DuPont Launches App Development Center in India and 2 Other Dow Movers to Watch
E.I. DuPont de Nemours & Co. (NYSE:DD): Current price $57.83
DuPont has opened an Application Development Center in India that will unite advanced material science with other scientific disciplines so as to offer automobile industry light-weighting, safety, and improved engine performance solutions. The center represents an expansion of the firm’s integrated science capabilities at the DuPont India Knowledge Center in Hyderabad.
The integration, like the combination of high-performance polymers and elastomers is crucial to developing cost-effective and sustainable solutions that will lower DuPont’s dependence on fossil fuels. It is anticipated that the new Center will deliver value-added solutions to customers in automotive as well as food processing, railways, electrical/electronic components, agriculture, irrigation, and textile industries.
ExxonMobil Corp. (NYSE:XOM): Current price $87.37
It is expected that Exxon Mobil will reduce its holdings in the West Qurna-1 oil field in Iraq. Presently, the oil major holds the majority interest of 60 percent in the field, while a minority stake of 15 percent is being held by Royal Dutch Shell. The West Qurna oil field has estimated reserves of 8.7 billion barrels at this time. The move towards the dilution of stake will serve a dual purpose of freeing up funds for the development of the oil field along with diffusing the ongoing political dispute over the ownership of the field.
Microsoft Corp. (NASDAQ:MSFT): Current price $34.61
On Friday, Microsoft announced that its Chief Executive Steve Ballmer will retire as CEO within the next 12 months, once a process to choose his successor is created and implemented. Meanwhile, Ballmer will continue as CEO and lead Microsoft through the next steps of its transformation to a devices and services firm that empowers people for the activities they most value.
Ballmer commented that, “There is never a perfect time for this type of transition, but now is the right time. We have embarked on a new strategy with a new organization and we have an amazing Senior Leadership Team. My original thoughts on timing would have had my retirement happen in the middle of our company’s transformation to a devices and services company. We need a CEO who will be here longer term for this new direction.”