Leggett & Platt, a former Dividend King with 52 years of consecutive dividend increases, cut its dividend by 89% in 2024 due to declining sales, high payout ratios, and debt pressures. The company agreed to be acquired by Somnigroup International in a $2.5 billion all-stock deal, allowing shareholders to own about 9% of the combined company. This acquisition aims to create a vertically integrated entity with projected 2025 sales of $11.2 billion and $50 million in annual cost synergies. The deal highlights the challenges even top dividend payers face and underscores the importance of diversification and monitoring payout ratios.
The global automotive microcontrollers market is projected to grow from USD 15.49 billion in 2025 to USD 34.31 billion by 2035, at a CAGR of 8.28%. Growth is fueled by increasing adoption of advanced driver-assistance systems (ADAS), vehicle electrif...
Bitcoin briefly reached a three-week high near $65,600 before retreating to around $64,000, influenced by lower-than-expected US inflation data and geopolitical tensions. Ethereum also reversed from a six-week peak near $1,950, slipping below $1,900....
Bitcoin fell back to $64,000 after reaching a monthly peak of $65,500 due to profit-taking and geopolitical tensions from Iranian strikes on U.S. bases. Most altcoins also declined as bearish sentiment dominated the market, with XRP futures showing i...
Taiwan Semiconductor Manufacturing Company (TSMC) announced an additional $100 billion investment in its U.S. chip production, raising its total commitment to $265 billion. This funding will support the construction of four new fabrication plants usi...
Bitcoin price briefly rose to nearly $65,470 following softer US inflation reports, raising hopes the Federal Reserve might pause rate hikes. However, profit-taking by long-term holders and whales around the $65,000 resistance led to a pullback towar...
