Your email has been successfully added to our mailing list.

×
0.000155057839035097 -0.000246123554024071 -0.000492247108048317 -0.000984494216096459 -0.0034457297563377 -0.00319960620231362 -0.00319960620231362 -0.000123061777012123
Stock impact report

Bank of America downgrades US chemical stocks following price rally [Yahoo! Finance]

Dow Inc. (DOW) 
Last dow inc. earnings: 4/30 06:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
Bank of America has downgraded its ratings for three major US chemical companies, citing concerns that recent share price gains may not be sustainable. The investment bank lowered Dow Inc (NYSE:DOW) and LyondellBasell Industries NV (NYSE:LYB) to ‘Underperform,' while Westlake Chemical (NYSE:WLK) was downgraded to ‘Neutral.' The move comes after a significant year-to-date rally, with stock prices for the companies rising 60% to 80%. Bank of America noted that the recent price gains were partly driven by market factors linked to the ongoing conflict in Iran, which it described as “unsustainable tailwinds.” The analysts believe that as markets normalize, fundamentals, including oversupply and downward pressure on petrochemical prices, are likely to come back into focus, potentially weighing on shares. Despite the downgrades, the bank has raised earnings forecasts for all three companies to reflect current market conditions and a higher energy price backdrop. Price targets we Show less Read more
Impact Snapshot
Event Time:
DOW
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison Updated
Event Day
Stock performance from the time of news release until the following 4pm ET market close
Last price at news event
Since Event
Multi-day stock performance from the time of the news release
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST
PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
Last Price
VWAP
High:
Max Up
High:
Low:
Max Down
Low:
%
Post news range
%
Price change

Price Change Percentage


S&P 500
(SPX)

%

Volume ratio
%

Volume
Ticks

Avg transaction size

Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Opt-in for DOW alerts
Opt-in for
DOW alerts

from News Quantified
Opt-in for
DOW alerts

from News Quantified