Finance

Carl Icahn’s company stock drops 30% after IEP slashes quarterly dividend in half

Carl Icahn at the 6th annual CNBC Institutional Investor Delivering Alpha Conference on September 13, 2016. Heidi Gutman | CNBC Shares of Carl Icahn’s conglomerate Icahn Enterprises experienced a sharp sell-off Friday after the firm slashed quarterly dividend in half amid notable short seller Hindenburg Research’s campaign. IEP announced Friday it issued a $1 per depositary unit…

Finance

Stocks making the biggest moves after hours: PayPal, Robinhood, Qualcomm, Clorox, DoorDash and more

Robinhood CEO and co-founder Vlad Tenev and co-founder Baiju Bhatt pose with Robinhood signage on Wall Street after the company’s initial public offering in New York City, July 29, 2021. Andrew Kelly | Reuters Check out the companies making headlines in extended trading. Robinhood — Shares of the trading platform slipped 4.7% after it reported…

Finance

AMD drops despite topping estimates in latest quarter. Here’s what the pros are saying

Market Movers rounded up the best reactions from investors and analysts on Advanced Micro Devices . The pros considered the Santa Clara, California-based chipmaker after its second-quarter results Tuesday beat estimates on both the top and bottom lines. Despite the results, AMD closed the day 7% lower after third-quarter guidance missed Street estimates amid a…

Finance

JPMorgan CEO Jamie Dimon calls Fitch Ratings U.S. downgrade ‘ridiculous,’ but says ‘doesn’t really matter’

The Fitch Ratings downgrade of the United States’ long-term credit rating ultimately doesn’t matter, JPMorgan Chase CEO Jamie Dimon told CNBC on Wednesday. “It doesn’t really matter that much” because it is the market, and not rating agencies, that determine borrowing costs, Dimon told CNBC’s Leslie Picker. Still, it is “ridiculous” that countries including Canada…