Icahn Enterprises Loss Widens As Sales Fall Short

Icahn Enterprises LP said Monday it had a net loss of $1.1 billion, or 8.56 per depositary unit, in the fourth quarter, wider than the loss of $478 million, or $3.84 per depositary unit, in the year-earlier period. Revenue fell to $2.6 billion from $3.4 billion. The FactSet consensus was for a loss of 90 cents and revenue of $3.658 billion. Billionaire investor Carl Icahn's investing arm earlier offered to buy the shares of Federal-Mogul it does not already own for $7 a share in cash. Shares were down 1.1% in premarket trade, and have lost 41% in the last 12 months, while the S&P 500 is down 7%.