Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of chemical maker Huntsman
So what: Higher prices helped Huntsman's revenue jump 24% to $2.98 billion despite a slight drop in demand. Adjusted earnings per share reached $0.45, $0.02 ahead of estimates despite a $17 million hit from a strong Swiss franc.
Now what: CEO Peter Huntsman has a bullish view on the future of the U.S. economy, and his optimism might have helped goose the shares. I wouldn't be too concerned about the drop in volume as customers lower inventory due to uncertain demand and higher prices. I think chemical makers sit in a strong position since most have been able to raise prices, which will lead to more profit in the long run.
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