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Cytec Sees Fourth-Quarter Net Below Views

Cytec Industries

(ATR) - Get Aptargroup, Inc. Report

warned that its fourth-quarter earnings would be up to 50% lower than expected, due to softening demand for its products.

The chemicals and materials maker now expects earnings per share of 15 cents to 20 cents, down from the previous guidance of 25 cents to 30 cents. Analysts had been expecting 25 cents, according to Thomson Financial/First Call.

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Shares of Cytec Industries closed down 13 cents to $26.89 Tuesday on the New York Stock Exchange.