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Dow Chemical Jumps 3% Following Q4 Report

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Shares of Dow Chemical Co (NYSE: DOW) gained more than 3 percent early Tuesday morning after the company reported its fourth quarter results.

Dow Chemical earned $0.93 per share in the fourth quarter on revenue of $11.4 billion. Wall Street analysts were expecting the company to earn $0.70 per share on revenue of $11.2 billion.

Dow Chemical noted that certain items in the fourth quarter reflected a $1.96 per share gain from the split of its Dow Chlorine Products, a $0.52 per share gain related to the sale of the company's ownership stake in MEGlobal and an $0.11 per share charge for asset impairments and related costs.

Volume rose 4 percent during the quarter (excluding the impact of divestitures and acquisitions), representing the ninth consecutive quarter of growth on a year-over-year basis. The company saw volume gains in all regions, led by Asia Pacific (up 8 percent), North America (up 6 percent) and Emerging Regions (5 percent), Greater China (up 10 percent).

"The global economy continues to be volatile with consistent demand being driven by the consumer, especially in the U.S. and increasingly from China,"Andrew N. Liveris, Dow's chairman and chief executive officer, stated. We believe low energy prices are a net benefit and will help overcome negative investment sentiment in other sectors. We have the portfolio that serves these consumer-driven markets, and our company remains committed to flawless operational and commercial execution."

 

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