Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Merrill Cuts Ratings on DuPont and PPG Industries

Merrill Lynch downgraded select chemical companies including DuPont (DD).

Merrill cut DuPont, PPG Industries (PPG), and Lyondell Chemical (LYO) to near-term neutral from buy. Merrill also downgraded Rohm & Haas (ROH) to near-term reduce from neutral.

Analyst Donald Carson says these stocks have already priced in an improved U.S. and global economic outlook. While first quarter EPS is shaping up ahead of low estimates (except for Lyondell), surging energy and higher raw material costs increase the likelihood that EPS will disappoint later in 2002. Carson says the macro outlook presents a Catch-22 for most major chemical stocks. Rising energy prices and weak corporate profits could delay or weaken an economic recovery, while the continuing stronger-than-expected recovery could lead to rising interest rates and investors' rotation to growth sectors.

blog comments powered by Disqus