Du Pont (
) is down 9% to $45.30 after the chemical maker reported Q3
earnings and sales below estimates, lowered its FY12 EPS guidance
below estimates, and said that it will cut 1,500 jobs in the next
12-18 months. The news contributed to a corporate earnings-induced
sell-off on Wall Street and sent shares of other chemical companies
sliding into the red.
Dow Chemical (
) is down 3.4% to $28.74.
Huntsman Chemical (
) sliding 6% to $14.73.
Akzoy Nobel (
) down 4.8% to $17.61.
Eastman Chemical (
) down 3% to $54.53.
Monstanto Company (MON) down 2.1% to $87.
DD reported Q3 EPS of $0.44 vs. analyst consensus of $0.49.
Revenues were $7.39 bln, vs. the analyst estimate of $8.17 bln. The
company lowered its FY12 EPS guidance to $3.25 - $3.30 vs. the
prior outlook of the low end of $4.20 - $4.40. Analysts are looking
for $3.99 in EPS.
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