Spinoff-Stock Slump in U.S. Hurts Cable One, Other New Companies
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Spun-off companies may be falling out of favor with U.S. stock investors if their recent performance is any guide.
Seven newly independent companies made market debuts yesterday. Only three -- Babcock & Wilcox Enterprises Inc., a power-generation specialist; Chemours Co., a chemical producer, and Edgewell Personal Care Co., a household-products maker -- closed higher. Three others dropped more than 6 percent.