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DOW

Dow Inc.

$45.58

1.09 (2.45%)

07:34
08/20/19
08/20
07:34
08/20/19
07:34

Dow Inc. to retrofit Louisiana cracker with FCDh technology to produce propylene

Dow announced it will retrofit proprietary fluidized catalytic dehydrogenation, or FCDh, technology into one of its mixed-feed crackers in Plaquemine, Louisiana, to produce on-purpose propylene. The retrofit will enable Dow to continue to meet growing demand for its businesses serving consumer, infrastructure and packaging end-markets, while also remaining within its stated near-term capital expenditure targets. In 2016, Dow expanded the ethylene capacity of this same cracker by more than 225,000 metric tons and added the ability to crack ethane, while maintaining the flexibility to crack propane, butane and naphtha. Dow and other U.S. cracker operators are consuming more ethane instead of heavier feed slates, resulting in a reduction of coproduct production, including propylene. This reduction in propylene has created a supply/demand gap in the U.S. that requires additional on-purpose propylene sources to meet the needs of downstream derivatives. The FCDh technology retrofit further improves Dow's ability to continue to source the most advantaged feedstocks, while also producing on-purpose propylene to supply its integrated derivative units in Louisiana. The technology can also reduce capital outlay by up to 25% and lower energy usage and greenhouse gas emissions by up to 20%, thereby improving overall sustainability when compared to conventional propane dehydrogenation technologies. The retrofit will enable production of more than 100,000 metric tons of additional on-purpose propylene at full run-rate, further back-integrating Dow's derivative facilities to cost-advantaged propylene while also maintaining the unit's current ethylene production capacity. The project is expected to begin producing on-purpose propylene by the end of 2021.

  • 23

    Sep

  • 24

    Oct

DOW Dow Inc.
$45.58

1.09 (2.45%)

07/31/19
RBCM
07/31/19
DOWNGRADE
Target $56
RBCM
Outperform
Dow Inc. downgraded to Outperform from Top Pick at RBC Capital
RBC Capital analyst Arun Viswanathan downgraded Dow to Outperform and lowered his price target to $56 from $62, citing the "compression in the PU/siloxanes earnings" as well as softer macro conditions. The analyst adds that the company still offers "industry-leading capital return" and organic growth, with 6.2-times his expected 2020 EBITDA multiple seen as "good value".
07/31/19
07/31/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AMD (AMD) downgraded to Hold from Buy at Craig-Hallum with analyst Christian Schwab citing the company's earnings and "disappointing" guidance for the third quarter that missed both his and Street expectations due to lower than anticipated Semicustom revenue expectations. 2. Dow Inc. (DOW) downgraded to Outperform from Top Pick at RBC Capital with analyst Arun Viswanathan citing the "compression in the PU/siloxanes earnings" as well as softer macro conditions. 3. Total (TOT) downgraded to Equal Weight from Overweight at Morgan Stanley. 4. Broadridge (BR) downgraded to Market Perform from Outperform at Raymond James with analyst Patrick O'Shaughnessy saying the risk/reward is balanced at current share levels. 5. T2 Biosystems (TTOO) downgraded to Neutral from Overweight at Cantor Fitzgerald and to Neutral from Buy at Janney Montgomery Scott and H.C. Wainwright. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/16/19
BOFA
08/16/19
DOWNGRADE
BOFA
Underperform
Dow Inc. downgraded to Underperform from Neutral at BofA/Merrill
08/16/19
BOFA
08/16/19
NO CHANGE
BOFA
BofA/Merrill shakes up ratings in chemicals space with 2 upgrades, 4 downgrades
BofA Merrill Lynch analyst Steve Byrne said it appears that risks of U.S. economic contagion from the broader global macro slowdown are "steadily building." Given this view, he has generally moved to be more cautious on the earnings outlook and ratings for stocks with global industrial exposure, resulting in his upgrade of two chemicals stocks and his downgrades of four others. Byrne downgraded Dow Inc. (DOW) to Underperform from Neutral and Westlake Chemical (WLK) to Underperform from Buy, noting their commodity exposure. He downgraded Axalta Coating (AXTA) to Neutral from Buy and cut PPG (PPG) to Underperform from Neutral as he is getting more cautious about their revenue prospects. He upgraded Venator Materials (VNTR) to Buy from Underperform, citing what he views as an attractive risk-reward as he expects earnings will grow in 2020, driven by product upgrades and productivity initiatives. Byrne also upgraded Nutrien (NTR) to Neutral from Underperform as he believes Ag stocks could prove to be defensive plays.

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-0.52 (-3.19%)

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TTEC

TTEC Holdings

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IRBT

iRobot

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TSL

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0.56 (2.58%)

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Solar and wind power 'so cheap they're outgrowing subsidies,' Bloomberg says »

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0.775 (5.37%)

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1.55 (2.36%)

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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LOGM

LogMeln

$68.03

-0.63 (-0.92%)

14:11
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Breaking Periodicals news story on LogMeln »

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BSX

Boston Scientific

$42.86

-0.06 (-0.14%)

, VAR

Varian Medical

$115.91

-1.54 (-1.31%)

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BSX

Boston Scientific

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VAR

Varian Medical

$115.91

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LOGM

LogMeln

$68.03

-0.63 (-0.92%)

14:10
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GE

General Electric

$9.47

0.085 (0.91%)

14:06
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14:06
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Nelson Peltz says GE CEO Larry Culp is 'fantastic,' Reuters reports »

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  • 30

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HIIQ

Health Insurance Innovations

$22.37

1.59 (7.65%)

14:05
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Health Insurance Innovations call volume above normal and directionally bullish »

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STX

Seagate

$52.92

-3.82 (-6.73%)

13:59
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SPY

SPDR S&P 500 ETF Trust

$301.58

0.48 (0.16%)

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AFL

Aflac

$52.71

0.11 (0.21%)

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ZYNE

Zynerba

$8.19

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, GWPH

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WE

We Company

$0.00

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ENS

EnerSys

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EE

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EE

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JPM

JPMorgan

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0.25 (0.21%)

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ADVM

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TDOC

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  • 19

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FANG

Diamondback Energy

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-0.89 (-0.91%)

13:25
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