DuPont ( DD)is trending as the chemical company announced it plans to cut 1,500 jobs, or 2% of its work force as part of a cost-cutting plan. DuPont said the cuts will take place worldwide over the next 12 months to 18 months. The company hopes to trim costs by $450 million. The company also announced a larger-than-expected drop in operating earnings in the third quarter and guided lower for the full year. DuPont reported net income of $10 million, or a penny per share. Excluding items, the company earned 44 cents per share, below estimates of 46 cents per share. The company now expects 2012 earnings to range from $3.25 to $3.30 per share excluding items, compared to earnings of $3.55 per share last year. The company announced in August it is selling its performance coatings business to Carlyle Group for $4.9 billion.
Target ( TGT) is another popular search. The discount retailer has agreed to sell its $5.9 billion credit card portfolio to TD Bank Group. TD Bank will pay an amount equal to the gross value of the outstanding receivables when the deal closes. The companies also agreed to a seven-year agreement which stipulates that TD will underwrite, fund and own future Target credit card and Target Visa receivables in the U.S.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.