Fri, May 15, 11:18 AM
- Praxair (PX +1.6%) says it is raising prices by up to 20% for customers in North America, citing rising operational costs for its industrial gases and other products.
- Effective June 1, PX is boosting argon and hydrogen prices up to 20%, while nitrogen, oxygen and carbon dioxide prices, as well as facility fees and cylinder rental rates, will rise up to 15%.
- PX and rival Air Products (APD +0.7%) have warned that adverse foreign exchange rates and lower commodity prices would continue to pressure sales.
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Jan. 25, 2012, 1:12 PMPraxair (PX -3.8%) trades lower after posting a mixed Q4, despite a surge in Y/Y earnings and unveiling a $1.5B buyback program. Most of the impact comes from its cautious guidance as the company forecasts a downbeat 2012 due to negative currency impact, now expecting a profit of $1.33 - $1.38 for the year, below analysts estimates of $1.41. | Comment!
PX vs. ETF Alternatives
Praxair Inc is engaged in the production, distribution, and sale of atmospheric and process gases, and surface coatings in North America, Europe, South America, and Asia. Its products include oxygen, helium, nitrogen, and specialty gases, among others.
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