Traders said many analysts agreed that the charge for asbestos liabilities was a positive sign and reduced the uncertainty surrounding the company.

Halliburton acquired the asbestos liabilities with another company in the late 1990's.

But he warned that investors in Dow should be aware that asbestos liabilities seem only to get worse.

"They will be able to quantify what their asbestos liability could be every year and plan to cover those costs with insurance or earnings."

Two years later, the Denver-based company emerged from bankruptcy court protection, which had been brought on by numerous asbestos liabilities.

A buyer of the company under those terms would be taking on a huge asbestos liability that would have to be paid immediately.

Earnings, excluding a $188 million charge to cover asbestos liabilities, hit $100.9 million.

They filed bankruptcy because of all their asbestos liabilities.

There were asbestos liabilities, which ended up forcing some Halliburton units into bankruptcy and cost the parent company billions.

This was part of a strategy to separate the company from the stigma of its asbestos liabilities.