Why Ashland Stock Popped Today

Shares of Ashland (ASH 15.91%) jumped 15.9% on Wednesday after the specialty materials company delivered better-than-feared quarterly results and encouraging forward guidance.Ashland delivers amid improving demand trendsFor its fiscal first quarter of 2024 ended Dec. 31, 2023, Ashland's sales declined 10% year over year to $473 million, translating to adjusted (non-GAAP) net income of$0.45 per share (down from $0.97 per share a year earlier). Analysts, on average, were expecting adjusted earnings of only$ ...