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Stock Market & Financial Investment News

News Breaks
February 1, 2013
16:18 EDTDD, CGDuPont completes sale of Performance Coatings business
DuPont (DD) announced that it has completed the sale of DuPont Performance Coatings for $4.9B in cash, about $4B after-tax, and the assumption of certain liabilities to global alternative asset manager The Carlyle Group (CG). DPC is a global supplier of vehicle and industrial coating systems. "We intend to use a portion of the proceeds from the sale of the DPC business to buy back $1B of the company's common stock during the first half of this year," said executive VP and CFO Nicholas Fanandakis.
News For DD;CG From The Last 14 Days
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April 17, 2015
11:38 EDTDDCelanese hits new 52-week high after raising FY15 profit outlook
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April 16, 2015
12:38 EDTDDDuPont solicits bids for Delaware hotel, country club, Bloomberg says
DuPont has begun soliciting bids for its Hotel DuPont and DuPont Country Club in Wilmington, Delaware, reports Bloomberg, citing a person familiar with the auction. The move would dovetail with the wishes of Nelson Peltz' Trian Fund Management, which claims the company should be broken up due to $4B in excess costs. Reference Link
08:24 EDTDDDuPont sends letter to shareholders, urging vote FOR DuPont's 12 directors
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06:05 EDTCGFormer Wal-Mart CEO Duke heads to Carlyle Group, WSJ reports
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April 14, 2015
13:02 EDTCGFly Watch: Analyst expects strong Q1 results from private equity firms
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07:58 EDTDDDuPont CEO says Peltz wrongly focusing on short-term, WSJ reports
In an interview with The Wall Street Journal, DuPont CEO Ellen Kullman argued that Trian Fund Management's Nelson Peltz is pushing a short-term agenda, stating “Can you cut costs and create a bump short-term? Yes, but where are you going to be in two years, in five years? Do you exist in 10?” Kullman added that Trian lacks the expertise and the patience needed to guide a company whose products may require a decade or more to launch, the Journal added. Reference Link
April 13, 2015
09:53 EDTDDTrian's Garden says 'very confident' in winning DuPont board seats
Ed Garden, Chief Investment Officer of Trian Partners, is speaking on CNBC.
09:52 EDTDDTrian's Garden says something wrong with DuPont R&D spending
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April 9, 2015
08:10 EDTDDDuPont board sends letter to shareholders regarding board constitution
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April 7, 2015
16:18 EDTCGOn The Fly: Closing Wrap
Stocks on Wall Street opened in positive territory, extending their gains from yesterday. The economic calendar was relatively quiet and the volume was light as investors moved to the sidelines ahead of the start of the first quarter earnings season, which kicks off tomorrow after the close with Alcoa's (AA) report. A late day slide saw the major averages give up their gains, leaving the Dow, Nasdaq and S&P 500 a bit below where they had started the day. ECONOMIC EVENTS: In the U.S., the JOLTs report showed job openings rose 168K to 5.13M in February, topping the consensus forecast for about 5M opening. Consumer credit climbed $15.5B in February, versus the expectation for consumers to have added $12.5B in new credit. In Europe, Markit's composite PMI for the eurozone came in at 54.0, which was down slightly from the flash reading of 54.1 but up from 53.3 in February and matched the prior peak seen in April of last year. Elsewhere globally, the central banks of Australia and India left their respective key interest rates unchanged, as expected. COMPANY NEWS: Shares of FedEx (FDX) advanced $4.49, or 2.69%, to $171.16 after the shipper announced a conditional deal to acquire TNT Express (TNTEY) for EUR 8.00 per share in a transaction valuing the Netherlands-based express delivery company at an implied equity value of about $4.8B. The company hopes it is more successful in its acquisition attempt than rival UPS (UPS), which had agreed a number of years ago to buy TNT for EUR 9.50 per share. UPS pulled out of its planned purchase after its proposed deal for TNT was blocked by regulators. MAJOR MOVERS: Among the notable gainers was Axalta Coating Systems (AXTA), which gained $2.78, or 9.81%, to $31.11 after an affiliate of Warren Buffett's Berkshire Hathaway (BRK.A) agreed to buy 20M of Axalta’s common shares for an aggregate purchase price of $560M, or $28.00 per share, from The Carlyle Group (CG). Also higher was Informatica (INFA), which advanced $1.96, or 4.28%, to $47.79 after agreeing to be acquired by the Permira funds and Canada Pension Plan Investment Board for approximately $5.3B, or $48.75 in cash per share. The official announcement follows recent stories from Reuters that the company was working on a deal with a private equity buyer. Among the noteworthy losers was Ocular Therapeutix (OCUL), which dropped $7.25, or 18.93%, to $31.05 after reporting that the company’s second of two Phase 3 clinical trials evaluating the safety and efficacy of its lead product candidate, OTX-DP, met only one of the study’s two primary efficacy endpoints. Also lower were shares of Woodward (WWD), which fell $3.06, or 5.95%, to $48.36 after Jefferies downgraded the stock to Hold from Buy and set a $52 price target on the shares, saying FY15 is another transition year for the company. INDEXES: The Dow slipped 5.43, or 0.03%, to 17,875.42, the Nasdaq lost 7.08, or 0.14%, to 4,910.23, and the S&P 500 declined 4.29, or 0.21%, to 2,076.33.
15:53 EDTCGMicrosoft, Getty Images announce partnership to develop products for Bing
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15:48 EDTCGMicrosoft, Getty Images dismiss copyright infringement dispute, Reuters says
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07:18 EDTCGAxalta Coating announces sale of shares to Berkshire Hathaway
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07:00 EDTDDDuPont, proxy advisory firm to meet this month, Reuters reports
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April 6, 2015
18:15 EDTDDDuPont says cost of Trian breakup proposal approximately $4B, WSJ reports
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09:25 EDTCGCarlyle Group management to meet with Oppenheimer
Meeting to be held in Chicago on April 9 hosted by Oppenheimer.
08:56 EDTDDDuPont expects annual run rate savings of $1B by end of 2015
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