du pont (e.i.) de nemours (DD) Key Developments
DuPont and Caribou Biosciences Announce Strategic Alliance
Oct 8 15
DuPont and Caribou Biosciences, announced a strategic alliance. As part of the agreement, DuPont and CaribouÂ have cross-licensed their respective patent portfolios, with DuPont receiving exclusive intellectual property rights for CRISPR-Cas technology applications in major row crops, and non-exclusive rights in other agricultural and industrial bioscience applications. In addition, the alliance between DuPont and Caribou involves a multi-year research collaboration with scientists from the two organizations focused on enhancing the breadth, versatility and efficiency of the core CRISPR-Cas toolkit. DuPont also has made a minority equity investment in Caribou to further strengthen the working relationship. CRISPR-Cas technology is capable of making exact changes to the DNA of most organisms. In plants, this editing capability can be applied to promote drought tolerance and disease resistance to protect plant health and increase crop yields. It also can provide direct consumer benefits like the removal of food allergens and the improvement of the nutrient composition of plant-derived oils.
Woman Receives $1.6 Million over DuPont Co. Chemical in Water
Oct 7 15
An Ohio woman was awarded $1.6 million in the trial of a lawsuit that alleged a chemical from a DuPont Co. plant contaminated drinking water and contributed to her contracting kidney cancer. A jury awarded the damages to 59-year-old Carla Bartlett of Guysville in one of two cases that could influence thousands of similar lawsuits over the chemical giant's discharge of perfluorooctanoic acid, also known as C8. The chemical is used to make Teflon. Some 3,500 people say they became ill after the company dumped C8 into the Ohio River and their drinking water from its Washington Works plant near Parkersburg, West Virginia. The trial, which lasted about three weeks, was the latest development in a yearslong battle between DuPont and residents of the Mid-Ohio Valley in the heart of Appalachia. Bartlett once lived closer to the river. About 80,000 residents filed a class-action lawsuit against the company in 2001. It resulted in a settlement in which DuPont agreed to pay as much as $343 million for residents' medical tests, the removal of as much C8 from the water supply as possible and a science panel's examination into whether C8 causes disease in humans.
E. I. du Pont de Nemours and Company Provides Earnings Guidance for the Second Half and Full Year Ending December 31, 2015
Oct 5 15
E. I. du Pont de Nemours and Company provided earnings guidance for the second half and full year ending December 31, 2015. For the second half, the company expects operating earnings per share of $0.40 and earnings per share from continuing operations (GAAP) of $0.36.
For the full year, the company expects operating earnings per share of $2.75 and earnings per share from continuing operations (GAAP) of $2.53.
DuPont Announces Executive Changes
Oct 5 15
Ellen Kullman, Chair and CEO of DuPont, announced that she will retire from the company effective October 16. On that date, Edward Breen, a current member of the DuPont Board of Directors, will assume the role of Interim Chair and CEO of DuPont. The Board has engaged an executive recruitment firm to identify a full-time replacement.
DuPont Revised Earnings Guidance for the Second Half Year and Full Year of 2015
Oct 5 15
DuPont revised earnings guidance for the second half year and full year of 2015. DuPont announced that it now expects operating earnings per share for the full year to be approximately $2.75, compared with the prior guidance of $3.10. The revised outlook primarily reflects continued strengthening of the U.S. dollar versus currencies in emerging markets, particularly the Brazilian Real; and a further weakening of agricultural markets, primarily in Brazil. The new guidance assumes full-year currency impacts of $0.72 per share, versus the prior expectation of approximately $0.60 per share. Excluding the impact of currency, the revised guidance for full-year operating earnings per share, including expected benefits from share repurchases and cost savings, represents an approximately 3% increase in operating earnings per share year over year.
The company now expects second-half operating earnings per share to be approximately $0.40, compared with the prior guidance of $0.75. Approximately 25% of expected second-half operating earnings will be earned in the third quarter.