Dow Inc. (NYSE:DOW) shares plummeted Thursday after the chemical manufacturer posted a larger-than-expected loss in the second quarter and cut its dividend in half. The company cited persistent macroeconomic pressure, margin compression, and global trade disruptions as reasons for the cutback.
The company reported an adjusted loss of 42 cents per share, wider than Wall Street’s projected 12-cent loss, according to consensus estimates. Revenue fell 7% year over year to $10.104 billion, missing the $10.252 billion estimate.
