Out of the Gate: Dow Chemical declines

The stock declined 82 cents to $36.80.

Starting next month, Dow will raise prices by as much as 25 percent, marking the second comprehensive price hike in less than a month.

Dow will also add a freight surcharge for North American customers of $300 per shipment by truck and $600 per shipment by rail, effective Aug. 1.

Chairman and Chief Executive Andrew Liveris, in a statement, said the price increases revealed on May 28 weren't enough to fully cover costs.

Liveris said price increases and lower operating costs at certain production facilities will help boost margins.

"The staggering increases in our costs over the past few months have forced us to take these further measures in order to restore our margins," Liveris said in a statement.