Why Olin Is Jumping 13% Higher Today
Shares of Olin (NYSE: OLN) were rising 14% in late afternoon trading Thursday after the company reported third-quarter earnings that beat analyst expectations on the top and bottom lines.
The specialty chemicals and ammunition maker actually saw sales and profits fall year over year. Business improved across the board from the second quarter, particularly in the important chlor alkali and vinyl business, which represents over 52% of total revenue. Epoxy sales, accounting for a third of the total, were down 7% on lower prices and volumes.
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Source Fool.com
