All articles tagged with #dupont
Qnity Electronics completed its spinoff from DuPont, becoming an independent company specializing in semiconductor materials and chip manufacturing technology, and immediately joining the S&P 500 with a positive market response and a buy rating from analysts.
Qnity Electronics, a spin-off from DuPont focused on AI, has begun trading on the New York Stock Exchange, marking its entry into the public market.
A historic $2 billion settlement has been reached to fund the cleanup of PFAS contamination at four former DuPont sites in New Jersey, addressing decades of chemical pollution and its health impacts, with funds allocated for remediation, water treatment, and ongoing environmental monitoring.
New Jersey has announced a settlement of up to $2 billion or more with DuPont and other companies over decades of PFAS contamination at four sites, marking the largest environmental settlement in the state's history, aimed at funding cleanup and addressing health impacts from 'forever chemicals.'
U.S. stocks edged higher premarket as Palantir's stock surged 14% following an optimistic revenue forecast and strong Q3 results. DuPont's stock rose 2% after raising its profit forecast, while Trump Media's stock increased over 11% amid investor confidence in Trump's political prospects. Conversely, Restaurant Brands and Yum! Brands saw declines due to weak demand, and Marqeta's stock plummeted 38% after issuing weak guidance.
DuPont has announced plans to split into three standalone businesses, a process expected to take 18 to 24 months. The remaining firm, 'New DuPont,' will retain well-known brands like Tyvek®, Kevlar®, and Nomex®. Governor John Carney supports the move, emphasizing its potential for growth and flexibility. Ed Breen, stepping down as CEO, will be succeeded by CFO Lori Koch but will remain as Executive Chairman.
DuPont de Nemours Inc. plans to split into three separate publicly traded companies, focusing on electronics, water, and biopharma/medical devices, in a move expected to be completed within two years. This strategy, led by CEO Ed Breen, aims to boost shareholder value by creating more focused businesses, following a trend among industrial conglomerates like Johnson & Johnson and General Electric.
DuPont de Nemours, a 220-year-old American multinational chemical company, announced plans to split into three publicly traded companies, focusing on electronics, water solutions, and remaining divisions. The breakup, expected to be completed within 18 to 24 months, aims to provide greater flexibility and value for shareholders. Lori Koch will become CEO, while current CEO Ed Breen will stay on as executive chairman. This move follows a trend of large companies breaking up to enhance agility.
Snowflake's stock rose in after-hours trading following strong first-quarter earnings and an increased full-year revenue forecast, while e.l.f. Beauty's stock fell due to lower-than-expected projections for its 2025 fiscal year despite beating fourth-quarter estimates. Dupont shares surged after announcing it will split into three separate companies.
DuPont announced plans to split into three independent, publicly traded companies focusing on Electronics, Water Solutions, and a diversified industrial segment named New DuPont. This separation aims to enhance strategic flexibility, capital allocation, and growth opportunities for each entity. The process is expected to be tax-free for shareholders and completed within 18 to 24 months. Leadership changes include Lori Koch as CEO and Antonella Franzen as CFO of New DuPont.
DuPont's stock is falling as the company anticipates lower-than-expected earnings due to softening demand from Western industrial customers and China. The preliminary year-end results indicate lower earnings and revenue, leading to a 12% drop in stock value. CEO Ed Breen attributes the decline to weak demand and inventory destocking in industrial businesses, with expectations for further sales and earnings decline in the first quarter of 2024. Despite forecasting a return to growth in the second half of 2024, macro uncertainty remains, making it a challenging time for potential investors.
DuPont preannounced disappointing earnings results, causing the stock to drop by approximately 13%. Despite the dip, analysts are not recommending buying at this time.
DuPont De Nemours expects to report a fourth-quarter loss due to destocking and weaknesses in key markets, with a non-cash goodwill impairment charge at a unit of its water and protection segment. The company anticipates destocking to continue impacting sales into the first quarter of 2024 and projects first-quarter sales to be lower than analysts' estimates. CEO Ed Breen cited additional channel inventory destocking and weak demand in China as contributing factors, while rival Dow's shares also fell in premarket trade.
3M, DuPont, and eight other manufacturers of "forever chemicals" have won a legal victory as an Ohio court of appeals struck down a class-action lawsuit brought by a former firefighter on behalf of nearly 12 million Ohio residents. The lawsuit alleged that PFAS chemicals produced by the companies caused harm. The ruling represents a setback for plaintiffs but is expected to help them refine their case. The companies have already agreed to pay over $15 billion to settle claims related to PFAS contamination. Experts predict that the cost of litigation surrounding "forever chemicals" could surpass the largest-ever legal multi-case settlement in US history.
DuPont spinoff Corteva and 3M win an appeal in a class action lawsuit over "forever chemicals," while Zscaler shares fall due to rising costs. Boeing shares climb after an RBC upgrade, but Acelyrin shares plunge following an error in an arthritis drug trial. The S&P Case-Shiller Home Price Index is expected to show an increase in housing prices, while the Consumer Confidence Index is projected to decline.