Update du Pont (DD)
On January 26 E.I. du Pont de Nemours (DD), known as du Pont to its friends, announced fourth quarter earnings of 44 cents a share, beating Wall Street projections by 3 cents a share. Revenues climbed 10.3% year to year to $6.42 billion. Wall Street analysts had been expecting $6.16 billion.
Sales volumes for all regions of the world were up 10% and sales in the Asia/Pacific region climbed 34% by volume from the fourth quarter of 2008 on strong demand from China, Japan, Korea, and India. Asia/Pacific sales now exceed pre-recession volumes. For more on why this point in the economic cycle is so good for industrial stocks see my post http://jubakpicks.com/2010/01/26/for-after-the-correction-think-industrial-stocks-market-history-says-this-is-their-time/ )
