Why Ashland Stock Fell Today

Volumes are flat, but profitability is heading in the right direction.Basic materials provider Ashland (ASH -0.87%) had a solid quarter but trimmed its full-year estimates in response to its portfolio optimization efforts. Investors weren't sure what to think, sending Ashland shares down as much as 5.2% Wednesday before the stock recovered to trade down slightly heading into the close.Mixed results in a tough operating environmentAshland earned $1.27 per share on revenue of $575 million in its fiscal second ...