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The offering valued Egg at more than $1.4 billionn, or $2.1 billion, half of what analysts were forecasting a few months ago.
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WASHINGTON -- The feeling of high stakes here on Tuesday would have been difficult to forecast a few months ago.
He said in an interview with Thursday's edition of The Wall Street Journal that his company was encountering a stronger headwind than it had forecast a few months back.
But Mr. Bernanke's comments on Wednesday led many strategists to bump up their forecasts a few months to September.
Starting in early 2001, Federal Reserve officials and most Wall Street economists began predicting a quick return to healthy growth, only to repeat the forecast a few months later after they were proved wrong.
After disappointing reports this week on consumer confidence and the sale of big-ticket factory products, Marisa L. DiNatale, an economist with Moody's Analytics, said her firm lowered its forecast for Friday's G.D.P. to 2 percent, 1 percent less than its forecast a few months ago.
The I.M.F. now expects the economy to grow just 0.9 percent, down from a 2.3 percent forecast just a few months ago.
The gloomy forecast, just a few months after it raised £50m to fund expansion plans, sent its shares down by around 7% in early trading.
The European Commission, the executive body of the 27-member E.U., said only last week that the Euro zone was probably heading for a mild recession this year rather than the modest growth forecast just a few months ago.
Growth contracted 6.2 percent in the second quarter and is expected to decline nearly 7 percent this year, far worse than the 4.2 percent forecast just a few months ago by the so-called troika of international lenders: the International Monetary Fund, the European Central Bank and the European Commission.
Economists sharply reduced their forecasts for Germany just a few months ago, and many are now doing so again.
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