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Wednesday, April 7, 2010 as of 11:14 AM ET

John McGlade

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Air Products 2Q Net Falls 2.7% On Lower-Than-Expected Volumes

("Air Products 2Q Net Falls 2.

7% On Lower-Than-Expected Volumes," at 6:48 a.m. EDT, misstated the timing and number of expected job cuts in the third paragraph. The correct version follows:)DOW JONES NEWSWIRESAir Products & Chemicals Inc.'s (APD) fiscal second-quarter earnings fell 2.7% as the industrial gas company saw lower-than-expected volumes in its core businesses, despite improved pricing.Chief Executive John McGlade said business activity didn't pick up as much as expected."With Europe in recession, we have taken actions to improve our business portfolio and cost positions," he added. The company said it planned to cut around 600 jobs, contributing to a cost reduction charge of $86.8 million for the quarter.For the year, the company lowered its guidance, seeing $5.47 to $5.60 a share, down from its January outlook of $5.90 to $6.30 a share. McGlade said business activity was slower than expected going into the second half of the year, reducing both sales and earnings growth. Bu...

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  2. Air Products Makes $7 Billion Hostile Bid for Airgas

    Air Products & Chemicals (APD) unveiled a $7 billion unsolicited takeover bid Friday morning for Airgas (ARG) that would place a hefty premium on Airgas and create t...

  1. Air Products Net Profit Falls Amid Weak Business

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  4. Air Products opens court fight in Airgas deal bid

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  5. Airgas shareholders support Air Products slate

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  6. Air Products Ups Bid for Airgas

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  7. Air Products says FTC signs off on Airgas bid

    (Updates stocks, adds context)By Ernest ScheyderNEW YORK, (Reuters) - Industrial gas producer Air Products and Chemicals Inc said Monday it signed a consent degree w...

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