UPDATE: Dow Chemical Posts Higher Q1 Profit

Dow Chemical Co DOW reported a rise in its first-quarter net income. Dow Chemical's quarterly profit climbed to $550 million, or $0.46 per share, versus $412 million, or $0.35 per share, in the year-ago period. Its adjusted earnings came in at $0.69 per share. Its net sales declined to $14.4 billion from $14.7 billion. However, analysts were estimating earnings of $0.61 per share on revenue of $14.84 billion. Dow Chemical shares gained 3.51% to $33.30 in pre-market trading.