Dow forecasts quarterly core profit slightly above estimates, warns of Middle East uncertainty

US chemicals maker Dow reported an adjusted profit of $1.44 per share for the quarter ended June 30, beating analyst estimates of $1.28, while forecasting current-quarter core earnings of about $1.75 billion slightly above the $1.74 billion consensus. Shares rose 2.2 percent in morning trading as packaging and specialty plastics net sales jumped 27 percent to $6.4 billion on higher polyethylene prices. The company warned of Middle East uncertainty after the near shutdown of the Strait of Hormuz disrupted oil and petrochemical flows.