|Bid||19.25 x 900|
|Ask||19.36 x 1000|
|Day's Range||16.66 - 19.41|
|52 Week Range||11.71 - 41.60|
|Beta (5Y Monthly)||2.51|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||1.00 (6.38%)|
|Ex-Dividend Date||Feb 25, 2020|
|1y Target Est||N/A|
Chemours Co. shares rose more than 6% Thursday after the chemicals company beat Wall Street expectations for its adjusted fourth-quarter profit. Chemours said it lost $317 million, or $1.94 a share, in the quarter, versus a profit of $142 million, or 83 cents a share, in the year-ago quarter. The GAAP loss included a $380 million non-cash charge related pension obligations in the Netherlands. Adjusted for one-items, Chemours earned $92 million, or 56 cents a share, compared with $1.05 a share a year ago. Sales fell to $1.4 billion from $1.5 billion, Chemours said. Analysts polled by FactSet had expected the chemicals company to report adjusted earnings of 42 cents a share on sales of $1.4 billion. The company said it expects 2020 Ebitda between $1.05 billion and $1.25 billion, while capital expenditures are expected to be around $400 million and free cash flow "greater than $350 million." It said it expects 2020 adjusted EPS between $2.60 and $3.55 a share. "Our outlook for 2020 reflects top line and bottom line growth across all segments. While the macroeconomic environment remains uncertain, we remain committed to delivering solid earnings growth and a significant improvement in free cash flow." Chief Executive Mark Vergnano said in a statement. Shares of Chemours ended the regular trading day up 0.6%.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Chambers Cogeneration Ltd. Partnership and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.
(Bloomberg Opinion) -- 3M Co.’s messy quarter does little to inspire faith in the company or the industrial economy at large.The maker of Post-it notes, Scotch tape and wound dressings announced a pair of charges – $134 million for a restructuring plan and $214 million for litigation related to PFAS chemicals – that pulled its fourth-quarter earnings per share below analysts’ estimates. 3M’s particular issues aside, the company sits on the front lines of any economic swings, and there was scant evidence in its results that the great industrial turnaround heralded by President Donald Trump’s trade truce with China has in fact arrived.Sales at 3M fell 2.6% in the fourth quarter after backing out the impact of acquisitions and currency swings, leaving the company with its biggest annual decline on that basis since 2009. With U.S. tariffs still in place on some $360 billion of Chinese goods, political uncertainty tied to the American presidential election and few specifics about alleged purchasing commitments from China — not to mention the potential economic impact of the widening coronavirus crisis — a recovery is apt to be more muted.(1) 3M’s concerns run deeper than just a weak macroeconomic backdrop, though. PFAS — which stands for per- and polyfluoroalkyl substances — are known as the “forever chemicals” because they don’t break down in the environment and accumulate in the body. They have been linked to health problems including cancer and immune system dysfunction, spurring a series of lawsuits against manufacturers including 3M and DuPont de Nemours Inc.’s Chemours Co. spinoff. The charge 3M announced Tuesday reflects updated expectations for customer-related litigation and environmental matters for sites where it historically manufactured the chemical. 3M also disclosed on Tuesday that it had received a grand jury subpoena related to non-compliant discharges from an Alabama facility, and said it had discovered similar issues at an Illinois plant as part of a fourth-quarter review.The charges are a reminder of how much investors still don’t know about 3M’s financial exposure to lawsuits and potential environmental regulation. Gordon Haskett analyst John Inch has estimated 3M’s ultimate liability for PFAS – including remediation, personal injury settlements and monitoring expenses – could be about $27 billion. The company didn’t do itself any favors by waiting until the call to disclose the grand jury probe. That was General Electric Co.’s attitude in 2018 when it casually dropped a mention of a Securities and Exchange Commission investigation into some of its accounting practices an earnings call. That isn’t the company you want to keep when it comes to transparency and accountability.In that light, I treat 3M’s latest restructuring push with a dose of skepticism. The company will dismantle the international operations arm that was tasked with setting priorities for geographic regions and instead give its business groups global control over decisions affecting their strategy and resources. This is meant to be “the next step in its transformation journey” following a shakeup last year, where 3M rethought how its businesses are divided up. The idea was to group its products by customers, rather than market – i.e. sales of automotive products to retail shops would fall under the “consumer” unit rather than be lumped in with automotive revenue from manufacturers or body shops. In theory, this all makes sense and should streamline decision-making processes; 3M says it will help the company save as much as $120 million a year. But it also feels like a bit like reshuffling the deck and a convenient way to throw some corporate-speak at a plan to cut 1,500 jobs that might otherwise have felt less like a “transformation” and more like a reaction to still stubbornly sluggish sales growth.For 2020, 3M warned organic sales may be flat at worst. That’s a weaker forecast than some analysts had been expecting, but RBC analyst Deane Dray warned even this downbeat outlook may not be pessimistic enough. It’s possible sales slump yet again, particularly given 3M’s dependence on China’s economy and the impact from the coronavirus outbreak. 3M had been modeling low-to-mid-single digit growth in China in 2020 off of depressed 2019 numbers, CEO Mike Roman said on the earnings call. While the company had already been expecting a sluggish start to the year in China largely due to still-weak automotive markets, the coronavirus is “changing things as we go,” Roman said. Offsetting the possible negative impact on China’s overall economy is the growing demand for 3M’s face masks and other respiratory-protection products.The coronavirus aside, it’s hard to give 3M the benefit of the doubt after a staggering series of guidance cuts over the course of 2018 and 2019. Even if 3M finally did get its outlook right for a change, its best-case scenario for sales growth is a meager 2% increase. Such sluggish but stabilized revenue growth is likely to describe many manufacturing companies’ performance in 2020, but unlike 3M — which declined in 2019 and fell again on Tuesday’s earnings news — many of them aren’t priced for that kind of environment.(1) Elsewhere on Tuesday, CommerceDepartmentdata showed orders for non-military capital goodsexcluding aircraft—a proxy for business investment —unexpectedly declined 0.9% in December.To contact the author of this story: Brooke Sutherland at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Chemours (CC) anticipates the collaboration to help Sharc Energy engage in refrigerant solutions that are more environmentally sustainable.
The Democratic-led House of Representatives on Friday votes 247-159 in favor of a bill that aims to crack down on “forever chemicals” that have been linked to a range of health problems.
It has been a fantastic year for equity investors as Donald Trump pressured Federal Reserve to reduce interest rates and finalized the first leg of a trade deal with China. If you were a passive index fund investor, you had seen gains of 31% in your equity portfolio in 2019. However, if you were an […]
Yes, it is that time of the year again. When the calendar flips, everyone ponders what lies ahead, and resolutions for self-improvement are made; Often, to be broken later. Additionally, it is also a great time to re-examine your portfolio and consider adding in some new, income-oriented names -- including dividend stocks.While stocks overall are blasting to new highs, valuations are looking extended and things look vulnerable to a pullback. The catalyst will likely come when the Federal Reserve returns to a tightening bias, perhaps around March. When that happens, dividend stocks will provide a modicum of protection for equity investors when the volatility returns. * 10 2019 Winners That Will Be 2020 Losers With that in mind, take a look at these seven names to consider as we begin the new decade.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Dividend Stocks to Buy: Macy's (M)Source: Chart courtesy of StockCharts.com Dividend Yield: 9.1%It's no secret that department stores are facing severe headwinds. However, retailers like Macy's (NYSE:M) are aggressively looking to revamp their value proposition to customers. This includes a new, second-hand thrift partnership with thredUP that provides lower cost options to bargain hunters searching for a deal.The company pays a dividend yield of 9.1%, and is enjoying a share price challenge of recent highs near the $17 per share level. The company will next report earnings results on Feb. 25 before the bell, and analysts are looking for earnings of $1.86 per share on revenues of around $8.3 billion. Duke Energy (DUK)Source: Chart courtesy of StockCharts.com Dividend Yield: 4.2%Duke Energy (NYSE:DUK) shares are pushing above their 50-day moving average, continuing a steady rise along its 200-day moving average that's been in play since the summer of 2018. The stock pays a 4.2% dividend yield, and has enjoyed recent analyst upgrades from Goldman Sachs and Barclays. Watch for a return to the prior high near $96-$97, which would be worth a gain of roughly 7% from here. * 7 High-Yield Dividend Stocks for Growth and Income in the 2020s The company will next report results on Feb. 13 before the bell, and analysts are looking for earnings of 89 cents per share on revenues of around $6.6 billion. Chemours Company (CC)Source: Chart courtesy of StockCharts.com Dividend Yield: 5.5%Shares of the The Chemours Company (NYSE:CC) are rounding higher off of a six-month trading range, and look ready for a push above their 200-day moving average for the first time since last April. The chemical company is behind familiar products like Teflon and Freon, and pays a 5.5% dividend yield.It will next report results on Feb. 13 after the close, and analysts are looking for earnings of 46 cents per share on revenues of $1.4 billion. Ford (F)Source: Chart courtesy of StockCharts.com Dividend Yield: 6.4%Shares of Ford (NYSE:F) are consolidating above their 200-day moving average as of late. The company looks ready for a rally to prior highs near $10.20, which would be worth a gain of roughly 10% from here. Ford has been in the news recently for its Mustang Mach-E First Edition electric vehicle, with reservations full. This seems like a sign that the company could take some electric vehicle market share away from Tesla. * 7 Tech Stocks to Buy As the Trade War Ends The company will next report results on Feb. 4 after the close, and analysts are looking for earnings of 17 cents per share on revenues of $36.7 billion. Shares pay a 6.4% dividend yield. Exxon Mobil (XOM)Source: Chart courtesy of StockCharts.com Dividend Yield: 4.9%Exxon Mobil (NYSE:XOM) shares are rising up and out of a six-month consolidation pattern with a run towards its 200-day moving average. Oil prices have been on the move lately, with West Texas Intermediate rising from a low of $51-$52 per share to return to push towards $62 amid the rise of renewed tensions in the Middle East.The company pays a 4.9% dividend yield and will next report results on Jan. 31 before the bell. Analysts are looking for earnings of 73 cents per share on revenues of $63.6 billion. General Motors (GM)Source: Chart courtesy of StockCharts.com Dividend Yield: 4.1%Shares of General Motors (NYSE:GM) are rising back up and over their 200-day moving average, and look ready to test the upper end of a three-year trading range. In early December, the company announced plans to mass-produce battery cells for electric vehicles in collaboration with LG Chem. Together, the companies intend to invest a total of $2.3 billion by 2023 to establish a new battery factory in northeast Ohio. * 5 Hot Housing Stocks That Could Stay Hot in 2020 The company will next report results on Feb. 5 before the bell, and analysts are looking for earnings of seven cents per share on revenues of $30.8 billion. The company pays a 4.1% dividend yield. Kohl's (KSS)Source: Chart courtesy of StockCharts.com Dividend Yield: 5.5%Kohl's (NYSE:KSS) shares are in the midst of a sideways consolidation range going back to May, but look ready for an attempt to push up and over its 200-day moving average. That would open the door to a test of prior highs near $78, which would be worth a gain of roughly 60% from here.The company pays a 5.5% dividend yield and will next report results on May 3 before the bell. Analysts are looking for earnings of $1.97 per share on revenues of $6.6 billion.As of this writing, William Roth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 2019 Winners That Will Be 2020 Losers * 5-Year Returns for 5 Dow Jones Stocks Entering 2020 * 5 Semiconductor Stocks to Buy for Big Gains In 2020 The post 7 Dividend Stocks to Buy to Kick Off the New Year appeared first on InvestorPlace.
(Bloomberg Opinion) -- Round and round the DuPont merry-go-round of financial engineering we go.The chemicals giant agreed on Sunday to sell its nutrition and biosciences division to International Flavors & Fragrances Inc. via a tax-friendly Reverse Morris Trust transaction that values the business at about $26 billion. DuPont de Nemours Inc. will receive a one-time $7.3 billion cash payment and its shareholders will own 55.4% of the combined entity.This is just the latest in a long line of dealmaking by DuPont chairman Ed Breen, who earned the respect of the investing world for salvaging Tyco International from scandal in part by breaking it up several times.(1) At DuPont, he’s helped orchestrate a complicated merger with rival Dow Chemical and a subsequent three-way split. After some rejiggering of the combined companies’ various assets amid pushback from activist investors, DuPont this year spun off the Dow Inc. commodity-chemical business and the Corteva Inc. agricultural-products company. Breen may not be done tinkering with DuPont’s portfolio after the International Flavors deal; Bloomberg News has reported that DuPont is also evaluating a divestiture of its transportation and industrial-chemicals unit. The results of all this maneuvering have been just so-so. Dow is up about 9% since the March record date for its separation, lagging the S&P 500 Index and the benchmark’s materials sub-group. Corteva has slumped nearly 6% since its May debut. DuPont itself is down more than 14% so far this year. That’s partly a reflection of the sheer amount of time it took to orchestrate this complicated musical chairs.The merger with Dow was announced four years ago, and the interim waiting period can create a sort of spin purgatory as investors hold off on rewarding a soon-to-be-simpler company with a valuation lift until all the paperwork is signed. And when a process takes that long, you’re bound to become a victim of bad timing. Dow and Corteva were spun off into a terrible market for chemicals as the U.S.-China trade war and a slowing economic backdrop weighed on demand and profit margins. Moody’s Investors Service this month issued its 2020 outlook for the North American and EMEA chemical sector, calling for an average Ebitda decline of about 5% amid soft commodity prices and weak investment trends. DuPont shares, meanwhile, also have been dragged down by its legal fight with a prior spinoff, Chemours Co., over liabilities linked to PFAS, the so-called forever chemical that was used in the manufacturing of Teflon.Breakup enthusiasts would tell you the share slump might have been worse if these businesses were still bundled together and one management team was trying to oversee their competing capital requirements and growth profiles. There’s certainly a logic to this latest deal. Nutrition and biosciences is DuPont’s largest division and has one of the more attractive growth profiles, but DuPont clearly wasn’t getting credit for this business in its stock.The deal with IFF values the DuPont unit at more than 18 times its adjusted Ebitda in the past year, according to data compiled by Bloomberg. That’s well above what the parent company commands. At the same time, there’s a reason the nutrition and biosciences unit commands a higher valuation. The removal of this generally stable business may make it harder for DuPont to prove that its earnings and sales growth can rise above economic volatility.If DuPont follows through on carving out the transportation and industrial unit as well, that would help limit its exposure to the swings in the automotive industry, which has been a particularly tough market of late. But it’s unclear what the endgame is here. There’s something deeply unsatisfying about a company using yet more breakups to fix a valuation disconnect that its first round of breakups was meant to rectify. Eventually, you run out of assets to sell or spin off. (1) Tyco eventually merged with Johnson Controls years after Breen had moved on, and the combined company took the latter’s name.To contact the author of this story: Brooke Sutherland at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
As we already know from media reports and hedge fund investor letters, hedge funds delivered their best returns in a decade. Most investors who decided to stick with hedge funds after a rough 2018 recouped their losses by the end of the third quarter. We get to see hedge funds' thoughts towards the market and […]