Updated from 6:10 a.m. with complete write-through regarding company's announcement.
NEW YORK (TheStreet) -- Carl Icahn is not a happy man this morning as one of his major energy holdings surprised investors by announcing major charges and delaying its earnings announcement.
Shares of Transocean (RIG) , the world's largest offshore driller by annual revenue, are taking a beating Friday, falling more than 3% in early trading after the company said it will take a $2.76 billion charge related to impairment of goodwill.
Included in that amount is a $788 million charge related to its Deepwater Rig asset group, resulting from both deteriorating market outlook and weak dayrate utilization of its fleet of rigs.
The recent decline of valuations in contract drilling companies prompted the impairment testing. Transocean's goodwill balance as of June 30 of this year was around $3 billion. Because of these issues, Transocean says it will postpone reporting its financial results for the third-quarter -- spooking investors even more. At one point, shares were off more than 8% during premarket action Thursday following the announcement.
Icahn, Transocean's third largest shareholder, reported his investment firm lost money for the third quarter, most of it in energy plays including Transocean and Chesapeake Energy CHK. Icahn's investment fund lost a total of 5.3% for the quarter, although it remained up 4.4% for the first nine months of the year. Most of that loss is directly attributable to the drop in oil prices, which have shed over 20% from their highs in June. The Energy Select Sector ETF (XLE) is down 7.39% over the past six months.