Read the "special call" article on Seeking Alpha. New EU accounting standards will affect 2013 results as will the new pension IAS 18. In addition, BASF SE reported lower earnings for 2012 at the end of February. I also think the announcement that splits one business group into two may have a negative effect through added overhead although the management touts it as a good business decision. If you follow this ADS, it tracks with a euro conversion price with DE: BASF (Frankfurt). If the dollar strengthens against the Euro, the pink sheet ADS price will decrease accordingly. Conversion rates lately have been fairly stable between 1.27 to 1.31US = 1 Euro dollar.