DuPont is on the offensive against activists. The company says the activist investment firm Trian Fund’s proposal to break it up would cost $4 billion and diminish the chemical company’s research capabilities. This estimate comes as DuPont is still trying to resist Trian’s efforts to replace four of its directors. Trian is run by the activist Nelson Peltz. Shares rose a fraction to $72.
Hudson City Bancorp & M&T Bank Corp.
Hudson City Bancorp’s planned merger with M&T Bank Corp is delayed, which weighed down shares of both companies today. The combination has been delayed before and the Federal Reserve says it still doesn’t have its decision. Shares of Hudson City off almost seven percent to $9.77, making it the worst performing stock in the S&P 500. M&T fell almost three percent to $123.76.
Shares of Mattel went the other way on an analyst upgrade. The toymaker is now rated a “buy” at B. Reily, with the note citing confidence in the ability of a newly appointed CEO to restore the company’s fortunes. Shares popped almost six percent to $24.
Duke Energy will buyback $1.5 billion worth of its stock, under an accelerated stock repurchase program. If you have Duke in your stock market bracket, you’re happy today: shares were up 1.5 percent to $78.24.
TrueCar impressed investors with news that it added 840 new dealers to its car buying service website in the first quarter. That’s the best quarterly total ever, bringing all of its dealers to an all-time-high of over 10,000. Shares rose two percent to $16.08.
Viacom announcing that it will take a $785 million charge in its latest quarter, it’s also laying off employees and doing some restructuring. The charge is a result of write-downs of under performing TV shows, among other things. The media company will also suspend its buyback program for now.Shares fell initially after the bell before the close the stock was 1.5 percent higher at $68.60.
3D Systems is buying easy way, a Chinese-based 3D printing sales and services provider. The terms of that deal haven’t been disclosed. Shares were up more than four percent to $28.67.
And the health care real estate investment trust Ventas will buy Ardent, a hospital operator for nearly $2 billion. The company also says it will spin off its nursing facilities into a separate REIT. Shares rose five percent to $76.90.