2. -- The economic calendar in the U.S. on Friday includes Housing Starts for May at 8:30 a.m. ET, Consumer Sentiment for June at 10 a.m., and the weekly Baker Hughes Rig Count at 1 p.m.
Dallas Federal Reserve Bank President Robert Kaplan will be the first Fed official to make the rounds since the Fed raised interest rates on Wednesday for the third time in seven months. Kaplan will address a Rotary Club meeting in Dallas at 12:45 p.m. ET.
Specifically, the DOJ required DuPont to divest some of its crop protection portfolio. It also required Dow to sell its global ethylene acrylic acid copolymers and ionomers business, which supplies products used in food and specialty packaging, adhesives, thermoplastic powder coatings, metal pipe coatings, wood plastic composites and molded durable and sporting goods.
The approval was the last major hurdle the two companies needed to overcome before they could move on to complet their blockbuster deal, which was announced in 2015. Once the deal closes, which is expected in August, DuPont and Dow intend to split into three separate companies focused on agriculture, material science, and specialty products.
Activist investor Dan Loeb of Third Point LLC launched an insurgency campaign in May arguing that the post-closing plan for Dow and DuPont to split into three businesses may not be enough.
Nestle's U.S. confectionery business had sales of around Sfr900 million ($923 million) in 2016. Brands includes Butterfinger, Baby Ruth and Oh Henry! candies. The business represents just 3% of Nestle's U.S. sales.
Nestle said the review is expected to be completed by the end of the year and doesn't include its Toll House baking products, "a strategic growth brand which the company will continue to develop in the U.S. market."
The stock was rising about 2.8% in trading in Switzerland
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