Electrolux profit lags, outlook more uncertain
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Electrolux  reported third-quarter core earnings that missed market forecasts as new product launches cost more than expected, and it said its outlook for higher full-year earnings had grown more uncertain.
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Electrolux, the world&#39;s largest maker of household appliances, said Thursday that earnings in the second half of 2004 would be below forecasts because of higher steel prices.
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The clothing retailer's profits take a hit on weather woes and bigger-than-expected markdowns
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European share indexes opened steady  near 32-month highs on Tuesday, mirroring a flat performance  from U.S. blue chips overnight, but home appliance maker  Electrolux jumped as results topped forecasts.
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Electrolux , the world's second-largest appliances maker, pleased investors with a strong quarterly performance in the slowing U.S. market, lifting its shares 5.9 percent in morning trade.
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Appliance maker Whirlpool Corp.   on Tuesday lowered its profit outlook for 2006 as it integrates  recently acquired Maytag, but said 2007 profit would be higher  than current Wall Street estimates as it realizes cost savings  from the buyout.
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Diversified manufacturer Honeywell International Inc  on Friday reported quarterly results that missed Wall Street estimates, hampered by lower profit at its transportation business and higher raw material and research and development costs.
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Electrolux AB, the world&#39;s biggest maker of home appliances, warned Thursday that its profit expectations for the rest of 2004 would be less than expected because of a rise in steel prices.
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Competition makes for a dreary outlook for the company.
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The company's latest earnings met analysts' estimates but uncertainty still lingers.
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The soup maker said its second-quarter profit slipped 3.9 percent to $274 million even though its sales rose.
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The company said that one-time costs and a recall of Easy-Bake Ovens drove its second-quarter profit well below year-ago results.
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Net profit dropped at the consumer products maker to 721 million euros ($1.04 billion) in the last three months of 2007, from 2.03 billion euros a year earlier.
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Black & Decker Corp  and Stanley Works  on Monday gave dim forecasts for 2008 as a slowdown in the U.S. housing market has stifled demand for building equipment.
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Sony Corp. said profit from sales of home electronic products won&#39;t improve next quarter because of falling prices for flat-panel televisions and slumping demand for audio products.
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Sears, Roebuck and Co. on Thursday said quarterly profit fell sharply compared with a year earlier, when the department store operator had a gain from the sale of its credit card business, but the profit topped forecasts as the retailer slashed costs.
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STOCKHOLM - Swedish household electrical goods manufacturer Electrolux warned on Thursday that high prices for inputs of materials and mainly of steel would set back profits more than expected this year.