Wall Street

Online Stock Market Trading Dow Chemical Co.'s (DOW.N) quarterly profit rose sixfold on robust sales of farm chemicals and plastics, but high energy costs and worries over Chinese demand clouded the future of the leading U.S. chemicals maker.

Owned by the Dow Chemical Company, the two firms said the move is designed to align their business growth strategies with direct market and customer focus.

Stock Investing Course Despite its strong results, Dow's stock fell for the second day in a row, ending down more than 3 percent.

Strong earnings reports from two bellwether stocks gave penny stock investors hope that rising interest rates wouldn't kill profits. off, said one economist was "just turbulence." The turbulence, it seems, is continuing on this side of the pond. U.S. stocks traded flat to lower Thursday as the market took a breather as higher oil prices and downbeat economic data curbed Wall Street's momentum. So, what are we to believe, is the market heading up...or heading down

Stock Market Game Dow, whose products are found in everything from plastic bags to auto parts, also said it expects to cut about 3,000 jobs this year. The 7 percent work force reduction follows last year's roughly 3,500 job cuts, which helped hold down costs before the economic rebound.

Dow markets membranes under the name of Filmtec and controls maybe 90% of the domestic market. They also sell the fabric to "rollers" who convert it into membranes of various sizes. Applied Membranes is a converter of Dow Chemical Filmtec fabric. They are the biggest in the World (that I am aware of) in the domestic markets.

Stock Investing Game The Midland, Michigan-based company blamed the latest cuts on historically high energy costs, which increased $400 million from the fourth quarter, more than Dow expected.

Hair care, Culver Co. quarter profit rose nearly 16 percent thanks to the retail launch of its Nexxus brand and strong sales of its Tresemme hair care items.

Journal Prime Rate Street Wall ``Energy costs continue to remain a critical issue for the chemical industry and for Dow, and managing them successfully is a priority,'' said J. Pedro Reinhard, Dow's chief financial officer.

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Stock Market News Still, Dow posted first-quarter net income of $469 million, or 50 cents per share, compared with $76 million, or 8 cents a share, a year earlier.

Stock Investing Basics Revenue rose 15 percent to $9.31 billion as volumes climbed 7 percent. Prices increased 8 percent, more than offsetting a nearly $100 million increase in raw material and energy costs above the very high levels of a year ago.

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Stock Market Trading ``Dow confirms that the industrial recovery is under way,'' said Michael Barr, analyst with Victory Capital Management, which manages $47 billion in assets, including Dow shares.

Stock Investing For Dummy The big question is whether Dow's sales volume can continue at its current pace a year from now, further into the expansion, when growth comparisons get tougher, Barr said.

Stock Market Crash ``That's what investors are really going to have to decide on,'' he said. ``These stocks are getting toward the expensive side.''

Stock Investing Tip Dow's stock hit a 52-week high of $44.21 on March 1.

Stock Market Chart But shares of raw material stocks, such as Dow, have fallen the last two days on worries that credit restrictions in China could cool its economy and cut into strong demand for steel, chemicals, copper and other metals that has helped underpin the profits of many companies.

Online Stock Investing The world's most populous nation represents a huge market for U.S. chemical producers, which export $5 billion of products there.

Stock Market Crash Of Dow shares closed down $1.25, or 3.05 percent, at $39.67, on the New York Stock Exchange.

Stock Investing For Beginner Even with the China concerns, global economic growth has sparked a recovery in chemicals, with increased demand from builders, chipmakers and auto companies giving producers leverage to raise prices.

Finance Journal Personal Sales of plastics for autos, food packaging and other consumer goods increased 17 percent, boosted by car makers in Europe.

Stock Market Report In Dow's seeds and farm chemicals division, a strong springtime planting season lifted sales 20 percent, especially in insect control products and herbicides. Volume growth was led by sales in Latin America and Europe.

Finance Investing Stock Market Dow's jump in quarterly profits echoed the impressive results earlier this week by No. 2 U.S. chemicals maker DuPont Co. (DD.N).

Wall Street Journal Com ``While volume gains make us more confident that industry conditions are improving, one must be mindful that historically high levels of feedstock and energy costs are still an issue,'' said Dow's Reinhard.

Stock Market Investing Advice Reuters - 4/29/2004

Topic: Toxics

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