Closing Glance: Shares of household durables mostly fall
NEW YORK—Household durables stocks mostly fell Monday with the broader markets after Microsoft withdrew its $47.5 billion bid for Yahoo over the weekend.
Meanwhile, Morgan Keegan analyst Laura Champine lowered estimates on Whirlpool Corp., citing dropping industry volumes and cost inflation.
For the second fiscal quarter, Champine expects Whirlpool to earn $1.44 per share, compared with a prior estimate of $1.55. Analysts polled by Thomson Financial forecast, on average, earnings of $1.52 per share for the period.
Here's how some stocks of household durables companies traded :
Black & Decker Corp., down 23 cents to $67.38.
Whirlpool, down $1.92, or 2.5 percent, to $73.68.
Snap-on Inc., up 87 cents to $59.86.
Stanley Works, up 36 cents to $49.69.
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