Dow Chemical Shares Plunge 9% (DOW)

Shares of Dow Chemical Company DOW are currently down 9% at $25.74 per share during Tuesday afternoon trading. Today's trading range for shares of Dow Chemical Company has been between $25.32 and $26.58 per share. The consensus price target of analysts covering the company's stock is $34.20 per share. Volume of 31.9 million shares is more than double the daily average volume of 13.1 million shares. Dow Chemical Company (DOW) released financial results on Tuesday morning that missed Wall Street estimates. Dow Chemical Company reported 2nd quarter adjusted earnings of 54 cents per share, on revenue of $13.6 billion. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 56 cents per share, on revenue of $13.69 billion. Chairman and chief executive officer Andrew N. Liveris said, "Over these last 15 months, we have seamlessly integrated Rohm and Haas, launched our Advanced Materials Division and continue to make progress on our strategic agenda – the latest example being the signed definitive agreement for our new chlor-alkali joint venture. This bolsters Dow’s integration strength for our downstream performance businesses at a lower cost and with less capital outlays. We also completed the divestment of Styron and have now exceeded our goal of divesting $5 billion in non-strategic assets in less than two years. With the proceeds of these divestments and positive operating cash flows, we made further meaningful progress in strengthening our balance sheet. These actions, coupled with our performance over this last quarter, clearly demonstrate that our strategy is on course and continues to deliver results." Read more from Benzinga's Company news.