Solstice Advanced Materials has just delivered upbeat news on earnings, an acquisition plan and a dividend, yet the stock has fallen sharply over the past month and current valuation checks suggest the shares do not screen as a clear bargain. The share price is down 35.2% over the past month, which puts recent optimism about the business at odds with how the market is now pricing the stock. Stronger profit delivery and the planned Element Solutions acquisition can support higher earnings...
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Solstice Advanced Materials Inc. (NASDAQ:SOLS) is one of the 10 Stocks Investors Are Running Away From. Solstice extended its losing streak to a fourth consecutive day on Tuesday, slashing 8.74 percent to close at $62.10 apiece, as investors turned sour on its plan to acquire Element Solutions for $14.5 billion. In a statement on the […]
Solstice Advanced Materials has struck a deal to buy specialty chemicals maker Element Solutions for more than $12 billion in cash and stock. Solstice, which was recently spun out of Honeywell, said the deal values Element at roughly 15% premium to Thursday’s closing price of $43.
Solstice Advanced Materials reported earnings per share of 63 cents, a penny better than Wall Street estimates.
Honeywell International is entering the final stages of a multiyear restructuring that will carve the industrial conglomerate into three publicly traded companies.