BRIEF-Philips to acquire Spectranetics Corp for $38.50/share
* Philips to acquire the Spectranetics Corporation to accelerate expansion in image-guided therapy devices to treat cardiac and peripheral vascular disease
DETROIT, July 26 BorgWarner Inc, an automotive supplier of powertrain technology, reported lower net income for the second quarter and cut its full-year earnings and revenue outlook on Thursday, citing the slowdown in the global economy.
The company reported net income of $121 million, or $1 per share, down from $162 million, or $1.31 per share.
Excluding one-time items, BorgWarner earned $1.36 per share.
The parts supplier also cut its outlook. It expects to earn between $5.05 and $5.25 per share this year, down from its previous per-share outlook of between $5.35 and $5.65.
The company also expects revenue to increase 4 percent to 6 percent. Earlier it projected as much as 12 percent growth in sales.
ZURICH, June 28 The following are some of the main factors expected to affect Swiss stocks on Wednesday.