We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Chemours (CC), DuPont & Corteva Back U.S. Water System Deal
Read MoreHide Full Article
The Chemours Company (CC - Free Report) , DuPont de Nemours Inc. (DD - Free Report) and Corteva assured their continued support for the Jun 30, 2023, agreement to address PFAS-related drinking water claims of a defined class of public water systems holistically.
On Dec 20, the notice administrator in the South Carolina aqueous film-forming foam multi-district litigation requested an extension until Jan 3, 2024, to file the list of public water systems that have opted out of the settlement class with the U.S. District Court for the district of South Carolina.
Per the agreement, the companies could elect for their walk-away rights by the number of class opt outs, up until this point. Chemours, DuPont and Corteva stated that they have enough knowledge of the process, and do not intend to exercise the walk-out option and extend support to PFAS Deal with the U.S. Water System.
On Dec 7, 2023, the court issued an order permitting water systems that chose to opt out of the settlement to rejoin the settlement class until Mar 1, 2024. The court convened a fairness hearing on final approval of the settlement on Dec 14, 2023. The companies await the court's final order and support final approval.
Shares of Chemours have risen 8.1% over the past year against a 3.4% decline of its industry.
Image Source: Zacks Investment Research
The company, on its third-quarter call, updated its adjusted EBITDA guidance for 2023, expecting between $1.025 billion and $1.075 billion, down from its prior guidance of $1.100-$1.175 billion. It also sees adjusted free cash flow of more than $225 million, including about $400 million in capital expenditures.
Chemours currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Denison Mines Corp. (DNN - Free Report) and Axalta Coating Systems Ltd. (AXTA - Free Report) .
Denison Mines has a projected earnings growth rate of 100% for the current year. It currently sports a Zacks Rank #1 (Strong Buy). DNN delivered a trailing four-quarter earnings surprise of 225%, on average. The stock has risen around 54.4% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Axalta has a projected earnings growth rate of 5.4% for the current year. It currently flaunts a Zacks Rank #1. AXTA delivered a trailing four-quarter earnings surprise of 6.7%, on average. The stock has risen around 32.1% in a year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Chemours (CC), DuPont & Corteva Back U.S. Water System Deal
The Chemours Company (CC - Free Report) , DuPont de Nemours Inc. (DD - Free Report) and Corteva assured their continued support for the Jun 30, 2023, agreement to address PFAS-related drinking water claims of a defined class of public water systems holistically.
On Dec 20, the notice administrator in the South Carolina aqueous film-forming foam multi-district litigation requested an extension until Jan 3, 2024, to file the list of public water systems that have opted out of the settlement class with the U.S. District Court for the district of South Carolina.
Per the agreement, the companies could elect for their walk-away rights by the number of class opt outs, up until this point. Chemours, DuPont and Corteva stated that they have enough knowledge of the process, and do not intend to exercise the walk-out option and extend support to PFAS Deal with the U.S. Water System.
On Dec 7, 2023, the court issued an order permitting water systems that chose to opt out of the settlement to rejoin the settlement class until Mar 1, 2024. The court convened a fairness hearing on final approval of the settlement on Dec 14, 2023. The companies await the court's final order and support final approval.
Shares of Chemours have risen 8.1% over the past year against a 3.4% decline of its industry.
Image Source: Zacks Investment Research
The company, on its third-quarter call, updated its adjusted EBITDA guidance for 2023, expecting between $1.025 billion and $1.075 billion, down from its prior guidance of $1.100-$1.175 billion. It also sees adjusted free cash flow of more than $225 million, including about $400 million in capital expenditures.
The Chemours Company Price and Consensus
The Chemours Company price-consensus-chart | The Chemours Company Quote
Zacks Rank & Key Picks
Chemours currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Denison Mines Corp. (DNN - Free Report) and Axalta Coating Systems Ltd. (AXTA - Free Report) .
Denison Mines has a projected earnings growth rate of 100% for the current year. It currently sports a Zacks Rank #1 (Strong Buy). DNN delivered a trailing four-quarter earnings surprise of 225%, on average. The stock has risen around 54.4% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Axalta has a projected earnings growth rate of 5.4% for the current year. It currently flaunts a Zacks Rank #1. AXTA delivered a trailing four-quarter earnings surprise of 6.7%, on average. The stock has risen around 32.1% in a year.