Icahn Enterprises L.P., the investing arm of billionaire activist investor Carl Icahn, said Wednesday it swung to a loss in the first quarter from a profit a year ago, sending its stock down more than 7% premarket.
The Sunny Isles Beach, Fla.-based company, which was the target of a short selling report in early May that alleged it has overstated the value of assets, posted a net loss of $270 million, or 75 cents per depositary unit, in the first quarter, after income of $323 million, or $1.06 a unit, in the year-earlier period....