DuPont also reshuffled its management ranks on Tuesday, expanding the role of James C. Collins and Matthew L. Trerotola.
In second quarter earnings released on Tuesday, DuPont said its operating earnings fell to $1.28 a share from $1.50 at this time last year. While the company's bottom line slightly beat Wall Street estimates, quarterly revenue fell to $9.84 billion, missing consensus.
Operating profits at DuPont's performance chemicals business dropped 56% as a result of the falling price of titanium dioxide, otherwise known as TiO2."DuPont is now the third company to publicly explore strategic alternatives for its Ti02 business, with the other two yet to make meaningful progress," noted Andrews, the Morgan Stanley analyst. Peltz of Trian Fund Management, meanwhile, may be interested in corporate breakups as a way to drive new growth and acquisitions. At a CNBC conference earlier in July, Peltz said he would push for Pepsico (PEP) to acquire Mondelez, the legacy Kraft business, in what would be among the largest corporate mergers in recent years. DuPont shares were less than 1% to $57.51 in Tuesday afternoon trading. Trian Fund Management didn't immediately respond to a call seeking comment. -- Written by Antoine Gara in New York Follow @AntoineGara
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