Cabot's Shares Fall After Downgrade

NEW YORK (AP) — Shares of Cabot Corp. fell on Tuesday after an analyst downgraded the shares of the specialty chemicals maker citing demand deterioration.

Shares fell $1.14, or 9.5 percent, to $10.90 on Tuesday.

JP Morgan analyst Jeffrey Zekauskas downgraded Cabot to "underweight" from "neutral," saying the weak auto markets have sent rubber black volumes down 30 percent, while the faltering electronic markets have driven down sales for fumed metal oxide 30 to 35 percent. This contraction in sales volumes could hurt industry pricing, further hurting profitability, he said. ...