Quick Take: DuPont's New Direction
In the premarket session, DuPont
However, the news swirling around DuPont leading into the event had less to do with the company's earnings report and more to do with what activist investor Nelson Peltz, who announced he had a significant position in the stock during last week's Delivering Alpha Conference, wants the company to do.
Specifically, he thinks spinning off certain assets of DuPont will unlock shareholder value. Reportedly, the company announced it was considering this idea and talked about spinning off its performance chemicals unit in an attempt to move away from cyclical businesses.
Shifting to some other earnings announcements, United Parcel Service
The company, which also reported higher net income, announced that it would be selling 425 company-owned restaurants over the next 12 months in an attempt to reduce the total system ownership.
-- Written by Bret Kenwell in Petoskey, Mich.