Celanese Corporation (CE) saw its stock surge 6.35% in early trading on Tuesday, building on its pre-market momentum following a series of positive announcements that have bolstered investor confidence. The specialty chemicals maker reported better-than-expected first-quarter earnings, unveiled strategic plans to streamline its business operations, and received an analyst upgrade.

Celanese's first-quarter adjusted earnings came in at $0.57 per share, significantly surpassing analysts' estimates of $0.38 per share. Despite an 8.5% year-over-year decline in revenue to $2.39 billion, the company still managed to beat the consensus estimate of $2.25 billion. This impressive performance was largely attributed to successful cost-cutting measures, which helped offset lower sales in a challenging market environment.

In a strategic move, Celanese announced plans to spin off its electronics segment, Micromax, which supplies electronic inks and pastes for high-performance electronics. The segment is expected to generate over $300 million in revenue in 2025. Additionally, the company revealed plans to increase prices for its engineered materials, effective June 1, 2025, which could potentially boost future revenues. Further supporting the stock's upward movement, Mizuho raised its target price for Celanese from $45 to $50, reflecting increased confidence in the company's outlook. The combination of strong quarterly results, strategic restructuring, proactive pricing measures, and positive analyst sentiment has resonated well with investors, driving the stock's impressive rally during the trading session.