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
11/21/201413:38:06Dow Chemical, Third Point Settle Board Dispute--2nd Update
11/21/201410:37:50Dow Chemical, Third Point Settle Board Dispute--Update
11/21/201409:50:07Dow Chemical, Third Point Settle Board Dispute
10/22/201414:09:09MARKET SNAPSHOT: U.S. Stocks Give Up Gains; Boeing Drags Dow
10/22/201410:15:27MARKET SNAPSHOT: U.S. Stocks Tick Up; Yahoo Rallies
10/22/201409:51:50U.S. Hot Stocks: Hot Stocks to Watch
10/22/201409:06:36MARKET SNAPSHOT: U.S. Stocks: Futures Waver, But Boeing Gains...
10/22/201405:46:19MARKET SNAPSHOT: U.S. Stocks: Futures Dip; Boeing Results, Inflation...
10/19/201405:47:20MARKET SNAPSHOT: More Than 1/3 of Dow Stocks To Report This Week
10/01/201403:38:34Nanoco Appoints Former Dow Executive Keith Wiggins as First COO
08/27/201417:37:28Dow Chemical Puts 2 Specialty Chemicals Units Up for Sale -Reuters
08/25/201421:30:17Judge Overturns GMO Crop Curbs in Hawaii
04/30/201418:19:21Dow Chemical Gets Preliminary U.S. Nod for New Weedkiller...
04/23/201417:02:14MARKET SNAPSHOT: U.S. Stocks Tumble; S&P 500 Ends 6-day Run
04/23/201415:47:47MARKET SNAPSHOT: U.S. Stocks Drift Lower
04/23/201413:32:05Dow Chemical Profit Rises 65% on Declining Costs -- Update
04/23/201410:40:12MARKET SNAPSHOT: U.S. Stocks Fall; PMI, Home Sales Disappoint
04/23/201410:15:39MARKET SNAPSHOT: U.S. Stocks Fall; PMI Slips In April
04/23/201407:58:58Dow Chemical Profit Rises 65%, Helped by Lower Costs
04/20/201406:17:33MARKET SNAPSHOT: Long View On Stocks Is Best During Weak Earnings...

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 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad