Airgas' (ARG -5%) Q4 sales and profit warning is dragging a few peers down with it this morning: Air Products (APD -2%), Praxair (PX -1.4%), Sinopec Shanghai Petrochemical (SHI -1.4%), L'Air Liquide (AIQUY.PK -3.3%.
Praxair (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.
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.