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January 29, 2016Praxair has reported fourth-quarter 2015 net income of $422 million, up 40% year-on-year (YOY), on sales down 13%, to $2.60 billion. The declines were due to negative currency impacts...
January 29, 2016Air Products reports fiscal first-quarter 2016 net income up 9.3% year-on-year (YOY), to $372 million, while sales fell 8% YOY, to $2.4 billion, primarily because of unfavorable...
January 29, 2016Westlake Chemical’s (Houston) $2.9-billion bid for Axiall (Atlanta) is low, says analyst Hassan Ahmed of Alembic Global Advisors (New York). Although the $20/share offer represents a premium over 100%, Axiall has been deeply undervalued by the stock market, Ahmed says....
January 29, 2016
Westlake Chemical (Houston) says its $2.9-billion bid to acquire Axiall (Atlanta) has been “summarily rejected” by the Axiall board of directors. The combination would create North America’s second-largest producer of polyvinyl chloride, with 23% of the market’s 8.9 million m.t./year of production capacity....
January 29, 2016Eastman Chemical reports net earnings for the fourth quarter of $125 million, up from $17 million in the year-ago period, on sales of $2.225 million, down 5% year-over-year (YOY). Adjusted earnings per share of $1.59 declined 3% YOY, but beat the average analyst estimate of $1.55 as compiled by Thomson Reuters (New York)....
January 28, 2016US aromatics spot prices on Wednesday saw little movement as domestic crude inventory rose to its highest level on record, and NYMEX WTI crude futures firmed. US crude and gasoline inventory were both higher for the week that ended on 22 January, according to data released by the Energy Information Administration (EIA) earlier in the day....
January 28, 2016Airgas reports fiscal third-quarter net income down 20% year-on-year (YOY), to $73.9 million, on net sales down slightly at 2.7%, to $1.3 billion YOY, reflecting the challenging...
January 28, 2016Cabot Microelectronics today reported fiscal first-quarter net income down 9.6% year-on-year (YOY), to $11.3 million, on sales that were roughly flat YOY, at $100.4 million. Continued...
January 28, 2016PotashCorp reports fiscal fourth-quarter net income down nearly 50% year-on-year (YOY), to $201 million, mostly due to weaker fertilizer prices in late 2015 and lower sales volumes...
January 28, 2016Methanex (Vancouver) reports net income for the fourth quarter of $11 million, down 92% year-over-year (YOY) from $140 million. Revenue fell 34% YOY to $484 million on a steep decline in methanol prices, the result of falling crude oil values and new production capacity. Adjusted earnings of 16 cts/share, down from 85 cts/share in the year-ago period and just shy of the average analyst estimate of 17 cts/share, as compiled by Thomson Reuters (New York)....