DuPont increases 2008 earning expectations; shares up 4 percent

DuPont, a chemical maker, increased its 2008 earnings forecast amid good position in emerging markets, agriculture and nutrition segment. Its shares were up 4 percent in premarket trading.

Photo: DuPont increases 2008 earning expectations; shares up 4 percent

The company’s 4-quarter results beat expectations. DuPont expects to report 2007 profit growth of 11 percent or more.

Its shares are predicted to be up from $3.15 to $3.20.

DuPont is currently the world's second largest chemical company in terms of market capitalization and fourth  in revenue. Its stock price is also a component of the Dow Jones Industrial Average.

In the twentieth century, DuPont led the polymer revolution by developing many highly successful materials such as Vespel, neoprene, nylon, Corian, Teflon, Mylar, Kevlar, Zemdrain, M5 fiber, Nomex, Tyvek and Lycra. DuPont has also been significantly involved in the refrigerant industry, developing and producing the Freon  series and later, more environmentally friendly refrigerants. In the paint and pigment industry, it has created synthetic pigments and paints, such as ChromaFlair.

DuPont is often successful in popularizing the brands of its material products such that their trademark names become more commonly used than the generic or chemical word(s) for the material itself. One example is “neoprene”, which was intended originally to be a trademark but quickly came into common usage.

Source: agencies