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Quarter-to-quarter wobbles aside, it seems obvious that Du Pont has finally broken out of a decade in which its sales more than doubled-to $7.3 billion in 1975-but earnings rose hardly at all. One reason is that the recovery is increasing demand for Du Font's famous products, nylon, Dacron, Lucite, Freon, Teflon and thousands of others. Another reason is the policy of Irving S. Shapiro, who became chairman...
Like apprehensive stragglers from the Japanese army who thought World War II was still going on long after it was over, Wall Street traders are super-sensitive these days about anything resembling the click of a rifle bolt. Take the case of E.I. du Pont de Nemours & Co., the nation's largest chemical producer. Four weeks ago, Du Pont announced that it would report profits for the second quarter slightly lower than those earned in the first three months of the year. Nervous investors took that as an indication that the recovery of the chemical industry...
Then, last week, Du Pont issued its report-and it became evident that Wall Street had been looking at the wrong comparison. Sure enough, second-quarter profits, at $128 million, were 7% below the first quarter-but they were more than five times greater than a year earlier. Some analysts are now estimating that Du Font's profits for all 1976 will almost double, to about $11 on each share of common stock, and then rise another...
Brimmer, a former member of the Federal Reserve Board and a former director of the Du Pont Company, was appointed to the position in 1974 and was to remain until June 30, 1977. But in a statement issued last week, Brimmer said he was leaving to establish an economic and financial consulting firm in Washington, D.C., as an "outgrowth" of some of his outside activities...
...indicated that institutional investors-mutual funds, pension funds, trusts-that had been on the sidelines had strongly re-entered the market. Furthermore, just about all categories of stocks profited from the upsurge. On one day, advancing issues outnumbered declining ones by seven-to-one. Among the big gainers: Du Pont (11% points), General Electric (4 points), Procter & Gamble (5% points) and U.S. Steel (5% points...