Tropicana Entertainment told The Associated Press on Thursday that it acquired The Chelsea, a 330-room boutique hotel, from billionaire investor Carl Icahn.
ATLANTIC CITY, N.J. (AP) — Fans of the Trump Taj Mahal Casino Resort can take home a piece of the former casino before it's gutted to make way for the Hard Rock Hotel and Casino.
Furniture, poker tables, grand pianos, art and even its famous chandeliers will be among the merchandise up for grabs at a liquidation sale that starts at 10 a.m. Thursday.
National Content Liquidators says the sale will continue until everything's gone.
The activist hedge fund Venetus Partners reportedly is shutting down, after commencing investments only last fall under Chad Fauser and Nick Graziano.
Venetus focused on investments in mid-size companies and pressing them to adopt changes with an eye on improving their financial performance and share value.
According to Reuters, Graziano told investors the closure is the result of personal matters and not the hedge fund’s performance. Venetus listed offices at 55 Railroad Ave. in Greenwich.
APNewsBreak: Sneak peek at Hard Rock plans for Taj Mahal
ATLANTIC CITY, N.J. (AP) — Poolside and restaurant gambling, skill-based slots, fantasy sports betting and hidden VIP gambling rooms are among Hard Rock International's initial plans for their remake of the former Trump Taj Mahal casino.
Hard Rock charts different path for Trump’s former casino
ATLANTIC CITY, N.J. (AP) — Jim Allen once worked for Donald Trump in Atlantic City. Now, the chairman of Hard Rock International is doing all he can to scrub the influence of the man who is now president of the United States from his signature casino.
WASHINGTON (AP) — Eight U.S. senators have requested an investigation into whether a billionaire investor and adviser to President Donald Trump violated insider trading rules with bets made in the renewable fuel credit market.
LAS VEGAS (AP) — Clark County officials say they are investing money to revamp a portion of an unfinished resort on the Strip.
KSNV reports (http://bit.ly/2psLhjE ) Clark County committed to covering up the barren bottom section of the Fontainebleau building facing the Strip last week. The wrap that will cover the unfinished part of the building will be blue, white and grey.
ATLANTIC CITY, N.J. (AP) — Atlantic City could be forced to again refund millions of dollars in property taxes to another casino owner.
The Press of Atlantic City reports (http://bit.ly/2q40XMX ) investor Carl Icahn's companies have filed another round of tax appeals on the assessments of the former Trump Plaza and Trump Taj Mahal casinos for 2017. Icahn also has appealed the Tropicana Atlantic City's assessment.