Tuesday, April 21, 2009

DD Earnings


see above article for summary of DD's earnings release

DuPont beat street EPS estimates, however missed on revenue targets and lowered their full year guidance. The new CEO, Ellen Kullman said "strong performance in the agriculture and nutrition unit, along with cost-cutting measures, helped curb the impact of the largest decline in industrial demand in decades." We will update the model and see where the valuation comes out. This is a strong blue-chip company that has undoubtedly been driven down by historically low-demand in many of its key business areas. I still call this stock a HOLD. It has been updated to BUY recently by Jefferies & Co., with the analyst citing its strong dividend yield

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