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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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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.