Berkshire Hathaway CEO-elect Greg Abel's first big deal, buying Oxy's chemical business for $9.7 billion, follows his mentor Warren Buffett's advice: "Be greedy when others are fearful," writes @CrowleyKev https://t.co/4wmQ4658pz ...

Core Insights - DuPont has honored five scientists and engineers with the 2025 Lavoisier Medal for Lifetime Technical Achievement and the Pedersen Award for their significant contributions to the company and various industries [1][2][3]. Lavoisier Medalists - Steve Jons has over 30 years of experience in developing nanofiltration products, impacting industries such as municipal water purification and wastewater reuse, with a cumulative business impact exceeding $1 billion [5]. - Sourav Sengupta is recognized for his expertise in catalysis and reaction engineering, contributing over $500 million in business impact through innovations in chemical processes, including a novel catalytic hydrogen cyanide manufacturing process [6]. Pedersen Award Recipients - Chris Seay has pioneered process innovations for Kevlar EXO™, achieving significant product performance improvements and reducing production costs, recognized with a Gold Edison Award [7]. - Rupert Spence has contributed to advanced OLED technology, enhancing brightness by 30% while improving display efficiency and reducing carbon footprint [8]. - Shintaro Yamada has advanced semiconductor technologies, particularly in photoresist materials, leading to more efficient chip production with over $1 billion in value delivered [9].

Core Insights - DMC Global Inc. has appointed Sharon S. Spurlin to its board of directors, bringing over 30 years of executive-level financial leadership and boardroom experience in the energy and industrials sectors [1][4] Company Overview - DMC Global is an owner and operator of innovative, asset-light manufacturing businesses that provide unique, highly engineered products and differentiated solutions [5] - The company has established leadership positions in its respective markets, which include Arcadia (architectural building products), DynaEnergetics (global energy industry), and NobelClad (industrial infrastructure and transportation sectors) [5] - DMC Global is based in Broomfield, Colorado, and trades on Nasdaq under the symbol "BOOM" [5] Leadership Experience - Ms. Spurlin currently serves as senior vice president and treasurer at Plains All American Pipeline, overseeing fixed-income capital market activities, banking relationships, financial planning, and treasury operations [2] - She has held significant roles on the boards of AdvanSix Inc. and Smart Sand, Inc., where she chaired various committees [3] - Previously, Ms. Spurlin was the chief financial officer of PetroLogistics LP, leading the company's IPO and governance structure development [3] Strategic Goals - The addition of Ms. Spurlin to the board is expected to enhance DMC's growth strategies, leveraging her financial and governance expertise across energy and industrial businesses [4]

Core Insights - Freshr Sustainable Technologies has entered a joint development agreement with Mitsubishi Chemical Corporation (MCC) to enhance its packaging technology, which aligns with MCC's KAITEKI Vision 35 strategy focused on sustainability and innovation [1][4] - The partnership aims to address the significant economic and environmental impacts of food waste, which costs $2.6 trillion annually and contributes to 10% of global greenhouse gas emissions [2][3] - Freshr has developed the FreshrPack coating that extends the shelf life of fresh proteins by preventing bacterial growth, thereby reducing food waste [3][5] Company Developments - MCC has invested in Freshr to scale up its technology and support its global growth [1][4] - Freshr's CEO highlighted the partnership as a reflection of MCC's commitment to innovation and sustainability, aiming for scalable, science-backed solutions to reduce food waste [2][5] - The partnership is expected to leverage MCC's global expertise to effectively utilize Freshr's technology in addressing food waste issues [3] Market Context - Japan produces 4.64 million tonnes of food waste annually, indicating a significant market for solutions like Freshr's technology [2] - The investment round for Freshr was described as "oversubscribed," indicating strong investor interest and confidence in the company's potential [3]

Core Points - North Atlantic France SAS has signed a share purchase agreement to acquire a majority stake in Esso Société Anonyme Française SA and 100% of ExxonMobil Chemical France SAS, marking a significant milestone in its expansion strategy in France [1][2] - The acquisition aims to enhance European energy security and support the energy transition, with a commitment to maintaining employment and existing benefits [2][7] - The final acquisition price will be determined before the transaction's completion, which is expected in Q4 2025 [7] Company Strategy - North Atlantic aims to establish a long-term presence in France, focusing on strengthening energy security and resilience while promoting lower-carbon solutions [2][3] - The company plans to consolidate the Gravenchon site and implement an ambitious development plan to serve the French energy and industrial sectors [3] - Following the acquisition, North Atlantic will file a mandatory tender offer for the remaining shares of Esso S.A.F. on the same financial terms as the controlling block acquisition [3] Financial Adjustments - The purchase price for the controlling block has been adjusted downward to account for certain social liabilities, but this will not affect the price offered to minority shareholders [5] - Adjustments to the acquisition price include cash distributions prior to completion, a ticking fee mechanism based on accrued interest, and changes in the euro value of Esso S.A.F.'s inventory [5][6] Shareholder Information - A Shareholders Meeting for Esso S.A.F. is scheduled for November 4, 2025, to discuss a proposed distribution of reserves amounting to €60.21 per share, with payment set for November 14, 2025 [4]

Core Insights - Johnson Matthey PLC (JMPLY) is currently viewed as a more attractive investment compared to Air Products and Chemicals (APD) for value investors seeking undervalued stocks [1][3]. Valuation Metrics - JMPLY has a forward P/E ratio of 13.03, significantly lower than APD's forward P/E of 23.01, indicating that JMPLY may be undervalued relative to APD [5]. - The PEG ratio for JMPLY is 2.92, while APD's PEG ratio is 6.17, suggesting that JMPLY offers better value when considering expected earnings growth [5]. - JMPLY's P/B ratio stands at 1.49, compared to APD's P/B ratio of 3.46, further supporting the notion that JMPLY is a more favorable investment option [6]. Investment Ratings - JMPLY holds a Zacks Rank of 2 (Buy), indicating a stronger earnings outlook compared to APD, which has a Zacks Rank of 3 (Hold) [3]. - The Value grade for JMPLY is A, while APD has a Value grade of D, highlighting JMPLY's superior valuation metrics and earnings outlook [6].

Core Viewpoint - High dividend stocks can enhance portfolio returns, but some may represent yield traps due to significant share price declines, increasing the risk of dividend cuts [1][2] At-Risk Dividend Companies LyondellBasell - Current yield is 10.4% but has faced a 96.7% drop in trailing 12-month net income over the past three years and a 91.6% decline in free cash flow to $453 million [4][6] - The company’s annual dividend payouts total $1.72 billion, raising concerns about sustainability given its cash reserves of $1.7 billion [6][7] - A "Cash Improvement Plan" has been initiated, but reliance on borrowing to maintain dividends is not sustainable [7][8] Dow - Current yield is 5.8%, with earnings and free cash flow turning negative in the most recent quarter [9] - The dividend yield exceeded 10% as share prices fell over 60%, leading to a cut in quarterly dividends from $0.70 to $0.35 per share [10] - Further cuts may be necessary if the industry slump continues [10] UPS - Current yield is 7.8%, with net income down 50% and free cash flow down 65% over the last three years [11] - Dividend payouts of $5.4 billion exceed trailing cash flow of $3.5 billion, raising concerns about the sustainability of dividends [12] - The company has a cash reserve of $6.3 billion, but this may not be sufficient to avoid a dividend cut [12] Safe Dividend Company MPLX - Current yield is 7.6%, with net income and free cash flow growing over the past three years [13][15] - The company has a distributable cash flow that is 1.5 times higher than its dividend payouts, providing ample coverage for potential business downturns [15] - MPLX offers a more secure dividend option compared to LyondellBasell, Dow, or UPS [16]

Group 1 - LyondellBasell Industries N.V. offers a high dividend yield of 11% despite facing an industry downturn in the chemical sector [1] - The company is part of a broader trend affecting its peers in the chemical industry, indicating potential challenges ahead [1] Group 2 - The article highlights the focus on company cash flows and access to capital, which are critical for evaluating investment opportunities [1] - The investing group mentioned provides insights into various sectors, including energy midstream and commercial mREITs, which may be relevant for investors [1]

Group 1 - LyondellBasell Industries N.V. offers a high dividend yield of 11% despite facing an industry downturn in the chemical sector [1] - The company is part of a broader trend affecting its peers in the chemical industry, indicating potential challenges ahead [1] Group 2 - The article highlights the focus on company cash flows and access to capital, which are critical for evaluating investment opportunities [1] - The investing group mentioned provides resources such as a "Best Opportunities" List and coverage of various sectors, including energy midstream and commercial mREITs [1]

Group 1 - The article discusses the expansion of coverage to the chemical industry, indicating a belief that valuation models applicable to other sectors can also be used here [1] - The investing group, The Aerospace Forum, focuses on identifying investment opportunities in the aerospace, defense, and airline sectors, leveraging data-informed analysis [1] - The analyst provides context to industry developments and their potential impact on investment theses, emphasizing the importance of understanding trends [1] Group 2 - The article highlights the availability of data analytics monitors for investors, which can enhance decision-making processes [1] - It is noted that the analyst has no current positions in the companies mentioned, ensuring an unbiased perspective [1]