— Jeff Ward, Lehigh Valley News Briefs
Air Products and Shift4 rose Monday, while OraSure Technologies fell to a 52-week low.
Air Products, based in Upper Macungie Township, gained after the maker of industrial gases said it would add two new independent directors to its board in 2025. Independent directors do not work for a company or hold large stakes in it.
The move comes after two investor groups have asked Air Products to review its strategy, use of capital and to make clear its succession plan. Chief Executive, Chairman and President Seifi Ghasemi is 80.
Ghasemi contends that Air Products can lead the world to a clean-energy transition, using hydrogen instead of fossil fuels.
The closing price Monday (NYSE:APD) was $327.89, up $10.79.
Shift4 (NYSE:FOUR) has been rising steadily for awhile, and ended Monday at $100.62, up $3.61.
The company said Monday it has added the San Antonio Spurs of the National Basketball Association to its client roster. Shift4 processes payments for hotels, restaurants, sports teams, casinos and more. The Spurs announcement is good news but such statements have become pretty routine as Shift4 expands in the U.S. and elsewhere.
OraSure (NASDAQ:OSUR) fell to $3.75. Revenue has been falling fast since the COVID-19 epidemic ended and the flow of government money slowed down.
What’s next for this South Bethlehem maker of diagnostic kits? So far, that appears to be a mystery. Orasure has cut jobs, consolidated facilities and gotten out of a couple businesses in the past couple years. The stock meanwhile meanders along.
— Disclosure: I own shares in Air Products and Shift4 as part of a buy-and-hold strategy. I do not day-trade or invest in derivatives.
Lehigh Valley News Briefs 