Stanley Works gives '09 forecast mostly under view

Tool maker Stanley Works Co. of New Britain, Conn., said it expects sales will remain weak through the rest of the year, and issued a wide earnings prediction range mostly under Wall Street's expectations.

The company sees 2009 earnings between $2 and $2.50 per share. Analysts polled by Thomson Reuters currently expect a profit of $2.38 per share. (The photo at right was taken from the company's website.)

Stanley Works also said Friday its first-quarter earnings tumbled 43 percent as core sales slid and weren't able to be offset by acquisition growth and higher prices.

In morning trading, Stanley shares rose $2.01, or 6 percent, to $35.63. (AP)