10 Stocks Losing Their Fire

5. LyondellBasell Industries NV (NYSE:LYB)

LyondellBasell extended its losing streak to a fourth straight day on Thursday, losing 6.24 percent to close at $43.16 apiece as investors unloaded portfolios following the ex-dividend and record dates to receive its next quarterly dividends.

At intra-day trade, the stock fell by as much as 6.7 percent.

On Monday, December 8, shareholders of LyondellBasell Industries NV (NYSE:LYB) as of December 1 record would be able to receive $1.37 per share of dividends.

The dividends followed the results of its earnings performance in the third quarter of the year. During the period, LyondellBasell Industries NV (NYSE:LYB) swung to a net loss of $890 million from a $573 million net income in the same period last year, primarily dragged by $1.2 billion of identified items such as non-cash asset write-downs, costs incurred for transactions, the Cash Improvement Plan, and discontinued operations.

Sales and other operating revenues also declined by 10 percent to $7.727 billion from $8.604 billion in the same period last year.

“LYB continues to navigate a challenging market environment while remaining focused on delivering long-term value,” LyondellBasell Industries NV (NYSE:LYB) CEO Peter Vanacker said.

“Our Cash Improvement Plan is on track to achieve our $600 million target in 2025 and a minimum of $1.1 billion by the end of 2026, by reducing fixed costs, managing working capital, and optimizing capital investment to strengthen free cash flow,” he added.