I'm still listening to the live call, but bottom line DD is cutting about 2500 jobs and now expects to report an adjusted loss of 20 cents to 30 cents a share, compared to its prior prediction of a gain in the range of 30 cents to 35 cents a share. Analysts have been looking for a profit of 27 cents/share. Management talked about the challenging environment on almost all fronts, and the "wave of actions" they are taking to deal with it going forward. A detailed plan can be found in the investor presentation from the call located at:
under "supplementary data"
shares are about flat appx a half hour after the announcement
Our position in DD is down almost 55%...the future of it in our portfolio will be discussed in tonight's meeting. I ask that everyone take a look at that presentation and a summary article located at: