Recent Downgrade Presses 1 Stock Lower
Shares of Ashland (NYS: ASH) dropped more than 3% yesterday following Monday's downgrade by JPMorgan. Ashland is a specialty lubricants company, well known for its line of Valvoline motor oil products. The downgrade comes on the heels of ExxonMobil's (NYS: XOM) announced plan to pump more than $200 million into a specialty chemical plant based in New Orleans. The increased production will likely contribute directly to Exxon's own line of motor oils, upping competition in a major way for Ashland's Valvoline products. Fool.com analyst Taylor Muckerman covers the full story in the video segment above.
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The article Recent Downgrade Presses 1 Stock Lower originally appeared on Fool.com.Joel South has no positions in the stocks mentioned above. Taylor Muckerman has no positions in the stocks mentioned above. The Motley Fool owns shares of ExxonMobil. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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