Diversified Earnings Mixed; Trends Signal Improvement

First-quarter earnings reports at diversified, commodity, and industrial gases firms showed mixed results, as increasing stability in U.S. markets and industrial segments were offset by tepid conditions in Europe. Several firms beat analysts’ lowered estimates, and boosted their full-year earnings outlook, while others posted lower-than-expected earnings and began emphasizing cost management. Most companies expect the pace of the global economic recovery to accelerate in the latter half of the year. The quarter “played out as we anticipated...with...

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