Why Olin Corp Stock Dropped Today
Olin took a big bath in Q2, but it's not yet clear how much of its loss is "real."
Overview
Shares of chemicals-and-ammunition-maker Olin Corp (NYSE: OLN), soon to merge with Huntsman (NYSE: HUN), tumbled 17.8% through 11:35 a.m. ET Friday after missing earnings last night.
Heading into the report, analysts forecast Olin would earn $0.12 per share on sales of $1.8 billion. Sales came up short at $1.7 billion, though, and instead of reporting a 12-cent profit, Olin reported a loss of $0.12 per share.
Details
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Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.