Analyst Lowers Earnings Estimates for Ten U.S. Chemical Companies

Deutsche Bank (New York) lowered earnings estimates for 2012 and 2013 by 5% on average, citing deteriorating demand trends and slowing global growth. Estimates were lowered for ten companies U.S. chemical companies, including Dow Chemical and DuPont. Chemical demand softened in the second quarter due to macroeconomic headwinds in Europe and slowing growth in Asia, notably China, says analyst David Begleiter. Falling energy and feedstock prices also led to destocking, he adds. Stable oil prices should end destocking shortly, but earnings improvements in the second...

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