Diversified Earnings Reflect Growing Headwinds

Recessionary conditions in Europe and moderating growth in China sent second-quarter earnings reports sharply lower for many companies. Executives expect conditions to remain challenging in the latter half of the year. Agriculture and North American olefins remained bright spots, but most companies posted lower sales and earnings across the rest of their businesses. Results for the most part met analysts’ consensus estimates, many of which had been lowered in recent weeks. “The new reality is that this world is not in a normal growth mode,” says...

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