Double-Digit Disaster: 10 Big Names Fall Off the Cliff

3. Dow Inc. (NYSE:DOW)

Dow Inc. snapped a three-day winning streak on Thursday, dropping 17.45 percent to close at $25.07 apiece as investor sentiment was dampened by a dismal earnings performance in the second quarter of the year.

In its earnings release, Dow Inc. (NYSE:DOW) swung to a net loss of $801 million from a $458 million net income in the same period last year. It also posted a six-month net loss of $1.09 billion, reversing a $996 million net income in the same period last year.

Net sales similarly declined by 7 percent to $10.1 billion in the second quarter, and by 5 percent to $20.5 billion from $21.68 billion year-on-year.

Further dampening sentiment was the company’s 50-percent drop in dividend per share, now to 35 cents from 70 cents previously.

“We are aligning the payout size to provide additional financial flexibility. Doing so ensures Dow’s ability to prioritize the highest return-generating opportunities, while maintaining a competitive dividend,” said Dow Inc. (NYSE:DOW) Chairman and CEO Jim Fitterling.