Specialty chemical and materials manufacturer Cytec Industries (CYT +1%) trades up this morning,...
Friday, October 19, 2012, 12:00 PM ETSpecialty chemical and materials manufacturer Cytec Industries (CYT +1%) trades up this morning, bucking a disappointing Q3 earning result late yesterday. Despite the miss, earnings were strong, with net income rising 11% Y/Y on strength from acquisitions and solid sales in two of its three business segments. The company also raised its Q4 earnings guidance range, now expecting an FY12 adjusted EPS of $2.84 - $3.03. This number includes a tax benefit however, and thus may not be comparable to the Street estimate of $2.90.
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