Eastman Lowers Fourth-Quarter Estimate

Eastman Chemical says it expects fourth-quarter earnings per share to be “significantly” below its previous guidance of 90 cts/share, due to “unprecedented volatility in demand and raw material costs.” Eastman says it also has “limited visibility” at this time into its first-quarter 2009 performance. The company is set to report fourth-quarter and full-year results on January 29. Eastman’s gloomy fourth-quarter earnings per share outlook, which excludes special items, is in contrast to its third-quarter performance that...

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