October 9, 2012
Shares of Ashland (NYSE: ASH ) dropped more than 3% yesterday following Monday's downgrade by JPMorgan. Ashland is a specialty lubricants company, well known for its line of Valvoline motor oil products. The downgrade comes on the heels of ExxonMobil's (NYSE: XOM ) announced plan to pump more than $200 million into a specialty chemical plant based in New Orleans. The increased production will likely contribute directly to Exxon's own line of motor oils, upping competition in a major way for Ashland's Valvoline products. Fool.com analyst Taylor Muckerman covers the full story in the video segment above.
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