ADVFN - Advanced Financial Network.
HOME» NYSE » D » DOW Stock Price » DOW Stock News

Dow Chemical Share News

 Dow Chemical Co. Stock Price
DOW Stock Price
 Dow Chemical Co. Stock Chart
DOW Stock Chart
 Dow Chemical Co. Stock News
DOW Stock News
 Dow Chemical Co. Company Information
DOW Company Information
 Dow Chemical Co. Stock Trades
DOW Stock Trades

BASF Backs 2012 Outlook Despite Profit Falling Amid Destocking

FRANKFURT--BASF SE (BAS.XE), the world's largest chemicals company by sales, Thursday confirmed its full-year outlook despite lower second-quarter profit being hit by destocking by customers and stalling demand in China. "Our customers are continuing to act cautiously and are reducing their inventories, also in expectation of falling prices due to declining raw material costs," Chief Executive Kurt Bock said in a statement, adding the Chinese growth engine has also started to fade. BASF continues to guide for an increase in sale and earnings on the year in 2012. After reporting first-quarter earnings in April, BASF expected a stronger second half of the year, with demand mostly coming from emerging markets. It planned to raise prices to offset rising costs and first-quarter margin deterioration. However, at the end of May, vice chairman Martin Brudermueller said business momentum in Asia including China had been weaker than expected, with the European debt crisis weighing on Asian markets. Second-quarter net profit came in below analysts' expectations at 1.23 billion euros ($1.49 billion), down 15% on the year, while sales rose to EUR19.5 billion, up 6% on the year, the company said. The German company's closely-watched adjusted earnings before interest and taxes for the first half year came in largely flat at over EUR5 billion. HSBC said BASF's latest quarter benefited from a resumption of Libyan oil production, "which mitigates to a certain extent any deterioration in profitability in the core chemical businesses." BASF's update follows that of other chemicals companies. U.S.-based DuPont Co. (DD) on Tuesday reported a decrease in second-quarter net profit, due to lower volume and adverse currency moves and now expects 2012 adjusted earnings at the lower end of its current forecast range. Sales in DuPont's agricultural unit however rose 13%, and sales in developing markets also showed a solid increase. Dow Chemical Co. (DOW) reports later on Thursday. Over the past year, BASF shares have lost around 13% of their value, underperforming the Euro Stoxx Chemicals Index which has shed about 9%. Write to Nicky Redl at nicky.redl@dowjones.com Order free Annual Report for BASF SE Visit http://djnweurope.ar.wilink.com/?ticker=DE000BASF111 or call +44 (0)208 391 6028 Order free Annual Report for BASF SE Visit http://djnweurope.ar.wilink.com/?ticker=US0552625057 or call +44 (0)208 391 6028 Order free Annual Report for The Dow Chemical Co. Visit http://djnweurope.ar.wilink.com/?ticker=US2605431038 or call +44 (0)208 391 6028 Order free Annual Report for E.I. du Pont de Nemours & Co. Visit http://djnweurope.ar.wilink.com/?ticker=US2635341090 or call +44 (0)208 391 6028 Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Dow Chemical (DOW)
DateTimeHeadline
12/07/201608:00:00Milestone Achievement Continues for Dow AgroSciences and Agriculture...
12/05/201608:00:00Dow Honored for 12th Consecutive Year as “Best Place to Work” for...
12/01/201616:29:52Statement of Changes in Beneficial Ownership (4)
11/30/201608:45:00Royal Inauguration Celebrates Success of Sadara Chemical Company
11/29/201614:00:00Praxair Approaches Linde About Resuming Deal Talks
11/23/201614:22:12Statement of Changes in Beneficial Ownership (4)
11/23/201608:30:00Dow to Participate in Citi Basic Materials Conference 2016
11/22/201609:00:00Dow’s Energy Efficiency Innovations Support Advancement of G...
11/21/201615:14:00Andrew Liveris Discusses Growth Opportunities in Saudi Arabia
11/16/201616:12:20Statement of Changes in Beneficial Ownership (4)
11/16/201608:00:00Accelerated Cassava Breeding Coming Via OHV Technology Collaboration
11/14/201615:56:43Form 13f Holdings Report (13f-hr)
11/10/201608:00:00Dow AgroSciences and Chromatin Announce Exclusive Commercial...
11/07/201616:35:32Statement of Changes in Beneficial Ownership (4)
11/05/201603:03:00Dow-DuPont Deal Slowed Again -- WSJ
11/04/201615:53:00Dow Wins Seven Prestigious 2016 R&D 100 Awards from R&D Magazine
11/04/201608:50:00EU Suspends Dow-DuPont Merger Review Yet Again
11/04/201608:40:00EU Suspends Dow-DuPont Merger Review Yet Again
11/03/201616:09:33Statement of Changes in Beneficial Ownership (4)
11/02/201616:03:53Statement of Changes in Beneficial Ownership (4)

Dow Chemical and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US