By Euan Rocha

The slump in the U.S. housing and automotive markets has hurt DuPont and Celanese, as both companies manufacture a range of products that are used in the construction and automotive sectors.

Strong demand growth in Asia has buoyed both companies in recent quarters, but DuPont and Celanese acknowledged that Asia is being affected by the turmoil in global financial markets and growth in the region is showing signs of slowing down.

Shares of DuPont fell 6.5 percent to $33.82 in morning trade, while those of Celanese fell 25 percent to $14.80 on the New York Stock Exchange.

DuPont posted third-quarter net income of $367 million, or 40 cents a share, down from $526 million, or 56 cents a share, a year earlier.

Excluding a charge for plant damage, lost inventory and other problems from hurricanes, the company earned 56 cents a share, down from 59 cents a year earlier. Wall Street was expecting earnings of 51 cents.

"HURRICANE EFFECTS"

"DuPont saw substantial weakness in North America, exacerbated by the hurricane effects this quarter. This was offset by strength again in (its agricultural segment) and some of the overseas markets," said Morningstar analyst Ben Johnson.

DuPont's revenue rose 9.3 percent to $7.3 billion, largely because of higher pricing in all regions. Analysts, on average, had forecast revenue of $7.07 billion, according to Reuters Estimates.

DuPont lowered its full-year earnings outlook to $3.25 to $3.30 per share. It previously had forecast $3.45 to $3.55, and Wall Street had been expecting $3.49.

Its rival, Celanese, posted third-quarter net income of $158 million, or 97 cents a share, up from a year-ago profit of $128 million, or 76 cents a share.

Excluding items, quarterly earnings were 78 cents a share, up from 73 cents a share, a year earlier.

Quarterly revenue rose 15.9 percent to $1.82 billion.

Analysts, on average, had forecast earnings of 77 cents a share on revenue of $1.70 billion, according to Reuters Estimates.

Celanese said it expects the economic slowdown in North America and Europe to continue and also sees signs of slowing growth in Asia linked to the global credit crisis.

Excluding items, the company now expects full-year 2008 earnings of $3.40 to $3.55 a share, down from a prior forecast of $3.60 to $3.85 a share. Wall Street had been expecting earnings of $3.82 a share.

Goldman Sachs analyst Edlain Rodriguez said that Celanese's outlook was disappointing, adding that the company's large Asian exposure, which has been a source of strength, is showing signs of cracking.

"Celanese is exposed to all aspects of the Chinese economy, and both the export-oriented markets and the internal markets are being hit. Business activity has slowed significantly as customers de-stock inventories in anticipation of lower prices and lower demand," said Rodriguez in a note to clients.

(Editing by Dave Zimmerman and Brian Moss)