Why Chemours Shares Are Jumping Today
Portfolio Pulse from Lekha Gupta
Chemours, DuPont, and Corteva have reached a comprehensive PFAS settlement with U.S. water systems, establishing a $1.185 billion fund to resolve related drinking water claims. Chemours will contribute 50% ($592 million), while DuPont and Corteva will contribute the remaining 50% ($400 million and $193 million, respectively).
June 02, 2023 | 1:49 pm
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POSITIVE IMPACT
Chemours shares are up 18.9% after reaching a PFAS settlement with U.S. water systems and selling its Glycolic Acid business for $137 million.
Chemours' stock price is likely to rise in the short term due to the resolution of the PFAS settlement and the sale of its Glycolic Acid business, which will bring in additional funds and reduce legal uncertainties.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Corteva's contribution to the PFAS settlement is approximately $193 million, resolving drinking water claims.
Corteva's stock price may remain neutral in the short term as the PFAS settlement resolves legal uncertainties, but the $193 million contribution could impact the company's financials.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
DuPont's contribution to the PFAS settlement is approximately $400 million, resolving drinking water claims.
DuPont's stock price may remain neutral in the short term as the PFAS settlement resolves legal uncertainties, but the $400 million contribution could impact the company's financials.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80