Ashland Forecasts Cloudy Quarter

Ashland says it expects fiscal fourth-quarter operating income in its performance materials and Ashland Distribution units to fall, compared to the same period last year. “While the results of performance materials and distribution are disappointing, they are not surprising, given the state of Ashland’s key North American markets,” says Ashland chairman and CEO James O’Brien. “On the positive side, we have not noticed weakness in the results of our business in Europe.” The firm cites weak markets in North America, and charges...

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