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Dow beats on profit and sales as local prices increased 16%, but stock turns lower

·1 min read
Dow beats on profit and sales as local prices increased 16%, but stock turns lower

Shares of Dow Inc. erased earlier gains of as much as 1.9% to fall 1.0% in premarket trading Thursday, even after the chemicals and specialty materials company reported second-quarter profit and sales that beat expectations, as price increases helped offset COVID-related lockdowns in China, logistics constraints and higher energy and raw material costs. Net income fell to $1.68 billion, or $2.26 a share, from $1.93 billion, or $2.51 a share, in the year-ago period. Local price increased 16%, wit