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Chemical Week Magazine :: Viewpoint
12:35 PM MDT | October 3, 2008 | Robert Westervelt Robw@Chemweek.Com
Chemical makers have just closed out a challenging quarter with a very tough week. Shares in the CW75 index slipped 21% during the quarter and 9% for the week ended September 30. Fertilizer stocks, some of which soared tenfold during the past two years, are quickly returning to earth. Agrium, CF Industries, Mosaic, and PotashCorp each posted third-quarter stock declines of 30% or more. The start of the fourth quarter has not been much kinder as all four stocks fell more than 20% each on October 2 after Mosaic reported weaker-than-expected earnings growth (p. 6)...
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