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Wire

Ancora Reaffirms Acquisition Proposal for H.B. Fuller's BAS Segment

H.B. Fuller (FUL) shareholder Ancora said Monday it reaffirmed its proposal to buy the company's Building Adhesive Solutions, or BAS segment following the board's rejection of the offer.Earlier today, H.B. Fuller said it rejected Ancora's unsolicited offer for the business, saying the proposal "significantly undervalues" the unit.Ancora said it will not hesitate to seek all available legal remedies, if the company's decisions affect shareholders.H.B. Fuller did not immediately respond to a request for comment from.Price: $57.98, Change: $-0.72, Percent Change: -1.23%

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H.B. Fuller Rejects Ancora's $1.2 Billion Offer for Building Adhesives Business
US Markets

H.B. Fuller Rejects Ancora's $1.2 Billion Offer for Building Adhesives Business

H.B. Fuller (FUL) has rejected Ancora's unsolicited offer to acquire the company's building adhesives solutions business for up to $1.2 billion, saying the proposal "significantly undervalues" the unit.Earlier this month, Ancora -- a "meaningful" shareholder in the adhesives and specialty chemicals manufacturer -- publicly unveiled its proposal to purchase the building adhesives segment for between $1.1 billion and $1.2 billion in cash. At the time, the firm said it first reached out to H.B. Fuller's leadership team privately in July to express interest in a "carve-out" transaction involving the unit, but didn't receive a "substantive" response.Ancora's bid "significantly undervalues" the business, ignores its future growth prospects, and lacks the key details needed to ensure the transaction materializes, H.B. Fuller Chair Teresa Rasmussen said in a letter to Ancora Holdings Chief Executive Fredrick DiSanto and Ancora Alternatives President James Chadwick."As key construction end markets recover and benefit from tailwinds such as the data center buildout, we expect (building adhesives solutions) to be a significant driver of earnings moving forward," Rasmussen wrote in the letter published Monday.H.B. Fuller shares were down 1% in afternoon trade."By irrationally rejecting an offer without any engagement, (H.B. Fuller CEO Celeste Mastin) and her value-destructive staggered board have reinforced their proclivity for entrenchment," Chadwick said in a statement e-mailed to. "Anybody with a pulse can infer from Ancora's offer letter that the firm can self-finance, increase its offer and move quickly to address the company's leverage crisis."Engine Capital -- another H.B. Fuller shareholder-- said earlier this month that Ancora's offer for the building adhesives business was a "positive development" and urged the company's board to engage with it "seriously."Rasmussen said Monday the group regularly reviews its portfolio to maximize shareholder value and will continue to do so."The company's focus today is on closing and integrating the acquisition of (Advanced Medical Solutions), continuing to advance project quantum leap, and executing ongoing initiatives to drive commercial and manufacturing excellence," Rasmussen wrote in the letter. "H.B. Fuller's board is confident that the company's management team is well positioned to advance these actions, which will meaningfully enhance portfolio mix."The rejection of Ancora's offer by H.B. Fuller's board looks like "an escalation rather than a resolution," Wedbush Securities said."Calling the bid 'irrational' while offering no counterproposal leaves Ancora's entrenchment narrative unrebutted and keeps overhang risk elevated into (the second half of 2026)," the brokerage said in a note to clients.In June, H.B. Fuller offered to acquire Advanced Medical Solutions for an enterprise value of 715 million British pounds ($974.5 million). The British medical supplier's shareholders approved the transaction earlier this month.Price: $58.21, Change: $-0.49, Percent Change: -0.83%

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Wire

Top Midday Stories: Treasury Reportedly Could Use General Account to Fund Buybacks; Trump Raises Tariffs on Canadian Cars and Steel to 50% on Jan. 1

Stocks were mixed in late-morning trading Monday, with the Dow Jones Industrial Average up and the S&P 500 Index and Nasdaq Composite down, as Treasury yields fell after CNBC reported that the US Treasury Department may tap its General Account to help fund its buyback operation.The US will raise tariffs on all cars, trucks, automotive parts and steel from Canada to 50%, effective Jan. 1, 2027, President Donald Trump said Monday on Truth Social.In company news, Nvidia (NVDA) customers are facing price increases of over 15% on servers equipped with its artificial intelligence chips due to rising memory costs, Bloomberg reported Saturday, citing people familiar with the matter. The price hikes will impact systems shipped early next year, including those with Vera Rubin and Grace Blackwell chips, the report said, citing the people. Separately, Nvidia is discussing an investment in AI startup Perplexity as part of a funding round that would value the company at more than $30 billion, The Information reported Sunday, citing people familiar with the talks. The round could be worth billions of dollars and would increase Perplexity's valuation by more than 50% from its last financing, the report said. Nvidia shares were down 2.2% around midday.Alibaba (BABA) has officially rolled out its Wan3.0 AI video generation tool, Reuters reported Monday, citing a post on China's WeChat platform. The new model is able to produce 30-second videos from documents, spreadsheets, slides and web pages, the report said. Separately, Alibaba Chief Executive Eddie Wu bought 350,000 shares of the company for about $5 million, according to a regulatory filing with the US Securities and Exchange Commission. Alibaba shares were up 0.7%.PDD (PDD) reported Q2 non-GAAP earnings Monday of 19.33 Chinese renminbi ($2.88) per diluted American depositary share, down from 22.07 renminbi a year earlier but above the FactSet consensus analyst estimate of 18.45 renminbi. Second-quarter revenue was 112.36 billion renminbi, up from 103.99 billion renminbi a year ago but below the FactSet consensus of 115.09 billion renminbi. PDD shares were down 1.9%.Shell (SHEL) has drawn interest from potential bidders including ExxonMobil (XOM), LyondellBasell (LYB) and Apollo Global Management (APO) for its US chemicals assets, which could fetch up to $8 billion, the Financial Times reported Monday, citing people familiar with the matter. Shell shares were down 0.5%, while Exxon, LyondellBasell and Apollo shares were down 1.6%, down 2.2% and up 0.2%, respectively.H.B. Fuller's (FUL) board has rejected Ancora's bid to acquire its building adhesives unit for up to $1.2 billion, the company said Monday. The board concluded Ancora's bid undervalued the unit and failed to take into account its potential to be a significant driver of earnings in the future, the company said. H.B. Fuller shares were down 0.9%.Braskem (BAK) filed for out-of-court restructuring Monday, which involved more than $10 billion in debt, Reuters reported, citing people familiar with the matter. The filing, which comes as the petrochemical company's 60-day creditor protection period expires, provides an extra 90 days to negotiate a final restructuring plan with creditors, according to the report. Braskem shares were down 4.3%.Paramount Skydance's (PSKY) Monday meeting with California officials was canceled after State Attorney General Rob Bonta accused the company of leaking details and negotiating in bad faith over its proposed acquisition of Warner Bros. Discovery (WBD), The New York Times reported. Paramount shares were down 0.8%, while Warner Bros. shares were up 0.7%.Zillow Group (Z) said Monday it has resolved a lawsuit brought by the US Federal Trade Commission and five states over its partnership with Redfin. Under the agreement, Zillow and Redfin are allowed to continue their partnership, which aims to provide multifamily rental listings from both companies. Zillow shares were up 2.3%.Price: $210.12, Change: $-4.60, Percent Change: -2.14%

$APO$BABA$BAK$FUL$LYB$NVDA$PDD$PSKY$SHEL$WBD$XOM$Z
Wire

H.B. Fuller Says AMS Shareholders Approve Proposed Acquisition

H.B. Fuller (FUL) said Advanced Medical Solutions Group shareholders approved the adhesives company's proposed acquisition.The transaction is expected to close by the end of the year, subject to remaining conditions, H.B. Fuller said Thursday in a statement.Price: $60.03, Change: $-0.14, Percent Change: -0.23%

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Insider Trading

H B Fuller Insider Sold Shares Worth $593,332, According to a Recent SEC Filing

Nathan D. Weaver, Executive Vice President, Business Transformation, on August 11, 2026, sold 9,561 shares in H B Fuller (FUL) for $593,332. Following the Form 4 filing with the SEC, Weaver has control over a total of 11,739 common shares of the company, with 11,739 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/39368/000122520826007076/xslF345X05/doc4.xmlPrice: $61.10, Change: $-0.94, Percent Change: -1.51%

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Wire

H.B. Fuller Unit Receives Cash Bid From Ancora for Up to $1.2 Billion

H.B. Fuller's (FUL) Building Adhesive Solutions segment has received a $1.1 billion to $1.2 billion cash acquisition bid from Ancora, the investment advisory firm said Wednesday.Ancora said it privately reached out to H.B. Fuller's leadership in July to express interest in a "carve-out" transaction of the adhesives unit, but it has not received a substantive response.The investment firm said it has the financial backing to consummate the acquisition and is ready to conduct due diligence, negotiate and prepare definitive documentation, as well as finalize and enter into binding agreements."We ask that the board's independent members finally let us know if H.B. Fuller wants to explore the contemplated transaction," Ancora added.H.B. Fuller did not immediately respond to' request for comment.Price: $62.53, Change: $+0.50, Percent Change: +0.81%

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Wire

H.B. Fuller's Building Adhesive Solutions Receives $1.10 Billion-to-$1.20 Billion Acquisition Offer From Ancora

H.B. Fuller's Building Adhesive Solutions Receives $1.10 Billion-to-$1.20 Billion Acquisition Offer From Ancora

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Wire

H.B. Fuller Keeps Quarterly Dividend at $0.2450 per Share, Payable Aug. 13 to Shareholders of Record on July 30

H.B. Fuller Keeps Quarterly Dividend at $0.2450 per Share, Payable Aug. 13 to Shareholders of Record on July 30

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Wire

H.B. Fuller Outlook Remains Beatable With Pricing Realization as Swing Factor, UBS Says

H.B. Fuller's (FUL) 2026 outlook remains conservative and beatable, although the planned acquisition of Advanced Medical Solutions is expected to weigh on the stock's valuation in the near term because of higher leverage, UBS said in a note emailed Friday.The brokerage said it expects pricing realization likely to determine whether the company exceeds the upper end of its outlook."We continue to see the 2H26 outlook for FUL as conservative and beatable," UBS said. "We expect the acquisition of AMS to be a headwind to FUL's trading multiple in the short term," it added.UBS cut its price target to $69 from $71 and maintained its neutral rating.Price: $61.31, Change: $-0.64, Percent Change: -1.03%

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Research

JPMorgan Upgrades H.B. Fuller to Overweight From Neutral, Adjusts Price Target to $67 From $58

H.B. Fuller (FUL) has an average rating of buy and mean price target of $72, according to analysts polled by FactSet.

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Update: Equity Markets Mixed Intraday Ahead of Micron Results; Oil Sinks
US Markets

Update: Equity Markets Mixed Intraday Ahead of Micron Results; Oil Sinks

(Updates with latest market prices and developments.)US benchmark equity indexes were mixed intraday as markets awaited Micron Technology's (MU) latest quarterly results, while oil prices tumbled as tankers continued to move through the Strait of Hormuz.The Nasdaq Composite was down 0.4% at 25,479.2 after midday Wednesday, while the S&P 500 fell 0.2% to 7,347.6. The Dow Jones Industrial Average rose 0.2% to 51,767.7. Among sectors, energy saw the biggest drop, while consumer discretionary paced the gainers.Ahead of its results -- due after the closing bell Wednesday -- Micron shares were down 2.6%, following a 13% slump in the previous session amid a sell-off in chip-related stocks.Trip.com (TCOM), Jefferies Financial (JEF) and H. B. Fuller (FUL) are also scheduled to report after the markets close.KB Home (KBH) shares surged 17% after the homebuilder released its results. Builders FirstSource (BLDR) shares jumped 10%, the top gainer on the S&P 500.Paychex (PAYX) issued a fiscal 2027 outlook that implies slower growth in both profit and revenue. The human resources software provider's shares were down 1.5% intraday.West Texas Intermediate crude oil was down 4.2% at $70.17 a barrel, while Brent dropped 4.3% to $73.75, both off session lows.The price declines came as tankers continued to move through the crucial Strait of Hormuz after being trapped in the Persian Gulf due to the US-Israel war with Iran that started at the end of February.Three stranded tankers carrying about 5 million barrels of crude oil were exiting the narrow waterway Wednesday, with two heading to Asia, Reuters reported, citing shipping data."With shipping traffic steadily improving through the Strait of Hormuz, traders are increasingly focused on a growing queue of cargoes waiting to move," Saxo Bank said in a report.US President Donald Trump, in a social media post, criticized oil companies for "not dropping their prices at the pump commensurate with the sharply lower prices they are paying for oil." Trump said he had instructed the Department of Justice "to immediately start looking into this."Last week, the US and Iran signed a memorandum of understanding to end the war and reopen the Strait of Hormuz, a crucial chokepoint for crude flows that connects the Persian Gulf with the Gulf of Oman and the Arabian Sea.US Secretary of State Marco Rubio is in the Persian Gulf region, seeking to sell the US-Iran deal to the Bahrain, Kuwait, and the United Arab Emirates, which are expected to be among its biggest skeptics, CNN reported Wednesday.US Treasury yields were lower intraday, with the 10-year rate down 9.8 basis points at 4.40% and the two-year rate falling 5.1 basis points to 4.15%.In economic news, new-home sales in the US unexpectedly declined last month as prices moved higher, government data showed."New home sales were much weaker than expected in May, but we think the pace of sales in May probably marks the bottom of what will be a noisy range over the next few months rather than the start of a more sustained decline," Oxford Economics said in a note. "We expect sales to improve later in the year based on our forecast for mortgage rates to move lower."Gold was down 3.5% to $4,004.30 per troy ounce, while silver slumped 6.9% to $57.78 per ounce.

Dow JonesNasdaq CompositeS&P 500$BLDR$FUL$JEF$KBH$MU$PAYX$TCOM
Stocks Mostly Up Pre-Bell Ahead of Micron's Latest Financial Results
US Markets

Stocks Mostly Up Pre-Bell Ahead of Micron's Latest Financial Results

US stock futures were mostly trending higher on Wednesday as markets looked to recover from the previous session's tech-driven selloff, while investors await Micron Technology's (MU) latest quarterly results.The S&P 500 rose 0.2% and the Nasdaq increased 0.5% before the opening bell, while the Dow Jones Industrial Average slipped 0.1%. The indexes closed Tuesday trading lower, with the Nasdaq logging its sharpest decline since June 5.Shares of Micron rose 3.9% pre-bell after closing the previous trading session down 13%. The semiconductor company is scheduled to post its fiscal third-quarter results after the markets close, with analysts on FactSet currently estimating non-GAAP earnings of $20.83 per share and sales of $35.85 billion.Tech bellwether Nvidia (NVDA) was up 0.7% after a 4.1% decline in the prior session. Intel (INTC) increased 1.9%, while Qualcomm (QCOM) advanced 2.1%.Tech stocks may face spillover impact from the recent sharp sell-off in South Korea, though the decline appears to be a "pullback/breather" in a market that almost doubled this year, Wedbush Securities said in a note on Tuesday.FedEx's (FDX) stock fell 7.2% as the parcel delivery giant issued a downbeat earnings outlook for the full 2026 calendar year. Wendy's (WEN) jumped 15% as the fast-food chain hired Potbelly Sandwich Works finance chief Steve Cirulis for the same role, effective Tuesday.West Texas Intermediate crude oil decreased 1.5% to $72.09 a barrel in premarket action, while Brent slipped 1.6% to $75.86.In a social media post early Wednesday, President Donald Trump said he has instructed the Department of Justice to "immediately start looking" into oil companies not lowering their prices."The big oil companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for oil," according to Trump. "Those prices are dropping like a rock! In other words, customers are being 'gouged.'"US Secretary of State Marco Rubio arrived in the Gulf region, aiming to sell the Iran deal to three countries -- the United Arab Emirates, Bahrain and Kuwait -- that are likely to be among the biggest skeptics, CNN reported Tuesday.Treasury yields were mixed before the open, with the two-year rate nudging higher by 0.1 basis point to 4.2% while the 10-year rate retreated 0.8 basis points to 4.49%.On Wednesday's economic calendar, the weekly mortgage applications bulletin posts at 7 am ET, followed by the new home sales report for May at 10 am. The weekly EIA domestic petroleum inventories report is due at 10:30 am.Paychex (PAYX) is expected to post its financial results before the bell, while Trip.com (TCOM), Jefferies Financial (JEF) and H. B. Fuller (FUL) report after the markets close.Gold declined 1.8% to $4,076 per troy ounce, while bitcoin traded up 0.3% at $62,455.

Dow JonesNasdaq CompositeS&P 500$FDX$FUL$INTC$JEF$MU$NVDA$PAYX$QCOM$TCOM$WEN
Wire

H.B. Fuller Set to Beat Q2 Earnings, May Raise Guidance, UBS Says

H.B. Fuller (FUL) is set up to beat Q2 earnings expectations and potentially raise full-year guidance, UBS Securities said, arguing that management set an overly cautious outlook when uncertainty was particularly high following the onset of Middle East disruption earlier this year.The investment firm lifted its earnings estimates materially above consensus, driven by a better-than-expected raw materials outlook, an improved volume trajectory and pricing realization tracking near the company's targeted range.The brokerage said in a note on Tuesday that it sees the top end of any raised guidance range as achievable, with further upside possible if pricing outperforms.A potential acquisition of Advanced Medical Solutions is complicating the setup, with investor sentiment skewing negative on deal concerns over leverage rising to levels that could preclude a private equity takeout, seen as a key near-term value catalyst, according to the note.UBS has a neutral rating on the company's stock and raised its price target to $71 from $63.Price: $64.80, Change: $+1.08, Percent Change: +1.69%

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Research

JPMorgan Upgrades H.B. Fuller to Neutral From Underweight, $58 Price Target

H.B. Fuller Company (FUL) has an average rating of overweight and mean price target of $70.43, according to analysts polled by FactSet.

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Wire

H.B. Fuller Shareholder Ancora Opposes Proposed Acquisition of Advanced Medical Solutions

H.B. Fuller (FUL) shareholder Ancora said Tuesday it opposes the adhesives company's proposed acquisition of Advanced Medical Solutions "or any other material purchase."In a letter sent to the company's board, Ancora urged a full review of strategic alternatives, including a potential sale of all or parts of the business, to maximize shareholder value.The proposed acquisition would increase the company's leverage and introduce operating risks, the investment management firm said. It also appears to be a "poison pill" move intended to discourage meaningful acquirer interest, according to Ancora.H.B. Fuller did not immediately reply to a request for comment from.Price: $59.17, Change: $+1.39, Percent Change: +2.41%

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Wire

H.B. Fuller Building New Aerospace Manufacturing Center in North Carolina

H.B. Fuller (FUL) is building a new aerospace manufacturing center in Charlotte, North Carolina, targeting to open the facility in early 2027, the company said Wednesday.The facility will house specialized manufacturing, packaging, testing, and quality operations for the company's aerospace products, with capacity expansion plans in the future, H.B. Fuller said.Price: $62.21, Change: $+2.56, Percent Change: +4.29%

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Wire

H.B. Fuller Raises Quarterly Dividend to $0.245 a Share From $0.235, Payable May 14 to Holders of Record April 30

H.B. Fuller Raises Quarterly Dividend to $0.245 a Share From $0.235, Payable May 14 to Holders of Record April 30

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