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☆ DuPont takes welcome M&A break
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Nov 2 (Reuters Breakingviews) - The seemingly eternal makeover at DuPont de Nemours (DD.N) has been forced into a welcome pause. The chemicals giant just scrapped its $5.2 billion acquisition of engineered materials manufacturer Rogers (ROG.N) after failing to secure clearance from Chinese authorities. Under boss Ed Breen, DuPont has undertaken a series of mergers and spinoffs. To pay for the deal, DuPont sold most of its so-called Mobility & Materials division to Celanese (CE.N) for $11 billion. The problem is that DuPont ditched old businesses at lower valuation multiples to fund purchases at much higher ones.

☆ 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.

☆ Cramer's lightning round: You are fighting the Fed with Discover Financial
▼ + stars: | 2022-10-13 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Discover Financial Services : "You are fighting the Fed with DFS. I think the ag group is ready to roll again, as in bull market mode." Loading chart...Royalty Pharma PLC : "I like it, and I'm going to stick with it. Loading chart...Tellurian Inc : "It's at $2, and stocks stop at $0. Loading chart...Zoetis Inc : "I think the stock is now undervalued.

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