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Astral’s demerger plan triggers sharp market selloff, brokerages trim targets

Astral’s stock dipped 11% after announcing a demerger of its chemicals business. Investors are concerned about the valuation and growth prospects of the standalone chemical entity, which currently lags the profitable plumbing segment. While analysts maintain ‘buy’ ratings, some have lowered target prices. The company anticipates significant revenue growth for the chemicals division in the…

In the early 1960s, developers sold 5,850 lots for a private resort on Assateague Island; one five-day storm wiped out nearly every house and helped turn it into a national seashore

Assateague Island was once planned as a major resort community with thousands of homes, roads and commercial areas. Two powerful storms changed that future. A 1933 hurricane split the island, while the 1962 Ash Wednesday storm destroyed roads and structures. The island was later protected as a National Seashore in 1965, preserving its beaches, wildlife…