US earnings estimates revised down

By ALex Ingham, head of US equities at Aberdeeen Asset Management The US market continues to be weighed down by the concerns over earnings quality and corporate malfeasance, the timing and strength of the earnings rebound and economic uncertainty. The problems created by the bankruptcies of Enron and WorldCom and SEC investigations into accounting issues at AOL and Tyco have undermined investor confidence and have led to regulatory and governmental reforms as well as management upheaval. As the US economic recovery falters, so earnings estimates have been revised down for the rest o...