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DuPont Lowers Guidnace

Submitted by Todd Sullivan on Tue, 01/27/2009 - 18:27.
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DuPont

Expect the whole chemical sector, DuPont (NYSE:DD), Dow Chemical (NYSE:DOW) and BASF (OTC:BASFY)

 DuPont lowered its 2009 earnings view after swinging to a $629 million, or 70 cents a share, fourth-quarter loss. Revenue slumped to $6.08 billion from $7.21 billion, with the firm citing declines in construction, motor vehicle sales and consumer spending as well as inventory destocking. On an adjusted basis, DuPont lost 28 cents a share. Analysts polled by FactSet were looking for a loss of 20 cents a share on revenue of $6.1 billion. DuPont lowered its view to 2009 to earnings per share between $2 and $2.50 a share, against earlier views between $2.25 and $2.75 a share. Analysts were expecting earnings of $2.22 in 2009.

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