Why Shares of Air Products Are Soaring Today
With shares of Air Products and Chemicals (NYSE: APD) closing lower on Tuesday and Wednesday this week, it seemed that investors were wary of the company's reporting of its third-quarter results. This morning, however, those fears were evidently erased as the producer and distributer of industrial gases reported strong third-quarter earnings before the market opened.
As of 10:42 a.m. ET on Thursday, shares of Air Products are up 11.1%.
Coming up just short of analysts' expectations for revenue of $3.04 billion, Air Products booked sales of $2.99 billion for the quarter, but it appears to be the bottom of the income statement that's providing the catalyst for the stock's rise today.
Source Fool.com
