Chemicals maker Celanese's dour profit forecast sends shares tumbling
1. Celanese forecasts Q3 profit below estimates, citing reduced demand. 2. Shares dropped 14.6% in after-hours trading.
FAQ
Why Very Bearish?
Celanese's profit forecast signals significant deterioration in demand, reminiscent of prior downturns in Q3 profitability historically facing similar market conditions.
How important is it?
The forecast directly impacts investor sentiment and market positioning for CE, especially given the sizable post-announcement price drop.
Why Short Term?
The immediate market reaction indicates a swift decline likely due to poor near-term outlook, which could stabilize post Q3 reporting.