DowDuPont Charge DowDuPont's agriculture unit has revised its long-term sales and profit expectations, and is taking a $4.6 billion charge in the third quarter due to a lowering of the fair value of goodwill and other intangible assets. The company's financial statements for the quarter ended September 30 are not affected by the change, but its share price fell 4.1% in after-hours trading. Wall Street Journal
Dan Loeb Cuts DowDuPont Target as ‘Value Gap’ Lingers Into Split(Bloomberg) Activist investor Dan Loeb is trimming his expectations for DowDuPont Inc. just as the chemical giant prepares to break itself into three companies. Last May, Loeb’sThird Pointhedge fund said in a letter to investors that the pending split could propel DowDuPont to $92 a share, closing a “value gap” of almost 50 percent. Instead, the shares lost value, and a cooling global economy has tempered Loeb’s view. Third Point now sees $80 as a more realistic 12-month target on a sum-of-its-parts basis, according to a person familiar with matter. A representative for Third Point declined to comment.