Sep. 18, 2014, 10:00 AM| 4 Comments
Sep. 17, 2014, 9:10 AM
- DuPont (NYSE:DD) responds to Trian Fund Management's call for a breakup of the company, saying it had engaged in a "constructive dialogue" with the activist investor.
- DuPont's board says it is intent on executing on a plan that includes cutting costs by $1B, separating its performance chemicals business and buying back $5B worth of shares; cites shareholder returns of 220% vs. 144% for the S&P 500 since year-end 2008.
- DD +3.3% premarket.
Sep. 17, 2014, 4:26 AM
- Activist investor Trian Fund Management is seeking public support to force DuPont (NYSE:DD) to break itself up, after more than a year of unsuccessful private efforts.
- Trian says Dupont's overly complex corporate structure is a large weight for the company's seven business lines, and makes it difficult for investors and the company to assess their prospects.
- As it launches its new campaign, Trian says its plan would cut annual costs by $2B-$4B.
Sep. 16, 2014, 7:17 AM| 1 Comment
Sep. 3, 2014, 6:57 PM
- DuPont (NYSE:DD) and Atlantic Richfield agree to pay ~$26M in a settlement with the EPA and the state of Indiana for a cleanup of lead and arsenic contamination in parts of an East Chicago, Ind., neighborhood.
- According to the EPA and Justice Department, yards in the area were contaminated through industrial operations from at least the early 1900s through 1985; lead smelting and refining, as well as other manufacturing processes that used lead and arsenic, were located on and near the area that became the Calumet neighborhood.
Sep. 2, 2014, 9:56 AM| 1 Comment
Sep. 2, 2014, 7:10 AM
- Dupont (NYSE:DD) has sold its 67% stake in its polymers joint venture, Speciality Polymers Antwerp, to minority partner Borealis.
- Under the terms of the deal, DuPont will continue to provide ethylene vinyl acetate and acrylate copolymers and Borealis will supply DuPont with ethylene vinyl acetate and acrylate copolymers from the facility.
Aug. 28, 2014, 10:43 AM
- Syngenta (SYT -0.3%) is open to a deal, whether as an acquirer or as a target, perhaps with Dow Chemical (DOW -1.4%) or DuPont (DD +0.2%), Bloomberg speculates.
- SYT and Monsanto (MON -0.5%) held preliminary talks with advisers earlier this year about a combination that never came to fruition, which shows SYT’s willingness to make a deal, analysts say.
- One option discussed is a takeover of Dow’s agricultural business, which Dow is open to divesting; SYT also could merge with DuPont and then spin off the U.S. company’s non-agricultural businesses.
- Dow may be a better candidate to use a SYT acquisition to relocate overseas for tax advantages, analysts suggest, but with the Obama administration looking at ways to discourage tax-inversion acquisitions, DuPont’s well-known brands and sales to the U.S. military may spark greater political pushback.
Aug. 27, 2014, 4:58 PM
- DuPont (NYSE:DD) agrees to pay $1.28M to settle alleged violations tied to hazardous chemical leaks at the Belle chemical plant in West Virginia during 2006-10 that left one DuPont worker dead, the U.S. Justice Department and EPA announce.
- DuPont also agrees to implement new procedures to improve its response to alarms over hazardous releases, which are expected to cost $2.28M; the company already has spent ~$6.83M to comply with a 2010 order from the EPA over Clean Air Act violations.
Aug. 26, 2014, 9:36 AM
- A group of global biotech crop companies have blocked a law passed last year which limits the planting of biotech crops and use of pesticides on the Hawaiian island of Kauai. The Hawaiian islands are a popular testing ground for the crops due to their favorable year-round climate.
- U.S. Magistrate Judge Barry Kurren agreed with arguments presented by DuPont (DD +0.2%), Syngenta (SYT +0.9%) and Agrigenetics and ruled that the law passed in November by local leaders on the island was invalid because it was pre-empted by Hawaii state law.
- The law was to take effect on Aug. 16, but its enactment was delayed due to the pending court decision.
- Syngenta, DuPont and Agrigenetics lease thousands of acres on Kauai for GMO crop testing.
Jul. 22, 2014, 7:59 AM
- Dupont (NYSE:DD) reports that Q2 net income rose to $1.07B, or $1.15 per share, from $1.03B, or $1.11 per share, a year earlier. Net sales fell 1% Y/Y to $9.7B.
- Operating EPS of $1.17 dropped from the $1.28 per share last year, but was in accordance with the company's expectations stated in its June 26th announcement.
- Revenue fell to $9.7B versus $9.8B Y/Y. Volume growth in crop protection, nutrition and health and most industrial businesses was offset by the impact of portfolio changes, a planned maintenance shutdown and lower corn seed volumes.
- The company has also said it will pay a $0.47 dividend in Q3 - a 4.4% increase from Q2's dividend of $0.45. The raise marks Dupont's third increase in the past 27 months.
- Q2 earnings
Jul. 22, 2014, 6:17 AM
Jul. 22, 2014, 6:02 AM| 1 Comment
Jul. 21, 2014, 5:30 PM
Jun. 27, 2014, 8:16 AM
- DuPont (DD) -3.1% premarket after cutting its Q2 and FY 2014 earnings outlook, pointing to slower than expected sales growth in its agriculture and performance chemicals units.
- DD said in a conference call that it expects Q2 operating earnings in its agriculture business to fall in the low teens in percentage terms, with corn pricing in North America expected to be slightly lower than its previous estimate and returns of unused corn seeds in Brazil to be higher than anticipated.
- Dow Chemical (DOW) -0.7% premarket; chemical peers FMC, SYT, MON, LYB, CE and HUN also will be on watch today.
Jun. 26, 2014, 5:34 PM
DD vs. ETF Alternatives
E I du Pont de Nemours & Company is a science and engineering company that offers products and patents applications for agriculture, nutrition, electronics and communications, safety and protection, home and construction, transportation and apparel.
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