Outlook roundup: Emerson Electric, Arch Chemicals
Among the earnings projection stories for Tuesday, May 6, from AP Financial News:
ST. LOUIS (AP) -- Emerson Electric Co. raised its earnings prediction for the fiscal year, citing favorable order trends and strong first-half results.
NORWALK, Conn. (AP) -- Arch Chemicals Inc. on Tuesday issued a second-quarter earnings prediction under Wall Street's expectations, but reaffirmed its profit outlook for the year.
WASHINGTON (AP) -- The government on Tuesday again raised its short-term price forecasts for crude oil and gasoline -- trends that are expected to tamp down demand.
TULSA, Okla. (AP) -- Magellan Midstream Partners LP, which transports and stores ammonia and petroleum products, on Tuesday raised its full-year profit estimate well above Wall Street's expectations.
MILWAUKEE (AP) -- Joy Global Inc., which makes surface mining equipment, Tuesday lowered its full-year 2008 earnings estimate on charges for an acquisition and terminating a maintenance and repair contract.
CLEVELAND (AP) -- Airplane parts maker TransDigm Group Inc. raised its forecast for 2008 profit and sales after reporting a 50 percent rise in fiscal second-quarter profit.
NEW YORK (AP) -- Chinese generic drug developer Simcere Pharmaceutical Group on Tuesday reiterated a full-year outlook above Wall Street's estimates, based on current operating and market conditions.
