On October 19, PPG Industries, Inc. (NYSE:PPG), the second-largest player in the global coatings industry (slide 23), presented its Q3 results, beating on the Wall Street revenue and EPS consensus estimates, as it appears the pundits were too bearish on the demand and underestimated the tailwinds from the trends in the DIY architectural coatings market in North America and the EMEA.

The response from traders was lukewarm. During the days that followed, the share price performance was soft: the price has retreated to the level previously seen in early October.

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