Diversified results slump, weak conditions expected to linger

Third-quarter earnings at diversified chemicals firms were sharply lower as macroeconomic conditions continued to deteroriate. Solar markets and titanium dioxide (TiOâ‚‚) were notably soft, and demand patterns in Europe and Asia continue to be uncertain, executives say. Acknowledging that these difficult market conditions have staying power, several companies issued disappointing earnings forecasts and introduced cost-saving measures, including jobs cuts ( p. 10). Dow Chemical posted third-quarter net income of $497 million, a 39% decline from the year-ago...

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