• Most Popular
  • Most Shared

UPDATE 1-Stanley Works cuts FY earnings view on charge

Thu Nov 5, 2009 4:42pm EST

Stocks

   

* Cuts FY EPS outlook to $2.61-$2.71

Stocks  |  Mergers & Acquisitions  |  Global Markets  |  Industrials

* To record $18 mln charge related to Black & Decker deal

Nov 5 (Reuters) - Tool maker Stanley Works (SWK.N) cut its full-year earnings outlook, citing a one-time charge related to its acquisition of rival Black & Decker Corp (BDK.N).

Stanley cut its 2009 earnings outlook to $2.61 to $2.71 a share from $2.84 to $2.94 a share.

The company expects to record an $18 million charge in the fourth quarter, reflecting fees and expenses related to the Black & Decker acquisition.

On Monday, Stanley said it would buy Black & Decker for $3.46 billion in stock. [ID:nBNG511551]

The revision in forecast does not reflect any change in its operational outlook, Stanley said.

Shares of the company closed at $49.62 Thursday on the New York Stock Exchange. (Reporting by Fareha Khan in Bangalore; Editing by Anne Pallivathuckal)

Stocks
Mergers & Acquisitions
Global Markets
Industrials


More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    PICTURES
    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    Oddly Enough
    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

    Global Markets