Huntsman Corporation (HUN) saw its stock plummet 5.05% in pre-market trading on Friday, following a disappointing second-quarter earnings report and a target price cut by UBS. The chemical manufacturing company's shares faced significant pressure as investors reacted to the negative news.

Huntsman reported a Q2 adjusted loss of $0.20 per diluted share, a stark contrast to the earnings of $0.14 per share in the same period last year. This loss exceeded analysts' expectations of a $0.13 per share loss. Additionally, the company's revenue for the quarter ended June 30 fell to $1.46 billion from $1.57 billion a year earlier, slightly below the $1.49 billion forecasted by analysts.

Adding to the downward pressure, UBS cut its target price for Huntsman from $11 to $10, signaling reduced confidence in the company's near-term prospects. Despite the challenging quarter, Huntsman maintained its quarterly dividend of $0.25 per share, payable on September 30 to stockholders of record as of September 15.