3M, DuPont Stocks Are Soaring on PFAS Settlement. A Big Overhang Is Gone. Updated June 2, 2023 3:58 pm ET / Original June 2, 2023 2:23 pm ET- Shares of 3M MMM +8.75% and the DuPont DD +7.31% family of companies are up, a lot, in Friday trading. There has been positive movement on litigation related to so-called PFAS chemicals that have been found in ground water. On Friday, DuPont (ticker: DD), Chemours CC +24.09% (CC), and Corteva CTVA +3.82% (CTVA) announced a settlement with water providers across much of the U.S. The three will contribute about $1.2 billion to a settlement fund. That money can be used to monitor and clean up PFAS. (The three companies are involved because they were once part of a larger DuPont.) PFAS litigation has been an overhang for years. The settlement is an important market for investors looking to size the total liability. PFAS, short for per- and polyfluoroalkyl substances, were manufactured in the U.S. from the 1940s through 2000. They are long-lasting, and can continue to harm people’s health, according to the Environmental Protection Agency. States and municipalities are cleaning up sites involved in the manufacture of the chemicals, while governments are pursuing liability suits seeking money from producers. DuPont stock is up 7.7%. Chemours and Corteva shares have gained 24.3% and 4.1%, respectively. The moves have added about $5 billion in market value to the three companies. The change in Chemours is larger because it has the smallest market capitalization of the three by far. Chemours will contribute about 50% of the money. DuPont will contribute about 34% to the fund, with Corteva contributing about 16%. The settlement doesn’t cover personal-injury litigation or litigation from state attorneys general. Still, the market is happy because there is some certainty on part of the liability and because the settlement is nine figures and not 10 figures.
I'm actively watching FORMFactor & I don't really know why.- their last earn report was really bad. But they have a niche that I like that serves Quantum computing.... FormFactor broke out earlier, but has fallen back below the prior 32.01 entry from a double bottom. If a stock you're tracking clears a buy point then declines 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new base and entry price. Also keep in mind that the most recent consolidation is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one. Although earnings and sales growth came in at -67% and -15%, respectively, in the latest report, that showed improvement for both the top and bottom lines. The company holds the No. 25 rank among its peers in the Electronics-Semiconductor Equipment industry group. Aehr Test Systems (AEHR) and Applied Materials (AMAT) are also among the group's highest-rated stocks.
CPG is about to make a generational move. Next year this will be $12+ Upcoming move ->At least to $9. Last I checked it was $6.70, once it clears that little bump above $8 by by birdie. Crescent Point Energy Corporation Price and Consensus Crescent Point Energy Corporation Price and Consensus
Update- At the close Fri I let 1,000 SOFI go @$7 pocketing a quick $2K. $5----->$7 I really think this re traces to $6> most people have the student debt story wrong. At $6 I want to buy again> SOFI SoFi Technologies, Inc. $7.030.21 <-----------------
With Bread F I want to consider taking a long position.- I did send the name to the HF and was a little put off that they had never heard of them! > After reviewing the idea, the quote I got back was " there could be something there " not exactly an overwhelming go.... But I like that damn chart.> and in fact it dipped a buck or so before it's gaudy rise on Friday. The Option King has had his fun now it's time for the common man/share! Bread Financial Holdings, Inc. (BFH) NYSE - Nasdaq Real Time Price. 30.89+2.16 (+7.52%)<------------
Bloom Energy Corporation (BE) is heading to $22. We have to clear $15 this week which I think we will do> This chart if firming up nicely. This could be a big winner if we have the fortitude to hold. A quick sprint to $22 will test us mentally but I'm holding. NYSE - Nasdaq 14.42+0.46 (+3.30%) At close: June 2 04:00PM EDT
This idea is starting to really take off. Of course I own a very small amount. I still think this is a huge winner due to the Bud light thing... but there's more going on here with a recovery in seltzer... The Boston Beer Company, Inc. (SAM) is still a buy! NYSE - NYSE Delayed Price. 342.66+8.16 (+2.44%)<------------------- At close: June 2 04:00PM EDT