The Dow Chemical Company ( NYSE: DOW)

[risparmier]

Dow Chemical balza del 10,493% dopo aver sorpreso le attese con risultati più forti del previsto sul business agricolo.

Oct. 23 (Bloomberg) -- Dow Chemical Co., the largest U.S. chemical maker, reported third-quarter profit that topped analysts' estimates because of price increases on latex and plastics used in consumer packaging. The shares surged the most in almost eight years.
Profit excluding certain items was 60 cents a share, the company said. That tops the 58-cent average estimate of 15 analysts surveyed by Bloomberg. Net income increased 6.2 percent to $428 million, or 46 cents a share, Midland, Michigan-based Dow said today in a statement.
Chief Executive Officer Andrew Liveris is selling half of the company's basic-plastics business and buying Rohm & Haas Co. to focus on more-profitable specialty chemicals used in paints and electronics. Higher prices helped boost sales 13 percent to $15.4 billion and compensated for lower global demand and a record jump in raw-material costs.
``Pricing was much better than I expected,'' said Gene Pisasale, who helps oversee $13 billion, including Dow shares, at PNC Capital Advisors in Baltimore. ``Dow has set themselves up quite well here for the current economic environment.''
Dow Chemical rose $2.32, or 10 percent, to $24.43 as of 4:15 p.m. in New York Stock Exchange composite trading, the biggest gain since October 2000. The shares have dropped 38 percent this year. Rohm & Haas gained $1.81, or 2.7 percent, to $69.25.
Net income was reduced 9 cents a share by U.S. hurricane damage, 3 cents for purchased in-process research and development and 2 cents for acquisition-related expenses, Dow said. Lost sales from the hurricanes reduced earnings an additional 3 cents. About 80 percent of North American output was shut during the storms, Dow said.
Price Increases
The revenue gain was driven by a 22 percent increase in global prices, Dow said. Sales volumes dropped 9 percent, including declines of 15 percent in North America and 6 percent in Europe.

http://www.bloomberg.com/apps/news?pid=conewsstory&refer=conews&tkr=DOW:US&sid=aMESGy5cBBck

 

[risparmier]

Dow Chemical to slash 5,000 jobs, close 20 plants

December 8, 2008 1:04 PM ET

NEW YORK (AP) - Dow Chemical Co. said Monday it will slash 5,000 full-time jobs — about 11 percent of its total work force — close 20 plants and sell several businesses to rein in costs amid the economic recession.



The company, one of the largest chemical makers in the world, expects the moves to save about $700 million per year by 2010. Dow also will temporarily idle 180 plants and prune 6,000 contractors from its payroll.
Exactly which workers and plants will be affected is still being determined, a company spokesman said.
"We are accelerating the implementation of these measures as the current world economy has deteriorated sharply, and we must adjust ourselves to the severity of this downturn," Chief Executive and Chairman Andrew N. Liveris said in a statement.
Last month, Dow Chemical had said it would review all options to reduce costs and eliminate or defer capital spending.
"We are going to take necessary, bold and proactive measures to manage our transformation through these extremely challenging times," Liveris said at the time.
Due to this latest move, Dow said it will take a fourth-quarter charge of $700 million, or 50 cents to 60 cents per share, to cover $350 million in severance payments and $350 million worth of plant shutdown costs.
But the company said it has no plans to cut its dividend, which has been issued quarterly for nearly a century.

http://news.moneycentral.msn.com/ticker/article.aspx?Feed=AP&Date=20081208&ID=9432700&Symbol=DOW