Gregory Milzcik posts

Feed

Barnes withdraws its full-year earnings forecast

Yesterday afternoon, Barnes Group Inc. (NYSE: B) announced that it is withdrawing its 2009 earnings guidance thanks to uncertainty in the transportation sector. In May, Barnes forecast earnings of $1.20 to $1.35 per share -- better than the consensus estimate of $1.19 per share. Barnes did not update its estimate when making the announcement.

The company stated that problems in transportation sectors (like the automotive industry, which comprises one third of the company's revenue) have made predicting the rest of the year very difficult. Barnes' CEO Gregory Milzcik noted, "Challenging industry conditions, evidenced by customer plant closures, reduced customer production schedules, and overall uncertainty in the automotive market driven by bankruptcies and the cascading effect on suppliers, have obscured our visibility for the coming months."

Continue reading Barnes withdraws its full-year earnings forecast

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 11, 2012: 11:11 PM

Hot Stocks

General Electric

18.875-0.255(-1.33)

Alcoa

10.29-0.35(-3.29)

Apple Inc

493.42+0.25(+0.05)

Google Inc 'A'

605.91-5.55(-0.91)

Bank of America

8.07-0.11(-1.34)

Wal-Mart Stores

61.90-0.06(-0.10)

Exxon Mobil Corp

83.80-1.08(-1.27)

Ford

12.44-0.25(-1.97)

Citigroup

32.925-0.735(-2.18)

IBM

192.42-0.71(-0.37)

Yahoo

16.14+0.14(+0.88)

Starbucks

48.82-0.38(-0.77)

Microsoft

30.495-0.275(-0.89)

Home Depot

45.33+0.06(+0.13)

DailyFinance Headlines

AOL Business News

BioHealth Investor Headlines

Sponsored Links

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance

Page Loaded in 1329019910361 ms.