"Emerson (EMR) could not have been more negative if it tried. The diversified industrial conglomerate basically said things were bad from the get-go and got worse as the quarter went on. It was quite discouraging, especially given the breadth of products that Emerson makes and the wide-ranging use of the products both domestically and worldwide. Plus, just so everyone's clear, Emerson is best of breed. If it is seeing weakness, it isn't because other companies are seeing strength.
It's because there is weakness. Globally."
After a weaker-than-expected February and March, orders in April continued to trend downward, according to the company.
"Economies around the world are struggling for momentum," said Chairman and CEO David Farr. "Demand slowed in the second half of the quarter as overall global business confidence deteriorated. We do not see a catalyst to economic growth over the next six to nine months."