Huntsman Posts Loss
Huntsman posted a wider-than-expected quarterly loss, hurt by decreased demand in all of its businesses. Net loss for the Q1 was $290 million compared with net income of $7 million a year earlier. Revenue fell 33 % to $1.69 billion and missed analysts' average forecast of $2.17 billion. Huntsman, which recently terminated a $6.5 billion pact to be acquired by Apollo Management's Hexion Specialty Chemicals, said it intends to reduce its full-time workforce by about 1,250 positions, or nearly 10 %.