Early Earnings Mixed As Expectations Drift Down

Analysts expect second-quarter earnings at chemical companies to be in line with recently lowered expectations, as recession in Europe and customer destocking is felt throughout the industry. Companies that have reported thus far have seen mixed results. Bunch: Aerospace and auto have held up. “We expect second-quarter earnings will be down 2% compared to a year ago, but improve by 3% sequentially. Among the headwinds are the European recession and the Asian slowdown,” says Frank Mitsch, analyst with...

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