Chemtura Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
So what: No news and shares popped after a gloomy outlook yesterday? That's strange.
What's driving shares today is positive earnings news from chemical makers Cytec Industries (NYS: CYT) and a debt buyback from LyondellBassel (NYS: LYB) . Both popped today, and management made bullish statements about the future.
Now what: Yesterday I said that shares looked like they were trading at an attractive valuation despite cautious comments from management. Now that industry competitors have weighed in with more bullish sentiments, it looks like that's correct and management is just being overly cautious.
The specialty chemicals sector is hot today, and all three of these companies look like they're trading at attractive valuations considering their potential growth.
Interested in more info on Chemtura? Add it to your watchlist byclicking here.
At the time this article was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.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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