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☆ China's economy is struggling, but it might not be all that bad for the US
▼ + stars: | 2023-08-28 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

US imports from China are down this year, and direct investment in China is a sliver of the US GDP. However, William Lee, the Milken Institute's chief economist, told Insider China's economic stumble might not be all bad for the US. Meanwhile, Chinese imports of US goods, which may continue to slow, amounted to less than 1% of the US GDP, suggesting a reduction in Chinese imports wouldn't drastically harm the US economy. In addition, China's slowing economy has already chipped away at some American companies' revenues, including DuPont's and Danaher's. AdvertisementAdvertisementThough China's economy has been plagued by a number of crises, including low consumer confidence, many Americans may not have to worry about the downturn hurting their wallets.

Persons: Joe Biden, Janet Yellen, William Lee, Milken, Lee, Paul Krugman, —, Luis Torres, it's Organizations: Service, Milken Institute's, US, New York Times, Commerce Department, Federal Reserve, Bank of England, European Central Bank, Federal Reserve Bank of Dallas Locations: China, Wall, Silicon, United States, Ukraine, Russia, Europe, Vietnam, India, Mexico, Hong Kong, Canada, American

☆ DuPont to sell majority stake in $1.8 billion Delrin resins unit
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsAug 21(Reuters) - Industrial materials maker DuPont De Nemours (DD.N) said on Monday it has agreed to sell an 80.1% stake in its Delrin resins unit to private equity firm TJC, formerly known as The Jordan Company, in a deal that values the business at about $1.8 billion. It will also own a 19.9% non-controlling interest in the unit, which the company had been looking to divest since February last year. The company sold most of its mobility and materials business to Celanese (CE.N) for $11 billion last year. However, it also suffered a setback last year as Chinese regulatory hurdles forced it to scrap the $5.2 billion acquisition of engineering materials maker Rogers (ROG.N). Earlier this year, peers Univar Solutions(UNVR.MX) and Chase Corp(CCF.A) had been taken private by Apollo Global Management and KKR, respectively.

Persons: Denis Balibouse, DuPont De, Ed Breen, Rogers, Sourasis Bose, Pooja Desai Organizations: REUTERS, DuPont, DuPont De Nemours, Jordan Company, ED, Chase Corp, Apollo Global Management, KKR, Thomson Locations: Dupont, Geneva, Switzerland, Celanese, Bengaluru

☆ DuPont to sell majority stake in Delrin resins unit for about $1.6 bln
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

A logo is pictured outside of Dupont offices in Geneva, Switzerland, April 15, 2021. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsAug 21(Reuters) - Chemical maker DuPont De Nemours (DD.N) said on Monday it has agreed to sell 80.1% of its Delrin resins unit to private equity firm TJC, formerly known as The Jordan Company, for about $1.6 billion. It will also own a 19.9% non-controlling interest in the unit, which the company had been looking to divest since February last year. It sold most of its mobility and materials business to Celanese (CE.N) for $11 billion last year. However, it also suffered a setback last year as Chinese regulatory hurdles forced it to scrap the $5.2 billion acquisition of engineering materials maker Rogers (ROG.N).

Persons: Denis Balibouse, DuPont De, Rogers, Sourasis Bose, Pooja Desai Organizations: REUTERS, DuPont, DuPont De Nemours, Jordan, ED, Thomson Locations: Dupont, Geneva, Switzerland, Celanese, Bengaluru

☆ These are the five stocks Jim Cramer would buy today – and why
▼ + stars: | 2023-08-17 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

There are five stocks I would buy right now if I were just joining the Club, or had come into some new money. And Dupont has a ton of cash to buy back stock while it happens. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Jerome Powell, Powell, Ed Breen, Dupont, Danaher, Eli Lilly, Vimal Kapur, Stanley Black, Decker, Jim Cramer's, Jim Cramer, Jim, Al Drago Organizations: Club, DuPont de Nemours, GE HealthCare, Honeywell, Boeing, General Electric, GE, Airbus, SWK, CNBC, US Federal Reserve, Market, Bloomberg, Getty Locations: GEHC, Washington , DC

Following Monday's trade, Dupont will have a 1% weighting in Jim Cramer's Charitable Trust, the porfoltio we use for the Club. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. Traders work on the floor of the New York Stock Exchange (NYSE) on August 02, 2023 in New York City.

Persons: Dupont, Jim Cramer's, DuPont, it's, repurchased, There's, Ed Breen, Jim Cramer, Jim, Spencer Platt Organizations: DuPont, Jim Cramer's Charitable Trust, Club, DuPont Electronics &, Devices, Rogers Corporation, Rogers, JPMorgan, CNBC, Traders, New York Stock Exchange, Getty Locations: China, Celanese, New York City

☆ Cramer is 'chipping away' at troubled stocks in the Club portfolio
▼ + stars: | 2023-07-24 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer said this is part of a strategy to "chip away" at troubled stocks in the portfolio. J & J shares climbed 7% late last week after the company reported a strong second quarter and built on those gains Monday morning. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Goldman Sachs, Johnson, Jim, I'm, Jim Cramer's Organizations: CNBC, Dow Jones, Chevron, Dow, Wall, Federal Reserve, Johnson, DuPont, Jim's Charitable Trust, JPMorgan

☆ Bullpen gets a new stock that can continue to benefit from Wall Street's broadening rally
▼ + stars: | 2023-07-22 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

The stock we're adding first is DuPont (DD). In conjunction with the transaction, DuPont was in the process of selling its Mobility & Material (M & M) business to Celanese for $11 billion in cash. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: we'll, DuPont couldn't, Rogers, Celanese, that's, Steve Tusa, Ed Breen, Jim Cramer's, Jim Cramer, Jim Organizations: Dow Jones, DuPont, Investing, Rogers Corporation, Federal Reserve, JPMorgan's, Industry, CNBC, New York Stock Exchange, Bloomberg, Getty Locations: Celanese, China, New York

☆ Veteran Morgan Stanley dealmaker Rob Kindler to join law firm
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +2 min

June 6 (Reuters) - Rob Kindler, a top executive at Morgan Stanley (MS.N), is leaving the investment bank after a 17-year stint to join a major law firm. The veteran dealmaker will join Paul, Weiss, Rifkind, Wharton & Garrison as the global chair of mergers and acquisitions (M&A), the law firm said on Tuesday. A New Yorker, Kindler began his legal practice at Cravath, Swaine & Moore, another major law firm where he spent nearly two decades. "I am delighted to once again have him as my partner," said Barshay, who is the chair of the Paul, Weiss' corporate department. Kindler's return to legal practice coincides with a challenging period for the industry, which like investment banks, has been navigating a dreary environment for dealmaking.

Persons: Rob Kindler, Morgan Stanley, dealmaker, Paul, Weiss, Kindler, Moore, Kindler's, Scott Barshay, Barshay, Cooley, Goodwin Procter, Niket, Maju Samuel, Chris Reese Organizations: Garrison, Yorker, JPMorgan, Comcast, AT, T Broadband, Dow, IHS, Wall Street, Apollo Global, Arconic, WWE, Endeavor Group, UFC, Thomson Locations: Rifkind, Wharton, New York, Cravath, Bengaluru

REUTERS/Nick Carey/File PhotoWASHINGTON, March 6 (Reuters) - Several federal agencies will work together on competition issues in the seed sector as part of a broader Biden administration push to enhance competition in agriculture, the U.S. Department of Agriculture (USDA) announced Monday. The USDA, Patent and Trademark Office, Department of Justice, and Federal Trade Commission will start up a working group on intellectual property and competition in the seed and agricultural input sector, USDA said. USDA is also creating a "farmer seed liaison" role to deliver on recommendations in a report released by the agency today on how to promote competition in the seed industry. USDA issued a $73 million round of funding under the same program last fall. Reporting by Leah Douglas in Washington and Karl Plume in Chicago Editing by Nick Zieminski and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

☆ DuPont expects strong second-half on boost from China's reopening
▼ + stars: | 2023-02-07 | by ( Ankit Kumar | ) www.reuters.com time to read: +2 min

Feb 7 (Reuters) - DuPont de Nemours Inc (DD.N) on Tuesday projected results to improve in the second-half of the year from steadying consumer electronics demand, normalized inventory levels at customers and China's reopening. DuPont forecast annual sales of $12.30 billion to $12.90 billion, compared with estimates of $12.91 billion, according to Refinitiv IBES data. It expects full-year adjusted earnings between $3.50 and $4.00 per share, compared with estimates of $3.86. The price hikes helped DuPont post adjusted income of 89 cents per share in the fourth quarter, compared with estimates of 78 cents. California's attorney general last year sued DuPont, 3M (MMM.N) and several other companies over toxic "forever chemicals".

☆ DuPont fourth-quarter profit beats on higher prices
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

Feb 7 (Reuters) - Industrial materials maker DuPont de Nemours Inc (DD.N) reported a fourth-quarter profit on Tuesday that beat analysts' estimates, as higher pricing for its products helped offset an increase in costs. The company has been increasing prices to tackle rising costs for raw materials and energy. Prices of U.S. natural gas , a key input, averaged $6.10 per million metric British thermal units during the October-December quarter, nearly 26% higher from a year earlier. DuPont's net sales fell 4% to $3.1 billion in the quarter, compared with analysts' estimates of $3.09 billion, according to Refinitiv IBES data. On an adjusted basis, the company earned 89 cents per share, beating estimates of 78 cents per share.

☆ Hedge funds are adding to these 'rising star' stocks with conviction, according to Goldman
▼ + stars: | 2022-11-25 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The hedge fund community has bought several stocks with conviction during this year's market turmoil, and those same names could outperform going forward, according to Goldman Sachs. Goldman then identified a number of Russell 1000 stocks with the largest increase in number of hedge fund owners during the third quarter — so-called "rising stars." During the last 20 years, these rising hedge fund stars have typically gone on to outperform sector peers during the quarters following their rise in popularity, Goldman said. UnitedHealth stands on top of the list, with 31 hedge funds adding the stock last quarter. Other top picks among hedge funds included Signify Health , Edwards Lifesciences and TransUnion .

☆ Stocks making the biggest moves in the premarket: Take-Two Interactive, Lyft, TripAdvisor and more
▼ + stars: | 2022-11-08 | by ( Peter Schacknow | ) www.cnbc.com time to read: +3 min

Lyft (LYFT) – Lyft sank 17.3% in premarket action after its latest quarterly report showed slowing revenue growth and ridership levels that remain below pre-pandemic levels. The ride-hailing service did, however, report better-than-expected earnings for its latest quarter. TripAdvisor (TRIP) – TripAdvisor shares plummeted 20.8% in premarket trading after the travel website operator's quarterly earnings came in below Wall Street forecasts. Coty (COTY) – The cosmetics company reported earnings that matched Wall Street estimates, with revenue slightly above analysts' forecasts. Planet Fitness (PLNT) – The fitness center operator's stock surged 7.1% in the premarket after its quarterly revenue and profit beat Wall Street estimates and it raised its full-year forecast.

Qualcomm (QCOM.O) ended its $44 billion purchase of Dutch peer NXP Semiconductors NV in 2018 after failing to secure regulatory approval. read moreChina's regulators have declined to comment on the DuPont deal and have not provided a reason for the delay in reviewing it. One merger arbitrage fund investor, who declined to be named, said deals involving Chinese approval will be closely watched in the aftermath of the scrapped DuPont-Rogers deal. Shares of some U.S. companies with a significant footprint in China that are waiting to complete deals dropped on Wednesday as a result. Some investors cautioned, however, that the collapse of these deals hinges not just on whether Chinese regulators will withhold clearance but also on whether the acquirers are committed to the transactions.

☆ DuPont scraps $5.2 bln Rogers buyout due to China hurdles
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +2 min

DuPont said the termination of the deal was agreed with Rogers as they have been unable to obtain timely clearance from all the required regulators. Shares of engineering materials maker Rogers plunged 43% in extended trading on Tuesday, while those of DuPont rose about 6%. The collapsed Rogers deal is the most prominent global acquisition to be called off in four years due to Chinese regulatory hurdles. In 2018, Qualcomm Inc (QCOM.O) walked away from a $44 billion deal to buy NXP Semiconductors (NXPI.O) after failing to secure Chinese regulatory approval amid China-U.S. trade tensions. DuPont added it would pay Rogers a termination fee of $162.5 million.

☆ Stocks making the biggest moves midday: Tupperware, Airbnb, Paramount, Estee Lauder and more
▼ + stars: | 2022-11-02 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +6 min

Estee Lauder — The cosmetic maker dropped 8% after it gave a weak outlook despite beating expectations for the quarter. Trimble — Shares dropped 7% after Trimble missed revenue expectations in its third-quarter results. Robinson — The stock fell 6% after the transportation and logistics company reported disappointing revenue in its latest results. Airbnb — The lodging stock fell 10.1% after the company reported earnings per share that beat expectations, while revenue came in line with estimates. The company it its fiscal first quarter reported adjusted earnings per share of 93 cents versus expectations of 75 cents.

☆ DuPont pulls the plug on $5.2 bln buyout of Rogers on clearance issues
▼ + stars: | 2022-11-01 | by ( Yousef Saba | ) www.reuters.com time to read: 1 min

Nov 1 (Reuters) - Chemicals maker DuPont De Nemours Inc (DD.N) said on Tuesday it was terminating its $5.2 billion buyout of Rogers Corp (ROG.N) as they were unable to obtain timely regulatory clearances for the deal. Rogers shares plunged 43% in extended trading, while those of DuPont rose about 6%. DuPont added it would pay Rogers a termination fee of $162.5 million. The companies said in September that they had received all regulatory approvals for the deal except from China. Reporting by Ruhi Soni in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ EU clears Celanese to buy DuPont unit on divestment condition
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +1 min

Celanese announced the deal in February but had to offer remedies to address EU antitrust concerns. The combined entity would have been the largest producer of thermoplastic copolyester (TPC) in the European Economic Area and globally, with only a few alternative suppliers remaining. Register now for FREE unlimited access to Reuters.com RegisterThe EU approval is conditional on Celanese divesting its global TPC business, including its production facility in Italy and certain brands. DuPont is remoulding its portfolio to focus on high-margin electronics and water solutions businesses. Register now for FREE unlimited access to Reuters.com RegisterReporting by Charlotte Van Campenhout; editing by Philip BlenkinsopOur Standards: The Thomson Reuters Trust Principles.

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