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-0.000265674814027577 -0.0010626992561105 0 0.000531349628055343 -0.00185972369819342 -0.002125398512221 -0.00371944739638684 -0.00371944739638684
Stock impact report

BofA downgrades U.S. chemical sector amid slowdown [Yahoo! Finance]

Element Solutions Inc. (ESI) 
Last element solutions inc. earnings: 4/30 07:00 am Check Earnings Report
US:NYSE Investor Relations: ittesi.com
Company Research Source: Yahoo! Finance
The sector is down 15% year-to-date, underperforming the S&P 500 by roughly 7%, with much of that gap emerging since early April. Weakening global trade and cyclical demand are key drivers of underperformance, and analysts warn of lower degree of confidence than normal in earnings forecasts. Though BofA upgraded Westlake and Element Solutions (NYSE:ESI) to “Buy,” and Archer Daniels Midland (NYSE:ADM) and DuPont (NYSE:DD) to “Neutral,” while downgrading Air Products (NYSE:APD) and Dow to “Underperform,” and PPG (WA:IBSP), Huntsman (NYSE:HUN), and Green Plains (NASDAQ:GPRE) to “Neutral.” While many sectors are contending with U.S. import tariffs, BofA noted the chemical sector is facing pressure from retaliatory trade actions, including China's 125% tariff on U.S. crops. U.S. petrochemicals, particularly polyethylene and PVC, also rely heavily on exports. The sector's primary challenge is lower demand and pricing, rather than cost inflation, the analysts wrote, adding that ener Show less Read more
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