Du Pont to cut 1,700 jobs, Fairchild Receives $2.5 B Unsolicited Offer

Mukesh Buch
30 Dec, 2015
New York City

Calavo Growers net swung to profit. Du Pont plans to reduce 1,700 jobs in Delaware. Fairchild received an unsolicited offer for $2.46 billion. KaloBios filed for Chapter 11 bankruptcy.

[R]10:55 AM New York – Calavo Growers net swung to profit. Du Pont plans to reduce 1,700 jobs in Delaware. Fairchild received an unsolicited offer for $2.46 billion. KaloBios filed for Chapter 11 bankruptcy.[/R]

Tollbooth Index slid 22.09 or 0.2% to 10,930.84.

Earnings Review

BlackRock, Inc ((BLK)) fell $1.83 to $341.77 and the investment company sell its luxury shopping mall in central Kuala Lumpur to Malaysia''s Pavilion Real Estate Investment Trust for about $37.33 million or 160 million ringgit.

Calavo Growers, Inc ((CVGW)) gained 1.6% or 81 cents to $50.32 after the fresh food provider said revenues in the fourth-quarter ending in October jumped 3.6% from a year ago to $208 million.

Net in the quarter swung to profit $4.8 million or 28 cents per diluted share compared to a loss of $1.2 million or 8 cents per share from the same quarter last year.

E I Du Pont De Nemours And Co ((DD)) slid 18 cents to $67.39 after the industrial conglomerate plans to reduce 1,700 jobs in Delaware to pursue the cost savings of about $700 million ahead of merger with Dow Chemical Co.

Fairchild Semiconductor International Inc ((FCS)) jumped 3.2% or 64 cents to $20.65 after the power management solution provider received an unsolicited offer of $21.70 a share or about $2.46 billion in cash from unknown bidder identified in SEC documents as """"Party G.""""

KaloBios Pharmaceuticals Inc ((KBIO)) closed the trading at $23.59 and the biopharmaceutical company filed for Chapter 11 bankruptcy and decided to delist its shares from the Nasdaq.