Air Products and Chemicals (APD) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Hedge fund D.E. Shaw shifted course in its campaign for change at industrial gases company Air Products and Chemicals and is now supporting a rival activist's efforts instead of pressing ahead with its own board challenge, sources familiar with the matter said on Thursday.
A growing controversy over the ESG-driven capital allocation strategies of industrial gas provider Air Products illustrates the sorts of challenges so many American companies face related to the energy transition. Management at Air Products has come under fire from major investors in recent weeks due largely to the heavy, high-risk investments it has made in green hydrogen, which is classified as hydrogen manufactured in an electrolysis process using zero-carbon power generation sources only.
Both activists want to address CEO succession planning and capital allocation at the company.
Air Products and Chemicals (APD) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Multi-strategy hedge fund D.E. Shaw nominated three directors to Air Products and Chemical's board, and is pushing for the company to return to historically successful business practices.
CNBC's David Faber delivers his latest Faber Report.
Air Products and Chemicals (APD) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
Air Products & Chemicals (APD, Financial) shares surged by 7.93% recently following the news of a significant activist investment. Mantle Ridge, an investment firm, has acquired over $1 billion in shares and plans to advocate for strategic changes at the company.
An activist investor has taken a stake in the industrial gases company.
Mantle Ridge hedge fund has recently stepped into the industrial gas space by purchasing $1 billion of Air Products (APD, Financial) shares. Mantle Ridge is known as an activist investor that actively involves not just sitting back and watching.
Shares of the industrial gas seller are rising after a media report says an activist investor has built a stake of more than a $1 billion in the company.