Solventum (SOLV) is being significantly "under-managed" following its spin-out from 3M (MMM) and must take steps to restore its performance, Trian Fund Management said Thursday in an open letter to Solventum's board.
Trian, which owns nearly 5% of Solventum, said the company should right-size overhead costs, simplify its portfolio, and improve capital allocation.
Solventum didn't immediately reply to a request for comment from.
Price: $67.36, Change: $+0.87, Percent Change: +1.31%
Cheesecake Factory (CAKE) reported Q1 adjusted earnings late Wednesday of $1.05 per diluted share, up from $0.93 a year earlier.Analysts polled by FactSet expected $1.01.Revenue in the 13 weeks ended March 31 rose to $978.8 million from $927.2 million a year earlier.Analysts surveyed by FactSet expected $964.6 million.Cheesecake Factory shares rose 4.7% in after-hours trading.
Pilgrim's Pride (PPC) reported Q1 adjusted earnings late Wednesday of $0.51 per diluted share, down from $1.31 a year earlier.Analysts polled by FactSet expected $0.65.Net sales for the quarter ended March 29 rose to $4.53 billion from $4.46 billion a year earlier.Analysts surveyed by FactSet expected $4.43 billion.
National Fuel Gas (NFG) reported fiscal Q2 adjusted earnings late Wednesday of $2.71 per diluted share, up from $2.39 a year earlier.Analysts polled by FactSet expected $2.84.Revenue for the three months ended March 31 was $858.4 million, up from $730 million a year earlier.Analysts surveyed by FactSet expected $856.6 million.The company revised its fiscal 2026 adjusted EPS guidance range to $7.45 to $7.75 from $7.60 to $8.10 earlier. Analysts expect $7.79.