This post is a cliche.
Elementis is a specialty chemical company which makes rheology modifiers (go on – look it up).
The company has two customer groups that are problematic – oil drillers and ship painters.
They provide additives for oil drilling mud to allow difficult drilling. And they supply additives to paints to change their technical characteristics – which have their most profitable use in painting ships.
Both shipping and oil drilling have been difficult.
The company has had six straight profit warnings. Elementis never became unprofitable – just less profitable.
Today Elementis put out an utterly uneventful trading update.
And the stock rose ten percent.
When you have had six profit warnings no news is good news.