Outlook roundup: Lear, Pacific Capital Bancorp
Among the earnings projection stories for Tuesday, April 29, from AP Financial News:
SOUTHFIELD, Mich. (AP) -- Automotive interior product maker Lear Corp. on Tuesday raised its sales expectation for 2008, expecting a boost from the weak U.S. dollar.
NEW YORK (AP) -- Pacific Capital Bancorp said Tuesday it still expects its profit for 2008 to be higher than 2007, but the bank warned that bad credit is eating into its portfolio.
PISCATAWAY, N.J. (AP) -- Trane Inc., which makes heating, cooling and ventilation systems, said Tuesday it expects second-quarter net income to fall below analyst estimates because of continued weakness in U.S. residential sales.
NEW YORK (AP) -- Apparel retailer Gildan Activewear Inc. on Tuesday cut its second-quarter and full-year earnings estimates below Wall Street's expectations due to lower-than-planned sales growth and production levels.
MINNEAPOLIS (AP) -- G&K Services Inc., which makes and rents workplace uniforms, on Tuesday set fiscal 2008 fourth-quarter guidance below Wall Street forecasts, after a dip in third-quarter profit because of higher taxes.
TROY, Mich. (AP) -- ArvinMeritor Inc., which makes parts for commercial and light vehicles, on Tuesday boosted its fiscal-year revenue guidance, citing higher than expected foreign exchange gains.
