Chemtura expects 2Q revenue to miss Street's view

Chemtura anticipates 2nd-quarter revenue will fall short of Wall Street's expectations

Associated Press

PHILADELPHIA (AP) -- Chemtura says its second-quarter revenue will miss Wall Street's expectations.

The specialty chemicals company expects revenue of $735 million for the period ended June 30. That compares with $741 million in revenue a year ago.

Analysts polled by FactSet predicted revenue of $739.4 million.

Chemtura Corp. expects to report its full financial results for the second quarter on July 30.

The company also announced an offering of $400 million senior notes due 2021. Chemtura plans to use the proceeds to pay for $455 million outstanding senior notes due 2018, as well as related fees and expenses.

Shares of the Philadelphia company rose 66 cents, or 3 percent, to $23.01 in Thursday afternoon trading. The stock has traded in a 52-week range of $12.55 to $24.51.

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