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News
Dow Chemical warns
September 21, 2001: 9:21 a.m. ET

Company cites overall economic weakness for bringing 3Q results lower
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NEW YORK (CNNfn) - Dow Chemical Co. said Friday it will not meet its third-quarter earnings estimates of 25 cents to 35 cents a share, citing overall weak economic conditions.

Dow (DOW: Research, Estimates), the nation's No. 2 chemical company which is set to report results Oct. 25, also said increased demand in September will not materialize as previously forecast, hurting third-quarter results.

The company's stock fell 96 cents at $29.58 Thursday.

On July 26, the company reported sharply lower second-quarter results, beating expectations. At that time Dow made its third-quarter forecast of 25 to 30 cents a share, saying then that economic conditions in North America appeared to be stabilizing.

However, the economy has continued to slide with ongoing layoffs, particularly in manufacturing, and lower consumer confidence, particularly after last week's terrorist attacks on the World Trade Center and the Pentagon. graphic

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