Eastman Chemical Company EMN and its partner Insignia Group LC have declared the launch of the second generation LLumar window film viewer. The viewer is the first entirely mobile-friendly window tint visual configurator in the industry.
The two companies aim at catering to the consumers’ evolving needs and push the specialty equipment and Vehicle Personalization industry forward. Research confirmed that a large number of customers research window tint on mobile devices. The second generation LLumar window film will help mobile users see the look of their vehicles.
Last year, Insignia launched the window film viewer as a custom tool for LLumar’s website, using the company’s own software and patented process. The features of the new film viewer are part of the bigger vehicle-to-accessory visual configurator redesign already being developed. The new design will roll out in the fall of 2016.
Shares of Eastman Chemical gained 1.2% to close at $64.74 on Sep 15.
Eastman Chemical saw lower profits in second-quarter 2016 due to softer pricing. Adjusted earnings of $1.68 per share as well as revenues of $2,297 million missed the Zacks Consensus Estimate. The company’s cash and cash equivalents, and long term debt fell 10% and 7% year over year, respectively.
Eastman Chemical said that it is benefiting from the strong growth in its specialty products and from its cost-cutting actions. However, the company is witnessing increased competitive pressure, especially from the Asia Pacific region, and compressing olefin spreads. As such, it projects a 10% decline in adjusted earnings per share for 2016 from the prior-year figure, compared with its earlier expectation of a decline of roughly 5%.
Eastman Chemical currently holds a Zacks Rank #4 (Sell).
Some better-ranked companies in the chemical space include Innospec Inc. IOSP, Stepan Company SCL and Innophos Holdings Inc IPHS, all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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