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As the year progresses, they revise down their forecasts to reflect guidance from corporate executives.
Analyst Jerome Samuel said: We are cutting forecasts to reflect ongoing concerns in Europe and Ireland, particularly.
See articleThe OECD revised its growth forecasts to reflect a moderately better outlook in rich countries and the "widespread loss of momentum" in emerging markets.
We trim our operational forecasts to reflect the risks of sequestration [US military budget cuts] but lower tax and a three year £1bn buyback drives small upgrades to earnings per share.
"Not many analysts are willing to go out on a limb and upgrade their earnings forecasts to reflect the historical level of inaccuracy.
This narrowly exceeded expectations and experts are now scrambling to revise second-half forecasts to reflect a growth rate that will likely exceed China's 8% targeted rate.
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JDS changed its forecast to reflect "uncertain carrier capital spending prospects".
Williams-Sonoma raised its full-year forecast to reflect the better-than-expected second quarter, but left its outlook for the second half of the year unchanged.
Insurers like the American International Group rallied after the Everest Re Group, a reinsurer, increased its 2003 profit forecast to reflect a jump in sales.
The company raised its full-year profit forecast to reflect a recent licensing agreement with the Coca-Cola Company, but it lowered its sales outlook.
The committee revised its quarterly, three-year forecast to reflect a greater degree of optimism about the economy than it had in January.
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