Icahn Enterprises LP

Stock index futures were mixed on Friday as traders awaited Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole Symposium, with several individual stocks moving on regulatory and corporate news. JetBlue Airways rose 0.82% in premarket trade after activist investor Carl Icahn lowered his stake below the level required to maintain board representation, prompting Icahn Enterprises representatives Jesse Lynn and Steven Miller to step away from the board, leaving it with 11 members, 10 of whom are independent. Gilead Sciences gained 0.64% after the U.S. Food and Drug Administration approved its once-daily oral antiviral Bixlenvo as the smallest single-tablet regimen for treating HIV in adults, combining its once-daily HIV pill bictegravir with its twice-yearly pre-exposure prophylaxis option lenacapavir. Eli Lilly rose 0.76% after the FDA approved a label expansion for its blockbuster GLP-1 drug Mounjaro to lower the risk of major adverse cardiovascular events, including stroke, in adults with type 2 diabetes. Moderna fell 1.93% after pricing $2.6 billion of 0.00% convertible senior notes due 2032 in a private placement, upsized from the previously announced $2 billion, with an option for initial purchasers to buy up to an additional $400 million of the notes.

The 14 general industrial machinery stocks tracked by StockStory reported a strong first quarter, with aggregate revenues beating analysts' consensus estimates by 3.3% and next-quarter revenue guidance coming in 1.6% above expectations. Honeywell posted revenues of $9.14 billion, up 2.4% year on year but missing estimates by 1.4%, and delivered the weakest full-year guidance update of the group. Albany International was the best performer, with revenues of $311.3 million beating estimates by 10.8%, while Icahn Enterprises had the weakest quarter, missing analysts' adjusted operating income and EPS estimates significantly. L.B. Foster delivered the biggest analyst estimate beat among its peers, with revenues of $121.1 million surpassing expectations by 16.2%. Share prices of the group have been resilient, up 9.9% on average since the latest earnings results.