Why Is Icahn Enterprises Stock Falling On Wednesday?
1. IEP reported a $0.19 earnings loss, missing profit expectations. 2. Quarterly sales of $2.558 billion exceeded estimates but fell 5.1% year over year. 3. Adjusted EBITDA improved to $12 million from $9 million last year. 4. Net asset value declined by $223 million, mainly due to losses in CVR Energy. 5. IEP shares fell 2.63% to $9.99 post-announcement.